Article - Financial Institutions
(a) In this subtitle the following words have the meanings indicated.
(b) “Branch location” means any location other than the principal executive office of a licensee or license applicant at which the licensee conducts, or the license applicant, on licensure, will conduct, activities required to be licensed under this subtitle.
(c) (1) “Control person” means a person who has the power, directly or indirectly, to direct the management or policies of a licensee or license applicant, whether through ownership of securities, by contract, or otherwise.
(2) “Control person” includes a person who:
(i) Is a general partner, an officer, a director, or a member, or occupies a similar position or performs a similar function;
(ii) Directly or indirectly has the right to vote 5% or more of a class of voting securities, or has the power to sell or direct the sale of 5% or more of a class of voting securities, of a licensee or license applicant; or
(iii) In the case of a partnership, a limited partnership, a limited liability partnership, a limited liability company, or any other business entity:
1. Has the right to receive on liquidation or dissolution of a licensee or license applicant 5% or more of the capital of the licensee or license applicant; or
2. Has contributed 5% or more of the capital of a licensee or license applicant.
(d) “Exempt entity” means an entity that is exempt from all requirements of licensing as provided under § 12–103(b) and (c) of this subtitle.
(e) “License” means a license issued in any form by the Commissioner under this subtitle to provide check cashing services, including as provided for through NMLS.
(f) “Licensee” means a person licensed under this subtitle to provide check cashing services.
(g) “Mobile unit” means a motor vehicle or other movable means from which check cashing services are provided.
(h) (1) “Payment instrument” means a check or a draft ordering a person to pay money.
(2) “Payment instrument” includes a money order.
(i) “Provide check cashing services” means to accept or cash, for compensation, a payment instrument regardless of the date of the payment instrument.
(j) “Unique identifier” means a number or another identifier assigned by NMLS.