32 §6131. Short title

§6131. Short title This subchapter may be known and cited as the “Check Cashing and Foreign Currency Exchange Act.”   [PL 1997, c. 155, Pt. A, §2 (NEW).] SECTION HISTORY PL 1997, c. 155, §A2 (NEW).

32 §6132. Definitions

§6132. Definitions As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.   [PL 1997, c. 155, Pt. A, §2 (NEW).] 1.  Administrator.  “Administrator” means the Superintendent of Consumer Credit Protection.   [PL 1997, c. 155, Pt. A, §2 (NEW); PL 2007, c. 273, Pt. B, §6 (REV); […]

32 §6133. Registration required

§6133. Registration required 1.  Registration.  On or after January 1, 1998, a person except one exempt pursuant to section 6132, subsection 5 or 6, may not engage in the business of check cashing or foreign currency exchange without registering as provided in this subchapter.   [PL 1997, c. 155, Pt. A, §2 (NEW).] 2.  Additional […]

32 §6134. Application

§6134. Application An application for registration must be in writing and under oath to the administrator, in such form as the administrator may prescribe. The application must include the following information:   [PL 1997, c. 155, Pt. A, §2 (NEW).] 1.  Name and residence.  The legal name and residence and business addresses of the applicant, […]

32 §6135. Registration standards

§6135. Registration standards 1.  Investigation.  Upon the filing of an application for registration, the administrator shall investigate the applicant with respect to:   A. The business records and the capital adequacy of the person seeking the registration;   [PL 1997, c. 155, Pt. A, §2 (NEW).] B. The competence, experience, integrity and financial ability of […]

32 §6136. Registration term; renewal

§6136. Registration term; renewal 1.  Effective registrations.  Registration pursuant to this subchapter remains effective through the remainder of the calendar year of its date of issuance, unless sooner surrendered, suspended or revoked.   [PL 1997, c. 155, Pt. A, §2 (NEW).] 2.  Annual renewal.  Registrations must be renewed annually, in such form as the administrator […]

32 §6137. Fees (REPEALED)

§6137. Fees (REPEALED) SECTION HISTORY PL 1997, c. 155, §A2 (NEW). PL 2021, c. 245, Pt. D, §23 (RP).

32 §6138. Limitations

§6138. Limitations 1.  Endorsement.  Before a registrant may deposit, with any financial institution, a payment instrument that is cashed by a registrant, the item must be endorsed with the actual name under which the registrant is doing business.   [PL 1997, c. 155, Pt. A, §2 (NEW).] 2.  Compliance with state and federal law.  Registrants […]

32 §6139. Records of check cashing and foreign currency exchange business

§6139. Records of check cashing and foreign currency exchange business 1.  Maintenance of records.  A registrant shall maintain all books, accounts, records and documents necessary to determine the registrant’s compliance with the provisions of this subchapter. Books, accounts, records and documents must be retained for a period of at least 3 years.   [PL 1997, […]

32 §6140. Examinations

§6140. Examinations 1.  Examination.  The administrator may examine the books, accounts and records of an applicant or registrant and make investigations to determine compliance with this subchapter.   [PL 1997, c. 155, Pt. A, §2 (NEW).] 2.  Expenses.  The expenses of the administrator necessarily incurred in the examination or investigation of any applicant or registrant […]

32 §6141. Reporting requirements

§6141. Reporting requirements A registrant under this subchapter shall:   [PL 1997, c. 155, Pt. A, §2 (NEW).] 1.  Disclose to administrator.  Disclose to the administrator the fees charged to consumers for services regulated by this subchapter; and   [PL 1997, c. 155, Pt. A, §2 (NEW).] 2.  Disclose to public.  Conspicuously disclose to the […]

32 §6142. Suspension or revocation of registration

§6142. Suspension or revocation of registration After notice and hearing, the administrator may suspend or revoke a registrant’s registration if the administrator finds that:   [PL 1997, c. 155, Pt. A, §2 (NEW).] 1.  Grounds for denial.  A fact or condition exists that, if it had existed at the time when the registrant applied for […]

32 §6143. Penalties

§6143. Penalties 1.  Criminal penalty.  A person who carries on a business regulated by this subchapter without a valid registration is guilty of a Class E crime.   [PL 1997, c. 155, Pt. A, §2 (NEW).] 2.  Civil penalty.  A registrant who fails to comply with a provision of this subchapter is subject to a […]

32 §6144. Adoption of rules

§6144. Adoption of rules Rules adopted under this subchapter are routine technical rules as defined in Title 5, chapter 375, subchapter II‑A.   [PL 1997, c. 155, Pt. A, §2 (NEW).] SECTION HISTORY PL 1997, c. 155, §A2 (NEW).

32 §6145. Designation of agent for service of process

§6145. Designation of agent for service of process An applicant must designate and maintain an agent in this State for service of process.   [PL 1997, c. 155, Pt. A, §2 (NEW).] SECTION HISTORY PL 1997, c. 155, §A2 (NEW).

32 §6146. Privacy of consumer financial information

§6146. Privacy of consumer financial information A check cashing business or foreign currency exchange business shall comply with the provisions of the federal Gramm-Leach-Bliley Act, 15 United States Code, Section 6801 et seq. (1999) and the applicable implementing federal Privacy of Consumer Information regulations, as adopted by the Office of the Comptroller of the Currency, […]