§ 2546. Termination or suspension of authorized delegate activity
§ 2546. Termination or suspension of authorized delegate activity (a) Section 2110 of this title applies to authorized delegates. (b) The Commissioner may issue an order suspending or barring any authorized delegate or any responsible individual, director, officer, member, manager, partner, or person in control of such authorized delegate from continuing to be or becoming […]
§ 2555. Conservation, liquidation, and insolvency
§ 2555. Conservation, liquidation, and insolvency To the extent applicable, the provisions of subchapters 2, 3, and 5 of chapter 209 of this title, excluding sections 19207, 19208, 19210, 19306, and 19307 of this title, shall apply to the conservation, liquidation, and insolvency of any licensee under this chapter. Such licensee shall be treated as […]
§ 2540. Maintenance of permissible investments
§ 2540. Maintenance of permissible investments (a) A licensee shall maintain at all times permissible investments that have a market value computed in accordance with generally accepted accounting principles of not less than the aggregate amount of all of its outstanding payment instruments and prepaid access obligations issued or sold and money transmitted by the […]
§ 2541. Types of permissible investments
§ 2541. Types of permissible investments (a) Except to the extent otherwise limited by the Commissioner pursuant to section 2540 of this title, the following investments are permissible under section 2540 of this title: (1) cash, a certificate of deposit, or a senior debt obligation of a depositary institution within the meaning of subdivision 11101(24) […]
§ 2515. Check cashing and currency exchange licenses required
§ 2515. Check cashing and currency exchange licenses required (a) A person licensed under this subchapter may engage in check cashing and currency exchange. (b) A person licensed under subchapter 2 of this chapter may engage in check cashing and currency exchange without first obtaining a separate license under this subchapter. (c) An authorized delegate […]
§ 2516. Application for license; additional information
§ 2516. Application for license; additional information In addition to the information required by section 2102 of this title, an application for a license under this subchapter shall state or contain: (1) the complete addresses of locations in this State where the applicant proposes to engage in check cashing or currency exchange, including all limited […]
§ 2519. Activities of check cashers and currency exchanges
§ 2519. Activities of check cashers and currency exchanges (a) Check cashing. (1) A licensee, in every location conducting business under a license issued pursuant to this chapter, shall conspicuously post and at all times display a notice stating all fees charged. A licensee shall file with the Commissioner a statement of the fees charged […]
§ 2525. Relationship between licensee and authorized delegate
§ 2525. Relationship between licensee and authorized delegate (a) In this subchapter, “remit” means to make direct payments of money to a licensee or its representative authorized to receive the money, or to deposit money in a depository institution within the meaning of subdivision 11101(24) of this title, in an account specified by the licensee. […]
§ 2530. Examinations
§ 2530. Examinations The Commissioner shall examine the affairs, business, and records of each licensee under this chapter as often as the Commissioner deems necessary to carry out the purposes of this part. (Added 2001, No. 55, § 1, eff. Jan. 1, 2002; amended 2011, No. 78 (Adj. Sess.), § 17, eff. April 2, 2012; […]
§ 2532a. Change of authorized delegates; change of location
§ 2532a. Change of authorized delegates; change of location A licensee shall notify the Commissioner in writing within 30 days of any change in the list of authorized delegates or locations in this State where the licensee or an authorized delegate of the licensee provides money services, including limited stations and mobile locations. Such notice […]