HARRY HUGHES, Governor

1973

Section 12-401(b)(l), (c) and (d), 12-402(a)(7),
12-404(2), 12-405, 12-406(b) through (d),
inclusive, 12-407(a), (b), and (d)(1)(iii),
12-409(b), 12-410, 12-413, 12-415 through
12-417, inclusive, 12-418(b), 12-419(a)(2), and
12-420

Annotated Code of Maryland

(As enacted by Chapter __ of the Acts

of the General Assembly of 1980)

BY repealing

Article - Financial Institutions

Section 12-414

Annotated Code of Maryland

(As enacted by Chapter __ of the Acts

of the General Assembly of 1980)

BY adding to

Article - Financial Institutions

Section 12-401(d), (f), and (g), 12-406(b), and 12-414

Annotated Code of Maryland

(As enacted by Chapter __ of the Acts

of the General Assembly of 1980)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
(as enacted by Chapter _____ of the Acts of the General
Assembly of 1980) be repealed, amended, or enacted to read
as follows:

Article - Financial Institutions

12-401.

(b) (1) "Agent" means a person who is authorized by a
licensee to issue or sell [drafts] PAYMENT INSTRUMENTS OR
TRAVELER'S CHECKS under the name of the licensee at any
location other than the place of business specified in the
license.

(C)  [(d)] "License" means a license issued by the Bank
Commissioner under this subtitle to issue or sell [drafts
for a fee or service charge] PAYMENT INSTRUMENTS OR
TRAVELER'S CHECKS.

(D)  "OUTSTANDING" MEANS SOLD IN THE UNITED STATES AND
REPORTED TO THE LICENSEE.

(E) [(c)] (1) ["Draft"] "PAYMENT INSTRUMENT" means an
order for the payment or transmission of money.