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<section article="gfi" article_name="Financial Institutions" number="12-101" title_number="12" title_name="Miscellaneous Institutions and Activities" subtitle_number="1" subtitle_name="Check Cashing Services">
  <level label="a">
    <text>In this subtitle the following words have the meanings indicated.</text>
  </level>
  <level label="b">
    <level label="1">
      <text>“Control person” means a person who has the power, directly or indirectly, to direct the management or policies of a licensee or license applicant, whether through ownership of securities, by contract, or otherwise.</text>
    </level>
    <level label="2">
      <text>“Control person” includes a person who:</text>
      <level label="i">
        <text>Is a general partner, an officer, a director, or a member, or occupies a similar position or performs a similar function;</text>
      </level>
      <level label="ii">
        <text>Directly or indirectly has the right to vote 5% or more of a class of voting securities, or has the power to sell or direct the sale of 5% or more of a class of voting securities, of a licensee or license applicant; or</text>
      </level>
      <level label="iii">
        <text>In the case of a partnership, a limited partnership, a limited liability partnership, a limited liability company, or any other business entity:</text>
        <level label="1">
          <text>Has the right to receive on liquidation or dissolution of a licensee or license applicant 5% or more of the capital of the licensee or license applicant; or</text>
        </level>
        <level label="2">
          <text>Has contributed 5% or more of the capital of a licensee or license applicant.</text>
        </level>
      </level>
    </level>
  </level>
  <level label="c">
    <text>“Exempt entity” means an entity that is exempt from all requirements of licensing as provided under § 12–103(b) and (c) of this subtitle.</text>
  </level>
  <level label="d">
    <text>“License” means a license issued in any form by the Commissioner under this subtitle to provide check cashing services, including as provided for through NMLS.</text>
  </level>
  <level label="e">
    <level label="1">
      <text>“Licensed location” means any location listed by the licensee in NMLS in accordance with this subtitle.</text>
    </level>
    <level label="2">
      <text>“Licensed location” includes a mobile unit.</text>
    </level>
  </level>
  <level label="f">
    <text>“Licensed name” means:</text>
    <level label="1">
      <text>The licensee’s legal name; and</text>
    </level>
    <level label="2">
      <text>Any trade name used by the licensee in accordance with § 2–121 of this article.</text>
    </level>
  </level>
  <level label="g">
    <text>“Licensee” means a person licensed under this subtitle to provide check cashing services.</text>
  </level>
  <level label="h">
    <text>“Mobile unit” means a motor vehicle or other movable means from which check cashing services are provided.</text>
  </level>
  <level label="i">
    <level label="1">
      <text>“Payment instrument” means a check or a draft ordering a person to pay money.</text>
    </level>
    <level label="2">
      <text>“Payment instrument” includes a money order.</text>
    </level>
  </level>
  <level label="j">
    <text>“Provide check cashing services” means to accept or cash, for compensation, a payment instrument regardless of the date of the payment instrument.</text>
  </level>
  <level label="k">
    <text>“Unique identifier” means a number or another identifier assigned by NMLS.</text>
  </level>
</section>
