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PARRIS N. GLENDENING, Governor
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S.B. 450
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May 18, 2000
The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401
Dear Mr. President:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed Senate Bill 450 - Check Cashing Services - Licensing - Maximum Fees.
This bill requires check cashing services, with specified exceptions, to be licensed by
the Commissioner of Financial Regulation. This bill specifies the qualifications
needed to obtain a license and the required license and renewal fees.
House Bill 516, which was passed by the General Assembly and signed by me today,
accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate
Bill 450.
Sincerely,
Parris N. Glendening
Governor
Senate Bill No. 450
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
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