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PARRIS N. GLENDENING, Governor
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S.B. 774
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FEDERAL, STATE, OR COUNTY GOVERNMENTAL AGENCY AS DEFINED IN FEDERAL
RESERVE BOARD REGULATION E, BY A CONTRACTOR FOR AND ON BEHALF OF THE
UNITED STATES OR ANY OF ITS DEPARTMENTS, AGENCIES, OR INSTRUMENTALITIES,
OR ANY STATE OR ANY POLITICAL SUBDIVISION OF ANY STATE; or
[(8)](9) Any [agent] AUTHORIZED DELEGATE of a licensee, acting
within the scope of authority conferred by a written contract as described in § 12-413
of this subtitle.
(b) Any person who is exempted by this section nevertheless may apply for
and, if qualified, receive a license.
12-403.
[The Commissioner may] TO CARRY OUT THE PROVISIONS OF THIS SUBTITLE,
THE COMMISSIONER MAY:
(1) [adopt] ADOPT rules and regulations [to carry out the provisions of
this subtitle.];
(2) ENTER INTO COOPERATIVE AND INFORMATION SHARING
AGREEMENTS WITH ANY FEDERAL OR STATE AGENCY HAVING SUPERVISORY
RESPONSIBILITY OVER THE BUSINESS OF MONEY TRANSMISSION; AND
(3) PROVIDE ANY FEDERAL OR STATE AGENCY HAVING SUPERVISORY
RESPONSIBILITY OVER MONEY TRANSMISSION WITH ANY DOCUMENTS OR OTHER
INFORMATION.
12-104.
(A) IN THIS SECTION, "FUND" MEANS THE MONEY TRANSMISSION FUND
ESTABLISHED UNDER THIS SECTION.
(B) THERE IS A MONEY TRANSMISSION FUND THAT CONSISTS OF:
(1) ALL REVENUE RECEIVED FOR THE LICENSING OF PERSONS WHO
ENGAGE IN THE BUSINESS OF MONEY TRANSMISSION UNDER THIS SUBTITLE;
(2) INCOME FROM THE INVESTMENTS THAT THE STATE TREASURER
MAKES FOR THE FUND; AND
(3) ANY OTHER FEE, EXAMINATION ASSESSMENT, OR REVENUE
RECEIVED BY THE COMMISSIONER UNDER THIS SUBTITLE.
(C) NOTWITHSTANDING SUBSECTION (B) OF THIS SECTION, THE
COMMISSIONER SHALL PAY ALL FINES AND PENALTIES COLLECTED BY THE
COMMISSIONER UNDER THIS SUBTITLE INTO THE GENERAL FUND OF THE STATE.
(D) THE PURPOSE OF THE FUND IS TO PAY ALL THE COSTS AND EXPENSES
INCURRED BY THE COMMISSIONER THAT ARE RELATED TO THE REGULATION OF THE
BUSINESS OF MONEY TRANSMISSION UNDER THIS SUBTITLE, INCLUDING:
(1) EXPENDITURES AUTHORIZED UNDER THIS SUBTITLE; AND
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- 4849 -
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