This bill provides that a money transmitter must transmit money received within five business days unless specified circumstances exist. Requires a money transmitter to state in an agreement with a merchant that the transmitter has authority to place a hold on transmission. A transmitter that receives money to pay for goods or services must transmit the money within the time frame agreed upon in the merchant agreement. A transmitter must refund to the customer money received within ten days of a request for refund except under specified circumstances. Act is effective Aug 1, 2020 and applies to transmissions and merchant agreements executed on or after that date.