Statutes, codes, and regulations
California Code Of Regulations
Title 10 - InvestmentChapter 1 - Commissioner of Business Oversight, Division of Financial InstitutionsSubchapter 80 - Money TransmissionArticle 1 - General ProvisionsSubarticle 2 - Definitions
Part 2 - Definitions-Money Transmission Act
Section 80.128.10 - Payor

Cal. Code Regs. tit. 10 § 80.128.10

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Current through Register 2024 Notice Reg. No. 52, December 27, 2024
Section 80.128.10 - Payor

For purposes of Financial Code section 2010, subdivision (1), "payor" means the direct or indirect recipient of goods or services, who owes payment of money or monetary value to the payee for goods or services. A direct recipient receives the good or service and owes payment for it. An indirect recipient does not receive the good or service but owes payment for it. "Payor" includes a recipient, located in a foreign country, of a good or service from a payee located in the United States.

Cal. Code Regs. Tit. 10, § 80.128.10

1. New section filed 6-7-2021; operative 10-1-2021 (Register 2021, No. 24). Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20.

Note: Authority cited: Sections 321 and 334, Financial Code. Reference: Section 2010, Financial Code.

1. New section filed 6-7-2021; operative 10/1/2021 (Register 2021, No. 24). Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20.