Code of Maryland Regulations
Title 09 - MARYLAND DEPARTMENT OF LABOR
Subtitle 03 - COMMISSIONER OF FINANCIAL REGULATION
Chapter 09.03.14 - Money Transmitters
Section 09.03.14.17 - Disclosures for Payroll Processing Services
Universal Citation: MD Code Reg 09.03.14.17
Current through Register Vol. 51, No. 19, September 20, 2024
A. A licensee that provides payroll processing services shall:
(1) Issue reports to clients detailing client
payroll obligations in advance of the payroll funds being deducted from an
account; and
(2) Make available
worker paystubs or an equivalent statement to workers.
B. If the licensee's client designates the intended recipients to the licensee and is responsible for providing the disclosures required by §A(2) of this regulation, §A of this regulation does not apply to a licensee providing payroll processing services.
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