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Can you summarize OHRC Section 1315.51?
Transmitters Of Money; Check-cashing Businesses > Transaction reporting, money laundering definitions.
Short Summary
This legal document, as part of the Ohio Revised Code, specifically pertains to Transmitters of Money and Check-cashing Businesses. It provides definitions for various terms used in sections 1315.51 to 1315.55 of the Revised Code. The document defines terms such as ‘conduct the business,’ ‘corrupt activity,’ ‘knowingly,’ ‘material,’ ‘money,’ ‘money transmitter,’ ‘payment instrument,’ ‘proceeds,’ ‘property,’ ‘purposely,’ ‘structure a transaction,’ ’transaction,’ ’transmitting money,’ and ’travelers check.’ It also defines ‘unlawful activity’ as an act that is a criminal offense in the state where it is committed. The document does not specify any penalties for non-compliance or violations. It is important for persons engaged in activities regulated under sections 1315.51 to 1315.55 of the Revised Code to understand and comply with these definitions to ensure adherence to the applicable laws and regulations.
Whom does it apply to?
Persons engaged in activities regulated under sections 1315.51 to 1315.55 of the Revised Code
What does it govern?
Transaction reporting, money laundering definitions
What are exemptions?
No exemptions are mentioned
What are the Penalties?
Penalties for non-compliance or violation of the provisions are not specified in the provided document
Jurisdiction
Ohio