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Ch. 614
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2000 LAWS OF MARYLAND
Article - Financial Institutions
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SUBTITLE 1. CHECK CASHING SERVICES.
12-101.
(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.
(B) "EXEMPT ENTITY" MEANS AN ENTITY THAT IS EXEMPT FROM ALL
REQUIREMENTS OF LICENSING AS PROVIDED UNDER § 12-103(B) AND (C) OF THIS
SUBTITLE.
(B) (C) "LICENSE" MEANS, UNLESS THE CONTEXT REQUIRES OTHERWISE, A
LICENSE ISSUED BY THE COMMISSIONER UNDER THIS SUBTITLE TO PROVIDE CHECK
CASHING SERVICES.
(D) "LICENSEE" MEANS. UNLESS THE CONTEXT REQUIRES OTHERWISE, A
PERSON THAT IS LICENSED BY THE COMMISSIONER UNDER THIS SUBTITLE TO
PROVIDE CHECK CASHING SERVICES.
(C) (E) "MOBILE UNIT" MEANS A MOTOR VEHICLE OR OTHER MOVABLE
MEANS FROM WHICH CHECK CASHING SERVICES ARE PROVIDED.
(D) (F) (1) "PAYMENT INSTRUMENT" MEANS A CHECK OR A DRAFT
ORDERING A PERSON TO PAY MONEY.
(2) "PAYMENT INSTRUMENT" INCLUDES A MONEY ORDER
(E) (G) "PROVIDE CHECK CASHING SERVICES" MEANS TO ACCEPT OR CASH,
FOR COMPENSATION, A PAYMENT INSTRUMENT REGARDLESS OF THE DATE OF THE
PAYMENT INSTRUMENT.
12-102.
(A) THIS SUBTITLE DOES NOT APPLY TO CHECK CASHING SERVICES:
(1) (I) FOR WHICH A FEE OF $2 $4 OR LESS UP TO 1.5% OF THE FACE
AMOUNT OF THE PAYMENT INSTRUMENT IS CHARGED PER PAYMENT INSTRUMENT; AND
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(II) THAT ARE INCIDENTAL TO THE RETAIL SALE OF GOODS OR
SERVICES BY THE PERSON THAT IS PROVIDING THE CHECK CASHING SERVICES:
(2) IN WHICH A CUSTOMER PRESENTS A PAYMENT INSTRUMENT FOR
THE EXACT AMOUNT OF A PURCHASE; OR
(3) INVOLVING FOREIGN CURRENCY EXCHANGE SERVICES OR THE
CASHING OF A PAYMENT INSTRUMENT DRAWN ON A FINANCIAL INSTITUTION OTHER
THAN A FEDERAL, STATE, OR OTHER STATE FINANCIAL INSTITUTION.
(B) (1) THIS SUBTITLE DOES NOT APPLY TO A TRANSACTION THAT IS
SUBJECT TO THE MARYLAND CONSUMER LOAN LAW (TITLE 12, SUBTITLE 3 OF THE
COMMERCIAL LAW ARTICLE AND TITLE 11, SUBTITLE 2 OF THE FINANCIAL
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- 3226 -
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