Florida Statutes 560.303 – License required
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 560.303
- Authorized vendor: means a person designated by a money services business licensed under part II of this chapter to act on behalf of the licensee at locations in this state pursuant to a written contract with the licensee. See Florida Statutes 560.103
- Cashing: means providing currency for payment instruments except for travelers checks. See Florida Statutes 560.103
- Currency: means the coin and paper money of the United States or of any other country which is designated as legal tender and which circulates and is customarily used and accepted as a medium of exchange in the country of issuance. See Florida Statutes 560.103
- Person: means an individual, partnership, association, trust, corporation, limited liability company, or other group, however organized, but does not include a public agency or instrumentality thereof. See Florida Statutes 560.103
(1) A person may not engage in, or in any manner advertise engagement in, the business of cashing payment instruments or exchanging foreign currency without being licensed under this part.
(2) A person licensed under this part may not engage directly in the activities that require a license under part II of this chapter but may be an authorized vendor for a person licensed under part II.
(3) A person exempt from licensure under this part engaging in the business of cashing payment instruments or the exchanging of foreign currency may not charge fees in excess of those provided in s. 560.309.