State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-208_19

§ 53‑208.19.  Authorizeddelegate contracts.

Licensees desiring to conductlicensed activities through authorized delegates in this State shall authorizeeach delegate to operate pursuant to an express written contract, which shallprovide the following:

(1)        That the licenseeappoints the person as its delegate with authority to engage in moneytransmission on behalf of the licensee.

(2)        That neither alicensee nor an authorized delegate may authorize subdelegates without thewritten consent of the Commissioner.

(3)        That licensees aresubject to supervision and regulation by the Commissioner.

(4)        A licensee shallissue a certificate of authority for each location at which it conductslicensed activities in this State through authorized delegates. The certificateshall be posted in public view at each location and shall state as follows:"Money transmission on behalf of (licensee) is conducted at this locationpursuant to the Money Transmitters Act." (2001‑443, s. 2.)