Section 326 Sample Clauses
Section 326 typically refers to a provision that outlines specific requirements or procedures related to a particular subject within a legal or regulatory framework. For example, in the context of U.S. law, Section 326 of the USA PATRIOT Act mandates that financial institutions implement customer identification programs to verify the identity of individuals opening accounts. This involves collecting identifying information and maintaining records to prevent fraud and money laundering. The core function of such a clause is to enhance security and compliance by ensuring that organizations take necessary steps to verify identities and mitigate risks associated with illicit activities.
Section 326. DIRECT PAY PERMITS
Section 326. DIRECT PAY PERMITS
15 A. If a term defined in the Library of Definitions appears in a member state’s sales and 16 use tax statutes or administrative rules or regulations, the member state shall enact or 17 adopt the Library definition of the term in its statutes or administrative rules or 18 regulations in substantially the same language as the Library definition.
19 B. A member state shall not use a Library definition in its sales or use tax statutes or 20 administrative rules or regulations that is contrary to the meaning of the Library 21 definition.
22 C. Except as specifically provided in Section 316 and the Library of Definitions, a 23 member state shall impose a sales or use tax on all products or services included 24 within each definition or exempt from sales or use tax all products or services within 25 each definition.
Section 326. DIRECT PAY PERMITS
15 A. If a term defined in the Library of Definitions appears in a member state’s sales 16 and use tax statutes or administrative rules or regulations, the member state shall 17 enact or adopt the Library definition of the term in its statutes or administrative 18 rules or regulations in substantially the same language as the Library definition.
19 B. A member state shall not use a Library definition in its sales or use tax statutes or 20 administrative rules or regulations that is contrary to the meaning of the Library 21 definition.