Ohio Revised Code
Chapter 1315 | Transmitters of Money; Check-Cashing Businesses
Section 1315.11 | Conduct of Activities Through Authorized Delegate.

Effective: April 6, 2007
Latest Legislation: House Bill 454 - 126th General Assembly
(A) A licensee that chooses to conduct money transmission activities in this state through an authorized delegate shall execute an express written contract with the authorized delegate that, at a minimum, sets forth all of the following:
(1) The duties and responsibilities of the authorized delegate regarding money or its equivalent received from persons located in this state for transmission by the licensee;
(2) The duties and responsibilities of the authorized delegate regarding instruments, devices, or processes used by the licensee to transmit money;
(3) The duties and responsibilities of the authorized delegate with regard to compliance with laws regulating money transmission activities.
(B) A licensee shall monitor the activities of its authorized delegate with regard to money or its equivalent received from persons in this state for transmission by the licensee and for compliance with all of the following:
(1) The written contract between the licensee and the authorized delegate;
(2) Sections 1315.01 to 1315.18 of the Revised Code;
(3) Other laws applicable to the business of transmitting money.
(C) As part of the examination of a licensee authorized by section 1315.12 of the Revised Code, the superintendent of financial institutions may examine the books and records and policies and procedures of the licensee's authorized delegate.
(D)(1) An authorized delegate or other person that receives money or its equivalent for transmission by a licensee shall keep it separate and shall not commingle it with other money or receipts. All money or its equivalent, less fees, that is received by an authorized delegate or by any other person for transmission by a licensee, from the time received until remitted to the licensee, shall constitute funds owned by and belonging to the licensee and shall be impressed with a trust for the benefit of the person from which the money or its equivalent is received.
(2) If an authorized delegate or other person fails to comply with division (D)(1) of this section and commingles any money or its equivalent received for transmission by a licensee with any other funds or property owned or controlled by the authorized delegate or other person, all commingled proceeds and other property shall be impressed with a trust in favor of the licensee in an amount equal to the amount due the licensee.
(E) No licensee shall fail to comply with division (A) or (B) of this section, and no authorized delegate or other person that receives money or its equivalent for transmission by a licensee shall fail to comply with division (D) of this section.

Structure Ohio Revised Code

Ohio Revised Code

Title 13 | Commercial Transactions

Chapter 1315 | Transmitters of Money; Check-Cashing Businesses

Section 1315.01 | Transmitters of Money Definitions.

Section 1315.02 | Recipient of Money to Be Licensed or Authorized.

Section 1315.03 | Application for Money Transmitter License - Confidentiality.

Section 1315.04 | Determination on Application - Conditional Approval.

Section 1315.05 | Continuing Duties of Licensees.

Section 1315.06 | Minimum Amount of Permissible Investments.

Section 1315.07 | Satisfactory Security Device Maintained.

Section 1315.08 | Quarterly Reports - Annual Financial Statements.

Section 1315.081 | Written Report of Specified Events.

Section 1315.09 | Records Required to Be Kept.

Section 1315.10 | Application for Approval of Control Acquisition.

Section 1315.101 | Approval of Application for Control Acquisition.

Section 1315.11 | Conduct of Activities Through Authorized Delegate.

Section 1315.12 | Examination of Records and Affairs of Licensee.

Section 1315.121 | Administrative Powers of Superintendent.

Section 1315.122 | Examination Information Privileged and Confidential.

Section 1315.13 | Superintendent to Establish Fees.

Section 1315.14 | Implementing Rules.

Section 1315.141 | Criminal Records Check to Be Requested by Superintendent.

Section 1315.15 | Notice of Charges - Cease and Desist Order.

Section 1315.151 | Suspension or Revocation of License.

Section 1315.152 | Civil Penalties for Violation or Breach.

Section 1315.153 | Injunctive Relief for Violation of Rc 1315.02.

Section 1315.16 | Enforcement Powers of Superintendent.

Section 1315.161 | Service of Notice, Subpoena, or Order.

Section 1315.17 | Administrative Hearing - Judicial Review - Enforcement of Order.

Section 1315.18 | Termination of Business - Approval of Plan - Implementation.

Section 1315.21 | Check-Cashing Businesses Definitions.

Section 1315.22 | Application for License to Operate Check-Cashing Business.

Section 1315.23 | Investigation of Applicant for License - Issuance or Renewal of License - Hearing Prior to Suspension, Revocation or Refusal of License.

Section 1315.24 | Investigation of Violations - Hearings - Injunctive Relief.

Section 1315.25 | Conditions for Deposit of Checks Into Financial Institution.

Section 1315.26 | Limitations on Fees and Charges.

Section 1315.27 | Rules.

Section 1315.28 | Prohibited Acts - Damages for Violation.

Section 1315.30 | State to Solely Regulate Check-Cashing Business.

Section 1315.51 | Transaction Reporting, Money Laundering Definitions.

Section 1315.52 | Liberal Construction of Statutes.

Section 1315.53 | Reporting Transactions - Records.

Section 1315.54 | Investigations.

Section 1315.55 | Additional Prohibited Activities.

Section 1315.99 | Penalty.