6.2-2102 - (Effective October 1, 2010) Exempt persons. - Virginia Statutes

§ 6.2-2102. (Effective October 1, 2010) Exempt persons.

This chapter shall not apply to:

1. Any person who:

a. Does not hold itself out to be a check cashing service;

b. Is principally engaged in the bona fide retail sale of goods or services;

c. Either as an incident to or independently of such a retail sale from timeto time cashes items; and

d. Charges a fee or other consideration for the service that does not exceedthe greater of $2 or two percent of the amount of the item; or

2. Any person authorized to engage in business as a bank, savingsinstitution, or credit union under the laws of the United States or any state.

(1995, c. 221, § 6.1-434; 2010, c. 794.)