§ 2505. License required A person licensed under this subchapter or that is an authorized delegate of a person licensed under this subchapter may engage in money transmission and may also engage in check cashing or currency exchange without obtaining a separate license under subchapter 3 of this chapter. (Added 2001, No. 55, § 1, […]
§ 2506. Application for license; additional information (a) 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) a description of any money services previously provided by the applicant and the money services that the applicant seeks to provide in […]
§ 2507. Security (a) Except as otherwise provided in subsection (b) of this section, the following rules apply: (1) A surety bond, letter of credit, or other similar security acceptable to the Commissioner of not less than $100,000.00 shall accompany an application for a license. (2) If an applicant proposes to provide money services at […]
§ 2510. Net worth A licensee under this subchapter shall maintain a net worth of at least $100,000.00, determined in accordance with generally accepted accounting principles. (Added 2001, No. 55, § 1, eff. Jan. 1, 2002.)
§ 2511. Activities of money transmitters; receipts and refunds (a) Every money transmitter licensee and its authorized delegates shall provide a receipt to the customer that clearly states the name, address, and telephone number of the licensee; the amount of money presented for transmission; and the total of any fees charged by the licensee. (1) […]
