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Washington Administrative Code (Last Updated: November 23, 2016) |
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Title 208. Financial Institutions, Department of (See Titles 50, 419, and 460) |
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Chapter 208-690. Regulation of money services providers. |
Section 208-690-015. What are some activities that are exempt from the act?
Latest version.
- (1) The issuance, sale, use, redemption, or exchange of closed-loop stored value devices.(2) The issuance or sale of open-loop stored value devices when the value on the devices are covered by federal deposit insurance immediately upon sale or issue. See the Federal Deposit Insurance Corporation (FDIC) Financial Institution Letter 129-2008 dated November 13, 2008, to determine if the underlying funds of stored value devices are covered by FDIC insurance immediately upon sale or issue.(3) See also RCW 19.230.020.[Statutory Authority: RCW 43.320.040 and 19.230.310. WSR 16-14-022, § 208-690-015, filed 6/27/16, effective 8/1/16; WSR 13-24-021, § 208-690-015, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040, 19.230.310, 2010 c 37. WSR 10-20-123, § 208-690-015, filed 10/5/10, effective 11/5/10.]
RCW 43.320.040 and 19.230.310. WSR 16-14-022, § 208-690-015, filed 6/27/16, effective 8/1/16; WSR 13-24-021, § 208-690-015, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040, 19.230.310, 2010 c 37. WSR 10-20-123, § 208-690-015, filed 10/5/10, effective 11/5/10.