KRS 286.11-035: Authorized agent contracts.

Licensees desiring to conduct licensed activities through agents shall authorize each agent

to operate pursuant to an express written contract, which shall include the following

provisions:

(1) That the licensee designates the person as its agent with auth ority to engage in

money transmission on behalf of the licensee as authorized under this subtitle;

(2) That the agent shall operate in full compliance with this subtitle, and rules

promulgated under this subtitle, and any order issued by the commissioner p ursuant

to this subtitle;

(3) That neither a licensee nor an agent of the licensee may authorize subagents;

(4) That the agent shall timely remit all money legally due to the licensee in accordance

with the terms of the written contract between the licensee and the agent;

(5) That the licensee and agent are subject to regulation by the commissioner; and

(6) That the licensee and agent shall comply with applicable federal and state law.