(i) cash;

(ii) certificates of deposit or other debt instruments of a commercial bank;

(iii) bills of exchange or time drafts drawn on and accepted by a commercial bank, otherwise known as bankers acceptances, which are eligible for purchase by member banks of the federal reserve system;

(iv) commercial paper of prime quality as defined by a nationally recognized organization which rates such securities; * (v) interest-bearing bills, notes, bonds, debentures or other obligations issued or guaranteed by the United States or any state or other local governmental entity or any agent or instrumentality thereof, bearing a rating of one of the three highest grades by a nationally recognized investment service organization that has been engaged regularly in rating state and municipal issues for a period of not less than five years; * NB Effective until notification of the superintendent of financial services * (v) interest-bearing bills, notes, bonds, debentures or other obligations issued or guaranteed by the United States or any state or other local governmental entity or any agent or instrumentality thereof, which meet the standards of creditworthiness established by regulation by the superintendent; * NB Effective upon notification of the superintendent of financial services * (vi) interest-bearing bills, notes, bonds, debentures or preferred stock traded on any national securities exchange or on a national over-the-counter market or bearing a rating of one of the three highest grades by a nationally recognized investment service organization that has been engaged regularly in rating corporate debt or equity issues for a period of not less than five years; and * NB Effective until notification of the superintendent of financial services * (vi) interest-bearing bills, notes, bonds, debentures or preferred stock traded on any national securities exchange or on a national over-the-counter market or which meet the standards of creditworthiness established by regulation by the superintendent; and * NB Effective upon notification of the superintendent of financial services

(vii) such other investments or assets if and as approved by the superintendent. Except for cash and certificates of deposit of a commercial bank, any particular investment within the classes of investments authorized by this section is subject to disqualification for one or more licensees for the purpose of this article, if unsatisfactory for any reason in the opinion of the superintendent. Notwithstanding the foregoing provisions of this section, the superintendent shall have the power to limit, with respect to any particular licensee or all licensees, the extent to which any class of investments authorized by this section, except for cash and certificates of deposit of a commercial bank, may be considered a permissible investment. 10. "Agent" means any person designated or appointed by the licensee pursuant to a written agency contract to engage in money transmission activities at locations other than a duly authorized office of the licensee as provided in section six hundred forty-eight of this article. Except for a licensee, any person acting as agent engaging in money transmission activities absent such a written agency contract shall be deemed to be in violation of section six hundred forty-one of this article and may be subject to criminal prosecution pursuant to section six hundred fifty of this article. Such term shall not be deemed to include any banking corporation incorporated or licensed under this chapter or under the laws of the United States or any other state or any casher of checks licensed under this chapter.