75-15-23 - Liability of licensee. - Mississippi Statutes

§ 75-15-23. Liability of licensee.
 

Each licensee shall be liable for the payment of all checks which licensee sells, in whatever form and whether directly or through an agent, as the maker or drawer thereof according to the negotiable instrument laws of this state; and shall be responsible only for those acts of the agent done on behalf of the licensee. Every check sold by a licensee directly or through an agent shall bear the name of the licensee clearly imprinted thereon. During the period of time which a person is an appointed agent for a licensee, the agent shall not directly or indirectly sell his own checks and the agent may not become licensed under this chapter to sell his own checks and the agent shall not be, continue to be, or become an officer, director, stockholder, employee, or agent of any other licensee under this chapter. When a person ceases to be an agent of a licensee, he shall immediately cease displaying his agent's appointment certificate, as provided under Section 75-15-17 of this chapter and shall immediately surrender same to the licensee. 
 

Sources: Codes, 1942, § 5131-12; Laws,  1966, ch. 257, § 12, eff from and after July 1, 1966.