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S.B. 774
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VETOES
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subsidiary of a corporation whose capital stock is listed on a national exchange and is
not a licensee or [agent] AUTHORIZED DELEGATE OF a licensee under this subtitle.
[The borrowing agreements shall be filed with the Commissioner in addition to
quarterly financial statements and any other financial information as the
Commissioner may deem necessary]; [and]
(4) RECEIVABLES THAT ARE DUE TO A LICENSEE FROM ITS
AUTHORIZED DELEGATES UNDER A CONTRACT DESCRIBED IN § 12-413 OF THIS
SUBTITLE THAT ARE NOT PAST DUE OR DOUBTFUL OF COLLECTION; OR
[(4)] (5) Any other investment that the Commissioner approves.
(P) (1) "STORED VALUE DEVICE" MEANS A CARD OR OTHER TANGIBLE
OBJECT USED FOR THE TRANSMISSION OR PAYMENT OF MONEY:
(I) THAT CONTAINS A MICROPROCESSOR CHIP, MAGNETIC STRIPE,
OR OTHER MEANS FOR THE STORAGE OF INFORMATION;
(II) THAT IS PREFUNDED; AND
(III) THE VALUE OF WHICH IS REDUCED AFTER EACH USE.
(2) "STORED VALUE DEVICE" DOES NOT INCLUDE ANY TANGIBLE
OBJECT THE VALUE OF WHICH IS REDEEMABLE ONLY IN THE ISSUER'S GOODS OR
SERVICES.
(Q) "SURETY DEVICE" MEANS:
(1) A SURETY BOND; OR
(2) A DEPOSIT IN LIEU OF A SURETY BOND.
12-402.
(a) The licensing provisions of this subtitle do not apply to:
(1) Any banking institution;
(2) ANY OTHER-STATE BANK;
[(2)] (3) Any national banking association;
[(3)] (4) Any credit union;
[(4)] (5) Any savings and loan association OR SAVINGS BANK;
[(5)] (6) The United States government or any of its departments, [or]
agencies, OR INSTRUMENTALITIES;
[(6)] (7) The sale of payment instruments by any person on behalf of any
other person who is exempted by this subsection, if the payment instruments were
received from the other person under a trust receipt for the specific purpose of sale;
[(7)] (8) [Any other-state bank having a branch in this State;] THE
PROVISION OF ELECTRONIC TRANSFER OF GOVERNMENT BENEFITS FOR ANY
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- 4848 -
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