Filing of Receipt Forms

Each licensee shall file with the Commissioner a certified copy of every receipt form used by it or by its agents for selling foreign currency notes or for money received for transmission. Receipts used shall be COL 03072011 CH. 109 FOREIGN EXCHANGE printed and prenumbered and consist of at least two copies, one to be given to the customer, the other to be retained by the licensee for record keeping purposes. A receipt used for the sale of foreign currency notes shall contain not less than the following information: The amount and country of origin of the foreign currency notes; the rate of exchange of the foreign currency notes; the rate of exchange of the transaction; the U.S. dollars proceeds of the sale. A receipt used for the transmittal of money shall contain in addition to the above information required for the sale of foreign currency notes the following: The name and address of the beneficiary. No such licensee or its agents shall use any receipt a certified copy of which has not first been filed with the Commissioner. Any licensee violating the requirement of this section shall be subject to a fine of Fifty Dollars ($50.00) for each violation. If any such licensee or its agent uses a receipt form a certified copy of which has not first been filed with the Commissioner, such licensee shall be liable for the acts of its agents whether or not the licensee authorized the agent to use such form.