As used in this article, the term: “Cash payment instruments” or “cashing payment instruments” means to accept a payment instrument from a person in exchange for monetary value less a fee. “Check” means any check, money order, draft, or negotiable demand instrument. “Check casher” means an individual, partnership, association, or corporation engaged in cashing payment […]
Pursuant to this article, the department may license a person to cash payment instruments. No person shall cash payment instruments without first obtaining a license under this article. Every person that directly or indirectly controls another person that violates subsection (b) of this Code section, each general partner, executive officer, joint venture, ultimate equitable owner, […]
The requirement for licensure set forth in this article shall not apply to: Any state or federally chartered bank, trust company, credit union, savings and loan association, or savings bank with deposits that are federally insured; The United States Postal Service; A state or federal governmental department, agency, authority, or instrumentality and its agents; Any […]
Each applicant for a license under this article shall: Submit an application in writing, which is made under oath and in such form as the department may prescribe; Furnish to the Nationwide Multistate Licensing System and Registry the following information: The legal name and principal office address of the person applying for the license; The […]
A mobile payment instrument cashing facility operated by a licensee shall be treated as a branch location and the operations of the facility shall be conducted in accordance with the rules and regulations of the department. History. Code 1981, § 7-1-702.1 , enacted by Ga. L. 2014, p. 251, § 2/HB 982.
The department is authorized to: Participate in the Nationwide Multistate Licensing System and Registry in order to facilitate the sharing of information and standardization of the licensing and application processes for persons subject to this article; Enter into operating agreements, information sharing agreements, interstate cooperative agreements, and other contracts necessary for the department’s participation in […]
The department shall conduct an investigation of every applicant for licensure to determine the financial responsibility, experience, character, and general fitness of such applicant. The department may issue the applicant a license to cash payment instruments if the department determines to its general satisfaction that: The applicant is financially sound and responsible and able to […]
Each licensee shall submit to the Nationwide Multistate Licensing System and Registry timely reports of condition, which shall be in such form and shall contain such information as the department and the Nationwide Multistate Licensing System and Registry may require. History. Code 1981, § 7-1-703.1 , enacted by Ga. L. 2014, p. 251, § 2/HB […]
The unique identifier of any licensee shall be clearly labeled on all advertisements and any other documents required by rule or regulation of the department. History. Code 1981, § 7-1-703.2 , enacted by Ga. L. 2014, p. 251, § 2/HB 982.
Except as otherwise specifically provided in this article, all licenses issued pursuant to this article shall expire on December 31 of each year, and each application for renewal shall be made annually on or before December 1 of each year. A license may be renewed by the filing of an application substantially conforming to the […]
A license issued pursuant to this article shall be kept conspicuously posted in the place of business of the licensee. Such license shall not be transferable or assignable. No licensee shall cash payment instruments under any name or names other than those authorized by the department in writing. A licensee shall give written notice to […]
A licensee shall give written notice to the department of any action which may be brought against it by any creditor or claimant where such action relates to activities authorized under this article or involves a claim against the bond filed with the department under subsection (c) of Code Section 7-1-707. The notice shall provide […]
Except as provided in this Code section, no person shall become an ultimate equitable owner of any licensee through acquisition or other change in control or become an executive officer of a licensee as a result of such acquisition or other change in control unless the person has first received written approval for such acquisition, […]
Each licensee shall make, keep, and use in its business such books, accounts, and records as the department may require to enforce the provisions of this article and the rules and regulations promulgated under it. Each licensee shall preserve such books, accounts, and records for five years or such greater period of time as prescribed […]
Without limiting the power conferred by Article 1 of this chapter, the department may make reasonable rules and regulations, not inconsistent with law, for the interpretation and enforcement of this article. History. Code 1981, § 7-1-706.1 , enacted by Ga. L. 2014, p. 251, § 2/HB 982.
No licensee shall deposit with any financial institution a payment instrument it has accepted and exchanged for monetary value unless such payment instrument is endorsed by the licensee. No licensee shall receive any payment instrument with payment deferred pending collection. Payment shall be made immediately in cash for every payment instrument accepted by the licensee […]
In every location operated by a licensee, there shall be conspicuously posted and at all times displayed a notice stating the charges for cashing payment instruments. History. Code 1981, § 7-1-707.1 , enacted by Ga. L. 2014, p. 251, § 2/HB 982.
The department may suspend or revoke an original or renewal license issued pursuant to this article if it finds that any ground or grounds exist which would require or warrant the refusal of an application for the issuance or renewal of a license if such an application were then before it. The department may also […]
Where an applicant or licensee has been found to be a borrower in default under the Georgia Higher Education Loan Program as determined by the Georgia Higher Education Assistance Corporation or has been certified by any entity of the federal government for nonpayment or default or breach of a repayment or service obligation under any […]
The department may issue an order requiring a person to cease and desist immediately from unauthorized activities whenever it shall appear to the department that: Except as provided in paragraph (2) of this subsection, a person has violated any law of this state or any order or regulation of the department, and such cease and […]
