North Carolina General Statutes 53-276. License required
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Terms Used In North Carolina General Statutes 53-276
- 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
- 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
- Person: means an individual, partnership, association, or corporation. See North Carolina General Statutes 53-275
No person or other entity may engage in the business of cashing checks, drafts, or money orders for consideration without first obtaining a license under this Article. No person or other entity providing a check-cashing service may avoid the requirements of this Article by providing a check or other currency equivalent instead of currency when cashing payment instruments. (1997-391, s. 1.)