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Opinion Summary of Selected Opinion 98-034

Date: 01/04/1998
Organization: Division of Banks
Docket Number: 98-034

Table of Contents

Licensing Of Travel Agents Who Conduct Foreign Transmittal Transactions

Some travel agencies in Massachusetts are licensed by the Division of Banks to conduct foreign transmittal transactions as well as to sell travelers'' checks. Neither Mass. Gen. Laws ch. 169 governing foreign transmittal agencies nor chapter 167F § 4 governing the sales, issuance or registration of checks or money orders prohibits a travel agency from obtaining a license to carry out such types of business.