Code of Massachusetts Regulations
209 CMR - DIVISION OF BANKS AND LOAN AGENCIES
Title 209 CMR 45.00 - The Licensing and Regulation of Money Services Businesses
Section 45.10 - Office Locations

Universal Citation: 209 MA Code of Regs 209.45

Current through Register 1537, December 20, 2024

(1) Office Locations. A licensee shall obtain a separate license in order to conduct business at another location; however, 209 CMR 45.10(1) shall not apply to check sellers.

(2) Security. A licensee shall maintain adequate security for the protection of its customers' funds and for the safety of its customers and employees.

(3) Relocations and Closings. A licensee shall obtain the Commissioner's prior written approval of any change in or closing of a Massachusetts location; however, 209 CMR 45.10(3) shall not apply to check sellers. Written applications to the Commissioner shall be submitted prior to any such change or closing and shall contain such other information as the Commissioner may require.

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