North Carolina General Statutes 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.
Terms Used In North Carolina General Statutes 53-277
- Check-cashing service: means any person or entity engaged in the business of cashing checks, drafts, or money orders for a fee, service charge, or other consideration. See North Carolina General Statutes 53-275
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Licensee: means a person or entity licensed to engage in a check-cashing business under this Article. See North Carolina General Statutes 53-275
- Person: means an individual, partnership, association, or corporation. See North Carolina General Statutes 53-275
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
- United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
(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 N.C. Gen. Stat. § 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.)