Section 12-210 – Term and Renewal of Permit
(a) A permit expires on the third anniversary of its effective date, unless the permit is renewed for a 3–year term as provided in this section. (b) Before its permit expires, the foreign banking corporation may renew the permit for additional 3–year terms if the foreign banking corporation: (1) At least 30 days before its permit expires submits […]
Section 12-211 – Power to Set Fees
The Commissioner shall set the application and renewal fees in amounts that reasonably relate to the cost of processing the applications.
Section 12-117 – Compliance With Federal and State Laws
A licensee shall comply with all federal and State laws concerning money laundering.
Section 12-402 – Scope of Subtitle
(a) The provisions of this subtitle do not apply to: (1) Any banking institution; (2) Any other-state bank; (3) Any national banking association or savings bank; (4) Any credit union; (5) Any savings and loan association; (6) The United States government or any of its departments, agencies, or instrumentalities; (7) An accredited institution of higher education, as defined under § 10-101 of the […]
Section 12-118 – Posting of Fees
A licensee shall conspicuously post, in 48 point or larger type, at each place of business at which, or mobile unit from which, the licensee provides check cashing services: (1) A notice of the fees for check cashing services; and (2) The phone number of the Commissioner for customers to file complaints.
Section 12-403 – Powers of Commissioner
To carry out the provisions of this subtitle, the Commissioner may: (1) Adopt rules and regulations; (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 […]
Section 12-119 – Payment of Instrument; Forms of Customer Identification
(a) A licensee shall pay a customer, in United States currency, the face amount of the payment instrument received less the fee charged. (b) (1) A licensee may not provide check cashing services to a customer unless the customer presents a form of customarily acceptable identification. (2) Acceptable forms of identification include: (i) A valid driver’s license with photograph issued […]
Section 12-120 – Maximum Fees; Membership Fee
(a) Except as provided in § 15-802(b) of the Commercial Law Article and subsection (b) of this section, a licensee may not charge any other fee, including late fees or other service fees, for accepting or cashing a payment instrument in excess of the greater of: (1) 2% of the face amount of the payment instrument or […]
Section 12-121 – Cease and Desist Orders
Subject to the hearing provisions of § 12–123 of this subtitle, the Commissioner may order a licensee or registrant to cease and desist from a course of conduct if the course of conduct results in an evasion or violation of this subtitle or a regulation adopted under this subtitle.
Section 12-122 – Suspension and Revocation of License
(a) Subject to the hearing provisions of § 12–123 of this subtitle, the Commissioner may suspend or revoke the license of any licensee or registration of any registrant if the licensee or registrant, or any owner, director, officer, member, partner, stockholder, employee, or agent of the licensee or registrant: (1) Makes any material misstatement in an application […]