(1) The term money transmission activities shall mean any of those activities for which a license is required under article 13-B of the Banking Law, including but not limited to the sale of money orders and the transfer of funds.

(2) The term transfer of funds shall mean the transmission of funds from one location to another by electronic devices or otherwise, including but not limited to the acceptance of funds for utility bill payments (but not including the sale of money orders).

(3) The term licensed money transmitter shall mean all entities licensed under article 13-B of the Banking Law and all entities exempt from such licensing.

(1) the name and address of the licensed money transmitter;

(2) the locations at which the licensee will engage in money transmission activities as agent;

(3) the activities to be engaged in as agent to the licensed money transmitter; and

(4) a brief description of the procedures and methods by which the money transmission activities will be carried out.

(1) a copy of the agency agreement with the licensed money transmitter, which agreement must specifically state that the licensee is acting as agent for the money transmitter for the money transmission activity or activities; and

(2) copies of any documentation which the licensee intends to furnish to the public in connection with the money transmission activities (e.g., forms, receipts).

(1) the licensee has not or is not conducting its business in accordance with applicable laws and regulations;

(2) the department's regulatory experience with the licensee has not been satisfactory; or

(3) it would not be in the public interest to authorize the licensee to act as agent for a licensed money transmitter.

(1) the name and address of the money transmitter and the type of money transmission activity for which the licensee is acting as agent;

(2) except in the case of acceptance of utility bill payments, a toll-free number established by the money transmitter which may be called to answer complaints or questions;

(3) that the check casher is licensed and regulated by the New York State Department of Financial Services located at the New York City office location specified in Supervisory Policy G 1 of this Title; and

(4) in the case of the transfer of funds, that persons receiving funds may not be charged any fee by the licensee and that the licensee is acting as agent of the licensed money transmitter in accepting such funds. If the licensee is transferring funds to utility companies for payment of utility bills, it must be indicated that utility payments are not considered paid until received by the utility company.

(1) a statement of the liability of the money transmitter for delayed delivery or nondelivery;

(2) a statement of the refund policy of the licensed money transmitter;

(3) the dollar amount of the transmission; and

(4) the fee charged to persons who transfer funds.

(1) Funds received by the licensee for payment of utility bills must be remitted to the utility company by means of money orders issued by a licensed money transmitter. Such funds must be remitted using such money orders on a current basis no less than twice a week.

(2) The licensee shall insure against the loss to the licensed money transmitter and the customer of any utility bill payment accepted by securing a surety bond payable to the licensed money transmitter, in the amount of at least $100,000 for each of the licensee's locations, covering all utility bill payments accepted by the licensee. Evidence of such surety bond, satisfactory to the superintendent, shall be given to the superintendent prior to the acceptance of the utility bill payments by a licensee.

(3) At the time any licensee accepts a utility bill payment for remittance, the licensee shall furnish to the customer a separate receipt for each utility bill payment showing the date, the amount accepted by the licensee, and the public utility company to which the payment is to be remitted. A stamped customer's copy of the utility bill shall be deemed a separate receipt for purposes of this section, if the stamp identifies the licensee accepting the utility bill payment and shows the amount accepted for remittance and the date of receipt.