§ 19-14.3-3. Liability of licensees.
Each licensee shall be liable for the payment of all checks or electronic money transfer sold by the licensee in this state, in whatever form and whether directly or through an agent, as the maker or drawer of these according to the negotiable instrument laws of this state; and a licensee who sells a check or electronic money transfer, whether directly or through an agent, upon which the licensee is not designated as maker or drawer shall, nevertheless, have the same liabilities with respect to these as if signed as the maker or drawer of these. Every check or electronic money transfer sold by a licensee, directly or through an agent, shall bear the name of the licensee clearly imprinted on it.
History of Section.P.L. 1995, ch. 82, § 55.
Structure Rhode Island General Laws
Title 19 - Financial Institutions
Chapter 19-14.3 - Currency Transmissions
Section 19-14.3-1. - Exemption from licensing.
Section 19-14.3-1.1. - Definitions.
Section 19-14.3-1.2. - License by reciprocity.
Section 19-14.3-1.3. - Cooperation and data-sharing authority.
Section 19-14.3-2. - Securities in lieu of bonds.
Section 19-14.3-3. - Liability of licensees.
Section 19-14.3-3.1. - Record of foreign exchange transactions.
Section 19-14.3-3.3. - Action on bond.
Section 19-14.3-3.4. - Companies exempt from provisions.
Section 19-14.3-3.5. - Required disclosures for virtual currency.
Section 19-14.3-3.6. - Property interests and entitlements to virtual currency.
Section 19-14.3-3.7. - Mandated compliance programs and monitoring.
Section 19-14.3-3.8. - Prohibited acts and practices.