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Can you summarize 32 MERS Chapter 80?
PROFESSIONS AND OCCUPATIONS > MONEY TRANSMITTERS AND CHECK CASHERS
Short Summary
The provided legal document content pertains to the regulation and oversight of money transmitters and check cashers in the state of Maine. It covers various aspects such as licensing requirements, authorized delegate contracts, conduct of authorized delegates, criminal penalties for violations, revocation or suspension of authorized delegates, enforcement of provisions, on-site examinations, confidentiality of financial information, license issuance, change of control notification, extraordinary reporting requirements, license renewal and reporting obligations, security devices, license application requirements, license qualifications, exemptions, and the administrative framework for money transmitters. The documents apply to individuals or entities engaged in money transmission activities, as well as authorized delegates appointed by licensees. Exemptions include certain governmental entities, supervised financial organizations not engaged in certain activities, and electronic transfer of government benefits. Penalties for non-compliance or violation include civil penalties determined by the administrator and potential criminal charges. Overall, these documents establish the regulatory framework and requirements for money transmitters and check cashers in Maine.
Whom does it apply to?
Individuals or entities engaged in money transmission activities, as well as authorized delegates appointed by licensees
What does it govern?
Regulation and oversight of money transmitters and check cashers
What are exemptions?
Certain governmental entities, supervised financial organizations not engaged in certain activities, and electronic transfer of government benefits
What are the Penalties?
Civil penalties determined by the administrator and potential criminal charges
Jurisdiction
Maine