217.03(1)(d) (d) The United States or a department, agency, or instrumentality thereof, or its agent.

217.03(1)(e) (e) Money transmission by the U.S. postal service or an agent of the U.S. postal service.

217.03(1)(f) (f) A state, county, city, or any other governmental agency or governmental subdivision or instrumentality of a state, or its agent.

217.03(1)(g) (g) A federally insured depository financial institution, bank holding company, office of an international banking corporation, foreign bank that establishes a federal branch pursuant to the International Bank Act, 12 USC 3102, corporation organized pursuant to the Bank Service Corporation Act, 12 USC 1861 to 1867, or corporation organized under the Edge Act, 12 USC 611 to 633.

217.03(1)(h) (h) Electronic funds transfer of governmental benefits for a federal, state, county, or governmental agency by a contractor on behalf of the United States or a department, agency, or instrumentality thereof, or on behalf of a state or governmental subdivision, agency, or instrumentality thereof.

217.03(1)(i) (i) A board of trade designated as a contract market under the federal Commodity Exchange Act, 7 USC 1 to 25, or a person that, in the ordinary course of business, provides clearance and settlement services for a board of trade to the extent of its operation as or for such a board.

217.03(1)(j) (j) A registered futures commission merchant under the federal commodities laws to the extent of its operation as such a merchant.

217.03(1)(k) (k) A person registered as a securities broker-dealer under federal or state securities laws to the extent of its operation as such a broker-dealer.

217.03(1)(L) (L) An individual employed by a licensee, authorized delegate, or any person exempted from the licensing requirements of this chapter when acting within the scope of employment and under the supervision of the licensee, authorized delegate, or exempted person as an employee and not as an independent contractor.

217.03(1)(m) (m) A person expressly appointed as a 3rd-party service provider to or agent of an entity exempt under par. (g), solely to the extent that all of the following are true:

217.03(1)(m)1. 1. The service provider or agent is engaging in money transmission on behalf of and pursuant to a written agreement with the exempt entity that sets forth the specific functions that the service provider or agent is to perform.

217.03(1)(m)2. 2. The exempt entity assumes all risk of loss and all legal responsibility for satisfying the outstanding money transmission obligations owed to a purchaser or holder of the outstanding money transmission obligations upon receipt of the purchaser’s or holder’s money or monetary value by the service provider or agent.

217.03(1)(n) (n) A person exempted by written determination of the division, if the division finds the exemption to be in the public interest and that the regulation of the person is not necessary for the purposes of this chapter.

217.03(1)(o) (o)

217.03(1)(o)1. 1. A person that delivers wages or salaries on behalf of employers to employees or facilitates the payment of payroll taxes to state and federal agencies, makes payments relating to employee benefit plans, makes distributions of other authorized deductions from employees’ wages or salaries, or transmits other funds on behalf of an employer in connection with transactions related to employees.

217.03(1)(o)2. 2. Notwithstanding subd. 1., a person described in subd. 1. that offers money transmission services or provides stored value cards directly to individual consumers shall comply with this chapter to the extent of that activity.

217.03(2) (2) The division may require that any person claiming to be exempt from licensing requirements under this chapter provide information and documentation to the division demonstrating that the person qualifies for any claimed exemption.

217.03 History History: 2023 a. 267.

217.04 217.04 Participation in the nationwide multistate licensing system and registry; networked supervision; confidentiality.

217.04(1) (1) Participation in the nationwide multistate licensing system and registry. The division shall utilize the nationwide multistate licensing system and registry, and the provisions of s. 224.35 shall apply, with respect to applicants and licensees under this chapter. An applicant or licensee under this chapter shall register with, and maintain a valid unique identifier issued by, the nationwide multistate licensing system and registry.

217.04(2) (2) Networked supervision. To efficiently and effectively administer and enforce this chapter and to minimize regulatory burden, the division may do any of the following:

217.04(2)(a) (a) Participate in multistate supervisory processes established between states and coordinated through the Conference of State Bank Supervisors, Money Transmitter Regulators Association, and affiliates and successors thereof for all licensees that hold licenses in this state and other states.

217.04(2)(b) (b) Enter into agreements or relationships with other government officials or federal and state regulatory agencies and regulatory associations, including organizations the membership of which is made up of state or federal governmental agencies, to standardize methods or procedures or share resources, records or related information obtained under this chapter.

217.04(2)(c) (c) Enter into agreements or relationships with the nationwide multistate licensing system and registry, or other entities designated by the nationwide multistate licensing system and registry, to collect and maintain records, coordinate multistate licensing processes and supervision processes, process fees, and facilitate communication with licensees or other persons subject to this chapter.

217.04(2)(d) (d) Utilize nationwide multistate licensing system and registry forms, processes, and functionalities in accordance with this chapter.

217.04(2)(e) (e) Waive or modify any requirement, and establish new requirements by rule or order, as reasonably necessary to participate in the nationwide multistate licensing system and registry.

217.04(2)(f) (f) Accept a licensing, examination, or investigation report made by another state or federal government agency or official, or a report prepared by an independent accounting firm.

217.04(2)(g) (g) Accept the investigation results or control determination of another state, if the other state has sufficient staffing and expertise and meets minimum standards.

217.04(2)(h) (h) Conduct examinations in conjunction with examinations conducted by representatives of other state agencies or agencies of another state or of the federal government.