6.2-1912 - (Effective October 1, 2010) Liability of licensee for payment of money order; money order to bear name of licensee. - Virginia Statutes

§ 6.2-1912. (Effective October 1, 2010) Liability of licensee for payment ofmoney order; money order to bear name of licensee.

A. A licensee shall be liable for the payment of all funds collected fortransmission by the licensee or its authorized delegates and all money orderswhich it sells, in whatever form and whether directly or through anauthorized delegate, as the maker or drawer thereof according to thenegotiable instrument laws of the Commonwealth. A licensee who sells a moneyorder, whether directly or through an authorized delegate, upon which he isnot designated as maker or drawer shall nevertheless have the sameliabilities with respect thereto as if he had signed the money order as themaker or drawer thereof.

B. Every money order sold by a licensee, whether directly or through anauthorized delegate, shall bear the name of the licensee clearly imprintedthereon as it appears on its license.

(1974, c. 578, § 6.1-378; 2009, c. 346; 2010, c. 794.)