§ 53-277. Exemptions.
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§ 53-277. Exemptions.
(a)This Article does not apply to any of the following:
(1)A bank, savings institution, credit union, or farm credit system organized under the laws of the United States or any state.
(2)Any person or entity principally engaged in the bona fide retail sale of goods or services that, either as an incident to or independently of a retail sale or service and not holding itself out to be a check-cashing service, from time to time cashes checks, drafts, or money orders for a fee or other consideration and charges no more than two dollars ($2.00) for the service.
(b)A person licensed under Article 16B of this Chapter (Money Transmitters Act) is exempt from G.S. 53-276, 53-278, 53-279, and 53-284, but is deemed a licensee for purposes of the remaining provisions of this Article. This exemption does not apply to an authorized delegate of a person licensed under Article 16B of this Chapter. (1997-391, s. 1; 2001-443, s. 4; 2021-93, s. 12.)