Section 533C.701 - Timely transmission1. Every licensee shall forward all money received for transmission in accordance with the terms of the agreement between the licensee and the sender unless the licensee has a reasonable belief or a reasonable basis to believe that the sender may be a victim of fraud or that a crime or violation of law, rule, or regulation has occurred, is occurring, or may occur.2. If a licensee fails to forward money received for transmission in accordance with this section, the licensee shall respond to inquiries by the sender with the reason for the failure unless providing a response would violate a state or federal law, rule, or regulation. 2003 Acts, ch 96, § 25, 42; 2023 Acts, ch 83, § 28
Amended by 2023 Iowa, ch 83, s 28, eff. 7/1/2023.2003 Acts, ch 96, §25, 42Section stricken and rewritten