Article 22.
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/nc/chapter-53/22A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Article 22.
Check-Cashing Businesses.
§ 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.)