Maryland Statutes
Subtitle 4 - Maryland Money Transmission Act
Section 12-402 - Scope of Subtitle

(a)    The provisions of this subtitle do not apply to:
        (1)    Any banking institution;
        (2)    Any other-state bank;
        (3)    Any national banking association or savings bank;
        (4)    Any credit union;
        (5)    Any savings and loan association;
        (6)    The United States government or any of its departments, agencies, or instrumentalities;
        (7)    An accredited institution of higher education, as defined under § 10-101 of the Education Article;
        (8)    The sale of payment instruments by any person on behalf of any other person who is exempted by this subsection, if the payment instruments were received from the other person under a trust receipt for the specific purpose of sale;
        (9)    The provision of electronic transfer of government benefits for any federal, state, or county governmental agency as defined in Federal Reserve Board Regulation E, by a contractor for and on behalf of the United States or any of its departments, agencies, or instrumentalities, or any state or any political subdivision of any state; or
        (10)    Any authorized delegate of a licensee, acting within the scope of authority conferred by a written contract as described in § 12-413 of this subtitle.
    (b)    Any person who is exempted by this section nevertheless may apply for and, if qualified, receive a license.

Structure Maryland Statutes

Maryland Statutes

Financial Institutions

Title 12 - Miscellaneous Institutions and Activities

Subtitle 4 - Maryland Money Transmission Act

Section 12-401 - Definitions

Section 12-402 - Scope of Subtitle

Section 12-403 - Powers of Commissioner

Section 12-404 - Credit of Revenue From Licensing and Payment of Fines and Penalties Into Various Funds

Section 12-405 - License Required

Section 12-406 - Qualifications of Applicant for License

Section 12-407 - Applications for Licenses

Section 12-408 - Fingerprinting

Section 12-408.1 - Privacy or Confidentiality of Information and Privilege Under Federal or State Law

Section 12-409 - Investigation of Application; Issuance or Denial of License

Section 12-410 - Contents and Scope of Licenses; Additional Licenses

Section 12-411 - Term and Renewal of Licenses

Section 12-412 - Required Bond or Permissible Investments

Section 12-413 - Authorized Delegate

Section 12-413.1 - Training to Recognize Financial Abuse and Exploitation of Elder Adult

Section 12-414 - Fraud, False Statements, or Misrepresentation Prohibited; Management of Funds; Reporting Loss or Theft of Funds

Section 12-415 - Change of Location or Control; Penalties

Section 12-416 - Reports to Commissioner

Section 12-417 - Compliance With Federal and State Laws

Section 12-418 - Required Permissible Investments; Segregation of Money by Authorized Delegate

Section 12-419 - Issuance of Duplicate Payment Instruments

Section 12-420 - Redemption of Unused Payment Instruments

Section 12-421 - Determination of Compliance With Subtitle

Section 12-422 - Voluntary Surrender of License

Section 12-423 - Investigatory Powers of Commissioner

Section 12-424 - Examinations

Section 12-425 - Required Records

Section 12-426 - Violations

Section 12-427 - Persons Subject to Enforcement

Section 12-428 - Hearings

Section 12-429 - Enforcement of Subtitle

Section 12-430 - Penalties

Section 12-430.1 - Reporting and Enforcement of Actions Against Money Transmitters

Section 12-431 - Short Title