Section 12-105.1 - Annual registration(a) A person may provide check cashing services without obtaining a license under this subtitle by registering each year with the Commissioner under this section if the person: (1) Charges a fee of up to 1.5% or $1, whichever is greater, of the face amount of the payment instrument per payment instrument;(2) Provides check cashing services that are incidental to the retail sale of goods or services by the person that is providing the check cashing services;(3) Is registered as a check casher money service business with the U.S. Department of Treasury;(4) Conducts check cashing service transactions within the interior of the business location and not through the use of a mobile unit or an exterior drive-up or walk-up window;(5) Has conspicuously posted a notice with the following information, in 48 point type or larger, at each business location at which the person provides check cashing services: (i) The fees charged for check cashing services; and(ii) How to contact the Office of Financial Regulation with comments or complaints; and(6) Provides a receipt to each check cashing services customer that includes: (i) The date of the transaction;(ii) The face value of the check cashed;(iii) The fee charged; and(iv) The net dollar amount paid to the customer.(b) To register as a check cashing service, a person shall:(1) Obtain and maintain a valid unique identifier issued by NMLS when an account is created with NMLS; and(2) Provide information required by the Commissioner through NMLS, including: (i) The person's name and address and, if the person is not an individual:1. The names and addresses of each owner who owns more than 5% of the person; and2. The officers and director or principal of the person;(ii) The addresses at which check cashing services will be provided; and(iii) Any other information determined to be necessary by the Commissioner.(c) A person submitting an initial registration or a registration renewal under this section shall apply through NMLS:(1) For the initial registration, on or after November 1, 2020; and(2) For registration renewal, each year thereafter.(d) A person submitting an initial registration or a registration renewal under this section shall pay to NMLS any fees that NMLS imposes in connection with the issuance of the registration or the renewal of the registration.(e) Sections 12-106 through 12-120 of this subtitle do not apply to a person who registers under this section.Amended by 2023 Md. Laws, Ch. 29, Sec. 1, eff. 7/1/2023.Amended by 2023 Md. Laws, Ch. 28, Sec. 1, eff. 7/1/2023.Added by 2020 Md. Laws, Ch. 444, Sec. 1, eff. 10/1/2020.Added by 2020 Md. Laws, Ch. 443, Sec. 1, eff. 10/1/2020.