Section 80.130 - Transaction(a) For purposes of Financial Code section 2010, subdivision (1), "transaction" means an instance in which there is a payment obligation between a payor and a payee.(b) Series of Transactions. Where there is a series of transactions involving multiple pairs of payors and payees in order to complete settlement of funds, the exemption in Financial Code section 2010, subdivision (1) applies to each transaction if an agency relationship is established by written contract between each respective agent and payee, and the other statutory requirements of Financial Code section 2010, subdivision (1), are met.Cal. Code Regs. Tit. 10, § 80.130
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.