|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PARRIS N. GLENDENING, Governor
|
|
Ch. 614
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHAPTER 614
(House Bill 516)
AN ACT concerning
Check Cashing Services - Licensing - Maximum Fees
FOR the purpose of prohibiting a person from providing check cashing services unless
licensed by the Commissioner of Financial Regulation or exempt from licensure
under certain circumstances; exempting certain check cashing services, certain
loans, and certain financial institutions from the applicability of the Act;
exempting subsidiaries and affiliates of certain financial institutions from
certain provisions of this Act under certain circumstances; establishing certain
qualifications, procedures, fees, and surety bond requirements and fees for
certain applicants for check cashing licenses; providing for the issuance, content,
expiration, and posting of check cashing licenses; imposing certain record
keeping, check endorsement, and compliance requirements on licensees;
authorizing the Commissioner to investigate a licensee under certain
circumstances; establishing maximum fees that a licensee may charge for check
cashing services under certain circumstances; authorizing the Commissioner to
issue a cease and desist order, suspend or revoke a license, or report an alleged
criminal violation under certain circumstances; imposing certain criminal and
civil penalties for certain violations; defining certain terms; and generally
relating to check cashing services.
BY repealing
Article - Financial Institutions
The subtitle designation "Subtitle 1. Bank Services and Bank Services
Corporations" immediately preceding the former Section 12-101
Annotated Code of Maryland
(1998 Replacement Volume and 1999 Supplement)
BY adding to
Article — Financial Institutions
Section 12-101 through 12-127, inclusive, to be under the new subtitle "Subtitle
1. Check Cashing Services"
Annotated Code of Maryland
(1998 Replacement Volume and 1999 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the subtitle designation "Subtitle 1. Bank Services and Bank
Services Corporations" immediately preceding the former Section 12-101 of Article -
Financial Institutions of the Annotated Code of Maryland be repealed.
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
|
|
|
|
|
|
|
|
|
|
- 3225 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
