|
|
|
|
|
|
|
|
|
|
|
|
|
|
PARRIS N. GLENDENING, Governor Ch. 614
|
|
|
|
|
|
|
|
|
|
INSTITUTIONS ARTICLE), INCLUDING A TRANSACTION IN WHICH AN ADDITIONAL FEE
IS CHARGED TO DEFER THE PRESENTMENT OR DEPOSIT OF A PAYMENT
INSTRUMENT UNTIL A SUBSEQUENT DATE.
(2) A CHECK CASHING SERVICE IN WHICH A PAYMENT INSTRUMENT IS
DEFERRED FOR PRESENTMENT OR DEPOSIT IS NOT SUBJECT TO THE MARYLAND
CONSUMER LOAN LAW IF:
(I) THE FEE CHARGED FOR THE CHECK CASHING SERVICE DOES
NOT EXCEED THE FEE PERMITTED UNDER THIS SUBTITLE;
(II) NO ADDITIONAL FEE IS CHARGED TO DEFER THE
PRESENTMENT OR DEPOSIT OF THE PAYMENT INSTRUMENT; AND
(III) THE CHECK CASHING SERVICE IS NOT SUBJECT TO RENEWAL
OR EXTENSION BY ANY MEANS.
12-103.
SECTIONS 12-106, 12-107, AND 12-108(C) AND (D)(2) OF THIS SUBTITLE DO NOT
APPLY TO:
(1) A BANKING INSTITUTION;
(2) A NATIONAL BANKING ASSOCIATION;
(3) A FEDERAL OR STATE SAVINGS AND LOAN ASSOCIATION;
(4) A FEDERAL OR STATE CREDIT UNION; OR
(5) AN OTHER STATE BANK HAVING A BRANCH IN THIS STATE.
(A) THIS SUBTITLE DOES NOT APPLY TO:
(1) ANY BANK, TRUST COMPANY, SAVINGS BANK, SAVINGS AND LOAN
ASSOCIATION, OR CREDIT UNION INCORPORATED OR CHARTERED UNDER THE LAWS
OF THIS STATE OR THE UNITED STATES THAT MAINTAINS ITS PRINCIPAL OFFICE IN
THIS STATE;
(2) ANY OUT-OF-STATE BANK, AS DEFINED IN § 5-1001 OF THIS ARTICLE,
HAVING A BRANCH THAT ACCEPTS DEPOSITS IN THIS STATE; AND
(3) ANY INSTITUTION INCORPORATED UNDER FEDERAL LAW AS A
SAVINGS ASSOCIATION OR SAVINGS BANK THAT DOES NOT MAINTAIN ITS PRINCIPAL
OFFICE IN THIS STATE BUT HAS A BRANCH THAT ACCEPTS DEPOSITS IN THIS STATE.
(B) A SUBSIDIARY OR AFFILIATE OF AN INSTITUTION DESCRIBED IN
SUBSECTION (A) OF THIS SECTION IS EXEMPT FROM ALL REQUIREMENTS OF
LICENSING UNDER THIS SUBTITLE PROVIDED THE SUBSIDIARY OR AFFILIATE:
(1) IS SUBJECT TO AUDIT OR EXAMINATION BY A REGULATORY BODY OR
AGENCY OF THIS STATE, THE UNITED STATES, OR THE STATE WHERE THE
SUBSIDIARY OR AFFILIATE MAINTAINS ITS PRINCIPAL OFFICE; AND
|
|
|
|
|
|
|
|
|
- 3227 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
