§ 53-208.64 – Transition.
53-208.64. Transition. Any person who holds in good standing a money transmitters license issued by the Commissioner on or after November 1, 2014, may continue to engage in such business subject to the requirements of this Article. (2016-81, s. 1; 2017-102, s. 46.)
§ 53-208.59 – Confidentiality.
53-208.59. Confidentiality. (a) Notwithstanding any other provision of law, all information or reports obtained by the Commissioner from an applicant, licensee, or authorized delegate, whether obtained through reports, applications, examination, audits, investigation, or otherwise, including (i) all information contained in or related to examination, investigation, operating, or condition reports prepared by, on behalf of, or […]
§ 53-208.60 – Rules.
53-208.60. Rules. (a) The State Banking Commission may adopt rules necessary to implement this Article. (b) Pursuant to G.S. 53C-2-6(b), any person aggrieved by any rule or order of the Commissioner under this Act may appeal to the State Banking Commission for review upon providing notice in writing within 20 days after the act complained […]
§ 53-208.61 – Service of process.
53-208.61. Service of process. (a) Any person subject to this Article is deemed to have: (1) Consented to the jurisdiction of the courts of this State for all actions arising under this Article; and (2) Appointed the Secretary of State as such person’s agent for the purpose of accepting service of process in any action, […]
§ 53-208.62 – Commissioner's participation in nationwide registry.
53-208.62. Commissioner’s participation in nationwide registry. (a) The Commissioner may require all persons subject to this Article to be licensed through the NMLS, and upon issuing this requirement, the Commissioner shall establish a reasonable transition period. In order to carry out these requirements, the Commissioner may participate in the NMLS. (b) The Commissioner may establish […]
§ 53-208.63 – Severability.
53-208.63. Severability. Should any provision, sentence, clause, section, or part of this Article for any reason be held unconstitutional, illegal, or invalid, such unconstitutionality, illegality, or invalidity shall not affect or impair any of the remaining provisions, sentences, clauses, sections, or parts of this Article. (2016-81, s. 1; 2017-102, s. 46.)
§ 53-208.49 – Application fees and annual assessment.
53-208.49. Application fees and annual assessment. (a) Application Fees. Each application for initial licensure shall be accompanied by a nonrefundable filing fee of one thousand five hundred dollars ($1,500). (b) Annual Assessment. For the purpose of meeting the cost of regulation under this Article, each licensee shall pay to the Commissioner an annual assessment as […]
§ 53-208.50 – Issuance of license.
53-208.50. Issuance of license. (a) Upon receipt of a complete license application, as set forth under G.S. 53-208.45, the Commissioner shall investigate the financial condition and responsibility, financial and business experience, the character and general fitness of the applicant, and any other matters deemed relevant by the Commissioner. The Commissioner may require additional information and […]
§ 53-208.51 – Prohibited practices.
53-208.51. Prohibited practices. No person required to be licensed under this Article shall do any of the following: (1) Fail to remit all money or monetary value received for transmission pursuant to G.S. 53-208.42(13)b., or give instructions committing equivalent money or monetary value to the person designated by the sender within 10 days after receipt […]
§ 53-208.52 – Maintenance of records.
53-208.52. Maintenance of records. (a) Each licensee shall maintain such books, accounts, and other records as the Commissioner may require for a period of no less than three years unless the Commissioner, by rule, prescribes otherwise for particular types of records. Such records shall be segregated from any other business in which the licensee is […]