Subchapter 1 General Provisions 2500 – 2502
Subchapter 2 Money Transmission Licenses 2505 – 2510
Subchapter 3 Check Cashing and Currency Exchange 2515 – 2519
Subchapter 4 Authorized Delegates 2525
Subchapter 5 Examinations; Reports; Records 2530 – 2535
Subchapter 6 Permissible Investments 2540 – 2541
Subchapter 7 Enforcement 2545 – 2551
Subchapter 8 Conservation, Liquidation, and Insolvency 2555
Subchapter 9 Nationwide Licensing System 2560 – 2561

Terms Used In Vermont Statutes > Title 8 > Chapter 79

  • Applicant: means a person that files an application for a license under this chapter. See
  • 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
  • Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
  • following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
  • Justice: when applied to a person, other than a Justice of the Supreme Court, shall mean a justice of the peace for the county for which he or she is elected or appointed. See
  • Licensee: means a person licensed under this chapter. See
  • Money: means a medium of exchange that is authorized or adopted by the United States or a foreign government. See
  • Money services: means money transmission, check cashing, or currency exchange. See
  • Money transmission: means to engage in the business of selling or issuing payment instruments, selling or issuing stored value, or receiving money or monetary value for transmission to a location within or outside the United States. See
  • Nationwide Mortgage Licensing System and Registry: means a licensing system developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators for the licensing and registration of licensees under this chapter, or any successor to the Nationwide Mortgage Licensing System and Registry, or any alternative or replacement licensing system as designated by the Commissioner. See
  • Oath: shall include affirmation where by law an affirmation may be substituted. See
  • Payment instrument: means a check, draft, money order, traveler's check, or other instrument for the transmission or payment of money or monetary value, whether or not negotiable. 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
  • Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency or instrumentality, or any other legal or commercial entity. See
  • Principal equity owner: means any person (or group of persons acting in concert) who owns or controls 10 percent or more of any class of equity interest in the applicant. See
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium, and is retrievable in perceivable form. See
  • Responsible individual: means an individual who is employed by a licensee and has principal, active managerial authority over the provision of money services by the licensee in this State. See
  • State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the U. See
  • Stored value: means monetary value that is evidenced by an electronic record. See
  • Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
  • Unsafe or unsound practice: means a practice or conduct by a person licensed to engage in money transmission or an authorized delegate of such a person which creates the likelihood of material loss, insolvency, or dissipation of the licensee's assets, or otherwise materially prejudices the interests of its customers. See