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2019 Massachusetts General Laws
Part I - Administration of the Government
Title XXII - Corporations
Chapter 169a - Licensing of Check Cashers
Section 2 - License; Rules and Regulations
Universal Citation: MA Gen L ch 169a § 2 (2019)
Section 2. No person or entity shall engage in cashing checks, drafts or money orders for a consideration in excess of one dollar per item without first obtaining a license from the commissioner. Nothing in this chapter shall be construed to apply to a bank, as defined in section one of chapter one hundred and sixty-seven, a national banking association, a federally chartered credit union, a federal savings and loan association or a federal savings bank. The commissioner shall establish rules and regulations, which may include an adequate capitalization requirement, for each place of business or mobile unit of a licensee to aid in the administration and enforcement of this chapter.
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