6-10-04. Agent must deposit funds as directed.
62 words·~1 min read·
/nd/title-06/chapter-6-10-agents-for-deposits/6-10-04·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A licensee operating a business under the terms of this chapter may not loan any of the moneys given into the licensee's custody by any depositor for deposit in a bank, but shall promptly transfer said funds to the bank designated by the depositor, and each depositor has the right to designate the bank in which the depositor desires such moneys deposited.