§ 1512. Definitions
Oklahoma Statutes AnnotatedTitle 6. Banks and Trust CompaniesEffective: April 20, 2016
Effective: April 20, 2016
6 Okl.St.Ann. § 1512
§ 1512. Definitions
As used in this act:1
3. “Currency” or “funds” means the coin and paper money of the United States or of any other country that is designated as legal tender and that circulates and is customarily used and accepted as a medium of exchange in the country of issuance. Currency includes U.S. silver certificates, U.S. notes, and Federal Reserve notes. Currency also includes official foreign bank notes that are customarily used and accepted as a medium of exchange in a foreign country;
6. “Money services business” includes each agent, agency, branch, or office within the State of Oklahoma of any person doing business, whether or not on a regular basis or as an organized business concern, as a money transmitter or in one or more of the capacities otherwise identified and defined by the Board. The term “money services business” shall not include a “bank” as that term is defined in Title 31, Code of Federal Regulations, Chapter X, nor shall it include a person registered with and regulated or examined by the Securities and Exchange Commission or the Commodity Futures Trading Commission;
7. “Money transmitter” means any person who engages in the business of accepting currency or funds denominated in currency, and transmits the currency or funds or the value of the currency or funds, by any means through a financial agency or institution, a Federal Reserve Bank or other facility of one or more Federal Reserve Banks, the Board of Governors of the Federal Reserve System or both, or an electronic funds transfer network;
9. “Person” includes an individual, corporation, partnership, limited partnership, limited liability company, trust or estate, joint stock company, association, syndicate, joint venture, or other unincorporated organization or group, Indian tribe, and all entities cognizable as legal personalities; and
Credits
Laws 2006, c. 57, § 2, emerg. eff. April 17, 2006; Laws 2013, c. 62, § 6, emerg. eff. April 18, 2013; Laws 2016, c. 127, § 3, emerg. eff. April 20, 2016.
Footnotes
Title 6, § 1511 et seq.
6 Okl. St. Ann. § 1512, OK ST T. 6 § 1512
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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