2009 North Carolina Code
Chapter 53 - Banks.
§ 53-277. Exemptions.
§ 53‑277. Exemptions.
(a) This Article shall not apply to:
(1) A bank, savings institution, credit union, or farm credit system organized under the laws of the United States or any state; and
(2) Any person or entity principally engaged in the bona fide retail sale of goods or services, who either as an incident to or independently of a retail sale or service and not holding itself out to be a check‑cashing service, from time to time cashes checks, drafts, or money orders for a fee or other consideration, where not more than two dollars ($2.00) is charged for the service.
(b) A person licensed under Article 16A of this Chapter (Money Transmitters Act) is exempt from G.S. 53‑276, 53‑278, 53‑279, and 53‑284, but is deemed a licensee for purposes of the remaining provisions of this Article. This exemption does not apply to an authorized agent of a person licensed under Article 16A of this Chapter. (1997‑391, s. 1; 2001‑443, s. 4.)
Disclaimer: These codes may not be the most recent version. North Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
