All funds, less fees, received by a licensee or its agents for transmission to a foreign country shall constitute trust funds owned by and belonging to the person from whom they were received until such time as directions have been given by the licensee or its agents for payment abroad of the remittance and funds provided for such payment. SOURCE: GC §30965.
Ownership of Funds for Transmission to Foreign Country
11 GCA § 109116 — under Foreign Exchange.
11 GCA § 109116