Ch. 23 1997 LAWS OF MARYLAND

(1) Any banking institution;

(2) Any national banking association;

(3) Any credit union;

(4) Any savings and loan association;

(5) The United States government or any of its departments or agencies;

[(6) The receipt of money by an incorporated telegraph company for
immediate transmission by telegraph;

(7) ] (6) The sale of payment instruments [or traveler's checks] by any
person on behalf of any other person who is exempted by this subsection, if the payment
instruments [or traveler's checks] were received from the other person under a trust
receipt for the specific purpose of sale; [or

(8) ] (7) Any other-state bank having a branch in this State [.]; OR

(8) ANY AGENT OF A LICENSEE, ACTING WITHIN THE SCOPE OF
AUTHORITY CONFERRED BY A WRITTEN CONTRACT AS DESCRIBED IN THIS
SUBTITLE.

(b) Any person who is exempted by this section nevertheless may apply for and, if
qualified, receive a license.

12-404.

A person may not engage in the business of [issuing or selling payment instruments
or traveler's checks] TRANSMITTING MONEY unless the person:

(1) Is licensed by the Commissioner;

(2) Is an agent of a licensee under whose name the [payment instruments or
traveler's checks are issued or sold] MONEY IS TRANSMITTED; or

(3) Is a person exempted from licensing under this subtitle.

12-406.

(a) (1) To apply for a license, an applicant shall sign and submit to the
Commissioner a verified application in the form that the Commissioner requires.

(2) The application shall include:

(i) The applicant's name, business address, and, if the applicant is an
individual, residence address;

(ii) If the applicant is a corporation or association, the name and
business address of each of its officers and directors;

(iii) If the applicant is an unincorporated entity with less than 100
members or a partnership, the name and business address of each of its members;

(iv) The address at which the business is to be conducted; and

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