Vermont Statutes Title 8 Sec. 2515
Terms Used In Vermont Statutes Title 8 Sec. 2515
- 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
- Contract: A legal written agreement that becomes binding when signed.
- 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
- 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
§ 2515. Check cashing and currency exchange licenses required
(a) A person licensed under this subchapter may engage in check cashing and currency exchange.
(b) A person licensed under subchapter 2 of this chapter may engage in check cashing and currency exchange without first obtaining a separate license under this subchapter.
(c) An authorized delegate of a person licensed under subchapter 2 of this chapter may engage in check cashing and currency exchange without first obtaining a license under this subchapter if such money services are within the scope of activity permissible under the contract between the authorized delegate and the licensee. (Added 2001, No. 55, § 1, eff. Jan. 1, 2002.)