6.1-378 - (Repealed effective October 1, 2010) Liability of licensee; negotiable instruments law applicable; money order to bear name of licensee.
§ 6.1-378. (Repealed effective October 1, 2010) Liability of licensee;negotiable instruments law applicable; money order to bear name of licensee.
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 this 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 same as the maker ordrawer thereof. Every money order sold by a licensee, whether directly orthrough an authorized delegate, shall bear the name of the licensee clearlyimprinted thereon as it appears on its license.
(1974, c. 578; 2009, c. 346.)