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Can you summarize 23 ARCO Chapter 55?
Financial Institutions And Securities > Uniform Money Services Act
Short Summary
The provided legal document content pertains to the Uniform Money Services Act, which governs the regulation of money services, including money transmission and currency exchange. It applies to persons engaged in these activities. The document provides definitions for various terms used in the act and includes provisions related to licensing, reporting, and compliance requirements for money services providers. However, specific penalties for non-compliance or violations are not mentioned in this document. The act also specifies the entities and activities that are exempt from its provisions, including the United States and its departments, agencies, or instrumentalities, certain financial market entities, registered securities broker-dealers, and credit unions regulated by the National Credit Union Administration.
Whom does it apply to?
The act applies to persons engaged in money services, including money transmission and currency exchange.
What does it govern?
The Uniform Money Services Act governs the regulation of money services, including money transmission and currency exchange.
What are exemptions?
The act exempts certain entities and activities, including the United States and its departments, agencies, or instrumentalities, certain financial market entities, registered securities broker-dealers, and credit unions regulated by the National Credit Union Administration.
What are the Penalties?
The document does not mention specific penalties for non-compliance or violations.
Jurisdiction
Arkansas