North Carolina General Statutes 53-275. Definitions
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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 bona fide sale or exchange of travelers checks and foreign denomination payment instruments.
Terms Used In North Carolina General Statutes 53-275
- Cashing: means providing currency for payment instruments, but does not include the bona fide sale or exchange of travelers checks and foreign denomination payment instruments. See North Carolina General Statutes 53-275
- Commission: means the State Banking Commission. See North Carolina General Statutes 53-275
- Commissioner: means the Commissioner of Banks. See North Carolina General Statutes 53-275
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
(2) “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.
(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 business under this Article.
(6) “Person” means an individual, partnership, association, or corporation. (1997-391, s. 1.)