North Carolina General Statutes 53-283. Prohibited practices
No person required to be licensed under this Article shall do any of the following:
(1) Charge fees in excess of those authorized under this Article.
Terms Used In North Carolina General Statutes 53-283
- 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
- Commissioner: means the Commissioner of Banks. 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
(2) Engage in the business of making loans of money, or extensions of credit, or discounting notes, bills of exchange, items, or other evidences of debt; or accepting deposits or bailments of money or items, except as expressly provided by N.C. Gen. Stat. § 53-281
(3) Use or cause to be published or disseminated any advertising communication which contains any false, misleading, or deceptive statement or representation.
(4) Conduct business at premises or locations other than locations licensed by the Commissioner.
(5) Engage in unfair, deceptive, or fraudulent practices.
(6) Cash a check, draft, or money order made payable to a payee other than a natural person unless the licensee has previously obtained appropriate documentation from the executive entity of the payee clearly indicating the authority of the natural person or persons cashing the check, draft, or money order on behalf of the payee. (1997-391, s. 1.)