<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".04" citation="COMAR 09.03.14.04" title_num="09" subtitle_num="03" chapter_num="14" heading="Relationship to Federal Law.">
  <paragraph num="A.">
    <text>If State money transmission jurisdiction is conditioned on a federal law, any inconsistencies between a provision of the Maryland Money Transmission Act and the federal law governing money transmission shall be governed by the applicable federal law to the extent of the inconsistency.</text>
  </paragraph>
  <paragraph num="B.">
    <text>If any inconsistencies exist between the Maryland Money Transmission Act and a federal law that governs pursuant to this regulation, the Commissioner may provide interpretive guidance that:</text>
    <paragraph num="(1)">
      <text>Identifies the inconsistency; and</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Identifies the appropriate means of compliance with federal law.</text>
    </paragraph>
  </paragraph>
</regulation>