Problem:
Your attorney has a new client who was referred by a local CPA firm. All you know about the client is that they recently purchased a small grocery store in Michigan. They installed a counter in the back of the market, where cell phones, international calling cards, money orders and money transfer services (like Western Union) are sold/provided. It is a profitable side to the business, but they are wondering whether the money transfer services need to be licensed in Michigan and whether there are any laws or regulations that might apply. The particular incident that caused the client to focus on this as a legal problem, was a recent customer who wanted to wire $25,000 to a relative in Switzerland.
I need to prepare an interoffice memo to the attorney