Terms Used In Vermont Statutes > Title 6 > Chapter 22 - Irradiation of Foods

• Authorized delegate: means a person located in this State that a licensee designates to provide money services on behalf of the licensee. See
• Check cashing: means receiving at least $500. See
• Currency exchange: means receipt of revenues equal to or greater than five percent of total revenues from the exchange of money of one government for money of another government. See
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Money: means a medium of exchange that is authorized or adopted by the United States or a foreign government. See
• Money services: means money transmission, check cashing, or currency exchange. See
• Money transmission: means to engage in the business of selling or issuing payment instruments, selling or issuing prepaid access, or receiving money or monetary value for transmission to a location within or outside the United States. See
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Payment instrument: means a check, draft, money order, traveler's check, or other instrument for the transmission or payment of money or monetary value, whether or not negotiable. See
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Prepaid access: means funds or monetary value represented in digital electronic format, including virtual currency, whether or not specially encrypted, that are stored or capable of storage on electronic media and are retrievable and transferable electronically. See
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Virtual currency: means a digital representation of value that: