WAC 208-690-015: What are some activities that are exempt from the act? (United States)

WAC 208-690-015: What are some activities that are exempt from the act?

Published: 2015

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WACs > Title 208 > Chapter 208-690 > Section 208-690-015

208-690-014

208-690-016

Agency filings affecting this section

WAC 208-690-015

What are some activities that are exempt from the act?

(1) The issuance, sale, use, redemption, or exchange of closed-loop stored value devices.
(2) The issuance, sale, use, redemption, or exchange of payment instruments by a person licensed under the Check Cashers and Sellers Act, chapter 31.45 RCW.
(3) The issuance or sale of open-loop stored value devices when the value on the devices are covered by federal deposit insurance immediately upon sale or issue. See the Federal Deposit Insurance Corporation (FDIC) Financial Institution Letter 129-2008 dated November 13, 2008, to determine if the underlying funds of stored value devices are covered by FDIC insurance immediately upon sale or issue.
(4) See also RCW 19.230.020.
[Statutory Authority: RCW 43.320.040 and 19.230.310. WSR 13-24-021, Â§ 208-690-015, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040, 19.230.310, 2010 c 37. WSR 10-20-123, Â§ 208-690-015, filed 10/5/10, effective 11/5/10.]