Ala. Admin. Code r. 770-X-10-.13

Current through Register Vol. 42, No. 12, September 30, 2024

Section 770-X-10-.13 - Handling Of Monies Received From Collect-On-Delivery Shipments

(1) Every motor common carrier of property receiving money in payment of merchandise, which money it is under a duty to remit to the shipper of such merchandise or such shipper's nominee, shall remit such money collected to the proper person within ten (10) days of collection, and shall prepare and maintain for three (3) years records showing when such monies were received and when such monies were disbursed.

(2) All such moneys collected and deposited in a bank shall be deposited by the collecting carrier in a special bank account, denominated "C.O.D. Trust Account," established for that purpose only, and such moneys shall not be co-mingled with moneys of the carrier or moneys the carrier received other than in payment for Collect-On-Delivery merchandise.

Effective January 1978. Amended January 1981. Amended July 1989. Filed with LRS February 5, 2013. Filed for Codification in the Alabama Administrative Code by the Alabama Public Service Commission on February 5, 2 013, pursuant to Code of Ala. 1975, § 41-22-7.

Author: Alabama Public Service Commission

Statutory Authority:Code of Ala. 1975, §§ 37-3-5, 37-3-7, 37-3-22.