Current through the 2022 Legislative Session
Section 1581 - Records required by business selling travelers checks, money orders or similar instruments in state(a) Any business association that sells in this state its travelers checks, money orders, or other similar written instruments (other than third-party bank checks) on which such business association is directly liable, or that provides such travelers checks, money orders, or similar written instruments to others for sale in this state, shall maintain a record indicating those travelers checks, money orders, or similar written instruments that are purchased from it in this state.(b) The record required by this section may be destroyed after it has been retained for such reasonable time as the State Controller shall designate by regulation.(c) Any business association that willfully fails to comply with this section is liable to the state for a civil penalty of five hundred dollars ($500) for each day of such failure to comply, which penalty may be recovered in an action brought by the State Controller.
Ca. Civ. Proc. Code § 1581Amended by Stats. 1975, Ch. 25.