London South East

Definition of 'Account Payee'

This states that a cheque can only be paid into the account of the person name on the cheque, the payee. This effectively means that the payee cannot sign the cheque over to another person.
JD Supra

Two More States Set to Make Agent of Payee Exemption to Money Transmitter Laws Effective

Today, Michigan's "agent of payee" exemption to its money transmitter law is effective and West Virginia also passed an agent of payee exemption earlier this month that will be effective soon. These ...
National Academies of Sciences%2c Engineering%2c and Medicine

Improving the Social Security Representative Payee Program: Serving Beneficiaries and Minimizing Misuse

This chapter addresses part of the third of the four specific items in the committee’s charge: “identify the types of representative payees that have the highest risk of misuse of benefits.” In order ...
London South East

Definition of 'Account Payee Only'

This states that a cheque can only be paid into the account of the person name on the cheque, the payee. This effectively means that the payee cannot sign the cheque over to another person.