A. Nothing in the Sale of Checks Act shall apply to the receipt of money by any incorporated telegraph company at any agency or office of the company for immediate transmission by telegraph, or to the receipt of money for the purpose of transmitting or transferring it to foreign countries.
B. Nothing in the Sale of Checks Act shall apply to the sale or issuance of checks by governmental departments. No federally insured financial institutions authorized to do business in this state, including banks, savings and loan associations, and credit unions, whether the federally insured financial institutions are organized under the laws of this state or of the United States, shall be subject to this act where the institution is selling or issuing checks drawn only on itself or on another federally insured financial institution or representing insured deposits held at the institution.
C. Nothing in this act shall apply to a company that maintains a license under the Oklahoma Financial Transaction Reporting Act. Provided, a person selling checks that are exempt pursuant to this subsection must maintain a bond covering its money transmission activities and sale of checks activities in an amount not less than the maximum required pursuant to the rules of the board.
Added by Laws 1961, p. 427, § 4. Amended by Laws 1988, c. 216, § 3, eff. Nov. 1, 1988; Laws 1990, c. 104, § 1, eff. Sept. 1, 1990; Laws 2013, c. 62, § 10, emerg. eff. April 18, 2013; Laws 2016, c. 127, § 5, emerg. eff. Apr. 20, 2016.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.