Md. Code Regs. 09.03.14.04

Current through Register Vol. 51, No. 25, December 13, 2024

Section 09.03.14.04 - Relationship to Federal Law

A. If State money transmission jurisdiction is conditioned on a federal law, any inconsistencies between a provision of the Maryland Money Transmission Act and the federal law governing money transmission shall be governed by the applicable federal law to the extent of the inconsistency.

B. If any inconsistencies exist between the Maryland Money Transmission Act and a federal law that governs pursuant to this regulation, the Commissioner may provide interpretive guidance that:

(1) Identifies the inconsistency; and

(2) Identifies the appropriate means of compliance with federal law.

Md. Code Regs. 09.03.14.04

Regulation .04 adopted effective 50:24 Md. R. 1041, eff. 12/11/2023