§ 53-275. Definitions. - North Carolina Statutes

Article22.

Check‑CashingBusinesses.

§ 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 bonafide sale or exchange of travelers checks and foreign denomination paymentinstruments.

(2)        "Check‑cashingservice" means any person or entity engaged in the business of cashingchecks, drafts, or money orders for a fee, service charge, or otherconsideration.

(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 businessunder this Article.

(6)        "Person"means an individual, partnership, association, or corporation. (1997‑391,s. 1.)