§ 19-14.3-3.2 - Forwarding of documents to foreign correspondent – Receipt for money or documents.
SECTION 19-14.3-3.2
§ 19-14.3-3.2 Forwarding of documents toforeign correspondent – Receipt for money or documents. – Every person, whether engaged in the foreign exchange brokerage business ornot, to whom any money, draft, or credit is delivered to be forwarded to aforeign correspondent, shall forward the credit accompanied by draft credits,or any documents necessary and essential to carrying out the transaction,immediately after the receipt, sale, deposit, or other transaction by which themoney, draft, or credit is delivered to the person for forwarding. That personshall also, upon delivery of any money, draft, or credit to be forwarded to aforeign correspondent, give a receipt, showing what the current rate ofexchange of the foreign currency to which the money, draft, or credit is to betransferred is on the day of the transaction, and the amount expressed in thedenomination of the foreign currency, according to the rate of exchange, whichis to be forwarded as set forth above.