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Can you summarize CORS 11-110-203?
MONEY TRANSMITTER AGENTS > Notice of laws - rules.
Short Summary
This legal document pertains to the creation of a notice form containing information about money laundering laws in the state of Colorado. The banking board is responsible for promulgating rules to create this form. Agents of businesses licensed for money transmission services are required to ensure that each employee who performs money transmission services either understands and signs the form affirming knowledge of the money laundering laws or receives training that covers the money laundering laws within thirty days before performing the services. The agent must maintain a record of each employee along with the signed notice or evidence of training. The document does not specify any penalties for non-compliance or violations. This section was added to the Colorado Revised Statutes in 2017 and is similar to a former section that existed prior to 2017.
Whom does it apply to?
Agents of businesses licensed for money transmission services
What does it govern?
Money laundering laws
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
Colorado