(a) This section does not apply to: (1) money received for transmission subject to the federal Remittance Rule, 12 C.F.R. Part 1005, subpart B, as may be amended;(2) money received for transmission that is not primarily for personal, family, or household purposes;(3) money received for transmission pursuant to a written agreement between the licensee and payee to process payments for goods or services provided by the payee; or(4) payroll processing services.(b) As used in this section and sections 2507 and 2574 of this chapter, "receipt' means a paper receipt, electronic record, or other written confirmation. For a transaction conducted in person, the receipt may be provided electronically if the sender requests or agrees to receive an electronic receipt. For a transaction conducted electronically or by phone, a receipt may be provided electronically. All electronic receipts shall be provided in a retainable form.(c) Every licensee or its authorized delegate shall provide the sender a receipt for money received for transmission. (1) The receipt shall contain the following information, as applicable:(A) the name of the sender;(B) the name of the designated recipient;(C) the date of the transaction;(D) the unique transaction or identification number;(E) the name of the licensee, NMLS Unique ID, the licensee's business address, and the licensee's customer service telephone number;(F) the amount of the transaction in U.S. dollars;(G) for transactions that involve money sent in a different currency from the money received: (i) if the rate of exchange is fixed by the licensee at the time the transmission is initiated, the receipt shall disclose the rate of exchange for the transaction, and the duration, if any, for the payment to be made at the fixed rate of exchange so specified;(ii) if the rate of exchange is not fixed at the time the transmission is initiated, the receipt shall disclose that the rate of exchange for the transaction will be set at the time the money is received;(H) any fee charged by the licensee to the sender for the transaction; and(I) any taxes collected by the licensee from the sender for the transaction.(2) The receipt required by this section shall be in English and in the language principally used by the licensee or authorized delegate to advertise, solicit, or negotiate, either orally or in writing, for a transaction conducted in person, electronically, or by phone, if other than English.Added by 2024, No. 110,§ 47, eff. 7/1/2024.