Vermont Statutes Title 8 Sec. 2505
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Terms Used In Vermont Statutes Title 8 Sec. 2505
- 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
- Money: means a medium of exchange that is authorized or adopted by the United States or a foreign government. See
§ 2505. License required
A person licensed under this subchapter or that is an authorized delegate of a person licensed under this subchapter may engage in money transmission and may also engage in check cashing or currency exchange without obtaining a separate license under subchapter 3 of this chapter. (Added 2001, No. 55, § 1, eff. Jan. 1, 2002.)