As used in this chapter, unless the context requires a different meaning: “Check casher” means a person engaged in the business of cashing checks, drafts, or money orders for compensation. “Item” means a check, draft, or money order. “Registrant” means a person registered under this chapter. “Registration” means a registration filed under this chapter. 1995, […]
A. No person shall engage in business as a check casher in the Commonwealth unless such person has first registered with the Commission in accordance with procedures established by the Commission under this chapter. B. Every registered check casher shall give written notice to the Commission, within 10 days thereafter, of the opening, closing, or […]
This chapter shall not apply to: 1. Any person who: a. Does not hold itself out to be a check cashing service; b. Is principally engaged in the bona fide retail sale of goods or services; c. Either as an incident to or independently of such a retail sale from time to time cashes items; […]
A. Each registration form shall be accompanied by payment of a $200 fee, which shall not be refundable or abated in any event. B. To defray the costs of their examination, supervision and regulation, check cashers required to be registered under this chapter shall pay to the Commission annually on or before July 1 a […]
The Commission, upon receiving a complaint or upon its own motion, may investigate the affairs, business, premises and records of any person required to be registered under this chapter. In the course of such investigation, all persons associated with the person being investigated shall afford full access to all premises, books, records and information which […]
A. A registrant shall conspicuously post and at all times display, in every location at which it conducts the business of a check casher, a notice stating the fees charged for cashing items. A registrant shall further file with the Commissioner a statement of the fees currently charged at every such location. B. Items cashed […]
The Commission shall adopt such regulations as it deems appropriate to effect the purposes of this chapter. Before adopting any such regulations, the Commission shall give reasonable notice of the content thereof, and shall afford interested parties an opportunity to be heard, in accordance with the Commission’s Rules. 1995, c. 221, § 6.1-438; 2010, c. […]
No person required to be registered under this chapter shall: 1. Engage in the business of making loans of credit, goods, or things; or discounting notes, bills of exchange, items, or other evidences of debt; or accepting deposits or bailments of money or items without meeting the requirements of the laws of the Commonwealth; 2. […]
A. As used in this section, a customer’s “identification document” means any of the following: 1. A state-issued driver’s license or identification card; 2. A U.S. government resident alien identification card; 3. A passport; 4. A U.S. military identification card; 5. A Non-U.S. government identification card; 6. A Mexican Matricula identification card; or 7. Other […]
A. The Commission may impose a civil penalty not exceeding $1,000 upon any person required to be registered hereunder who it determines, in proceedings commenced in accordance with the Commission’s Rules, has violated any of the provisions of this chapter or regulations adopted thereunder. However, the civil penalty that may be imposed upon any registrant […]
Any person required to be registered under this chapter who acts as a check casher without first registering with the Commission as required by § 6.2-2101 is guilty of a Class 1 misdemeanor. For the purposes of this section, each transaction entered into involving the cashing of an item by such person shall constitute a […]
A. The Commission may revoke a registration under this chapter upon any of the following grounds: 1. Any violation of the provisions of this chapter or regulations adopted thereunder or of any law or regulation applicable to the conduct of the registrant’s business; 2. Charging fees for cashing items in excess of fees posted at […]
The Commission may not revoke a registration under this chapter until it has given the registrant 21 days’ notice in writing of the grounds for the proposed revocation and an opportunity to be heard. The notice shall be served in accordance with § 12.1-19.1. Within 14 days of mailing the notice, the registrant may file […]
