Definitions.

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  4. Definitions.

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As used in the Drug Money Laundering and Wire Transmitter Act:

1. “Conducts” includes initiating, concluding, or participating in initiating, or concluding a transaction;

2. “Financial institution” includes:

  • a.any financial institution, as defined in Section 5312(a)(2) of Title 31 of the United States Code, or the regulations promulgated thereunder, and
  • b.any foreign bank, as defined in Section 3101 of Title 12 of the United States Code;

3. “Financial transaction” means:

  • a.a transaction which in any way or degree affects state, interstate or foreign commerce:
    • (1)involving the movement of funds by wire or other means,
    • (2)involving one or more monetary instruments, or
    • (3)involving the transfer of title to any real property, vehicle, vessel, or aircraft; or
    • b.a transaction involving the use of a financial institution which is engaged in, or the activities of which affect, state, interstate or foreign commerce
  • in any way or degree;

4. “Knowing that the property involved in a financial transaction represents the proceeds of some form of unlawful activity” means that the person knew the property involved in the transaction represented proceeds from some form, though not necessarily which form, of any violation of the Uniform Controlled Dangerous Substances Act;

5. “Monetary instruments” means:

  • a.coin or currency of the United States or of any other country, travelers’ checks, personal checks, bank checks, and money orders, or
  • b.investment securities or negotiable instruments, in bearer form or otherwise in such form that title thereto passes upon delivery;

6. “Money transmitting” includes transferring funds by any and all means including, but not limited to, transfers within this state, country or to locations abroad by wire, check, draft, facsimile, or courier;

7. “Proceeds” means all things of value furnished, or intended to be furnished, in exchange for a controlled dangerous substance in violation of the Uniform Controlled Dangerous Substances Act, including all proceeds traceable to such an exchange, and all monies, negotiable instruments, and securities used, or intended to be used to facilitate any violation of the Uniform Controlled Dangerous Substances Act;

8. “Specified unlawful activity” means any violation of the Uniform Controlled Dangerous Substances Act; and

9. “Transaction” includes a purchase, sale, loan, pledge, gift, transfer, delivery, or other disposition, and with respect to a financial institution includes a deposit, withdrawal, transfer between accounts, exchange of currency, loan, extension of credit, purchase or sale of any stock, bond, certificate of deposit, or other monetary instrument, use of a safe deposit box, or any other payment, transfer, or delivery by, through, or to a financial institution, by whatever means effected.

Added by Laws 2009, c. 442, § 13, eff. July 1, 2009.


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