§53-275. Definitions

As used in this Article, unless the context clearly requires otherwise, the term:

(1)        "Cashing" means providing currency for payment instruments, but does not include the bona fide sale or exchange of travelers checks and foreign denomination payment instruments.

(2)        "Check-cashing service" means any person or entity engaged in the business of cashing checks, drafts, or money orders for a fee, service charge, or other consideration.

(3)        "Commission" means the State Banking Commission.

(4)        "Commissioner" means the Commissioner of Banks.

(5)        "Licensee" means a person or entity licensed to engage in a check-cashing business under this Article.

(6)        "Person" means an individual, partnership, association, or corporation.

(1997-391, s. 1.)