Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 755 - CHECK-CASHER RULES
Section 441-755-0110 - Licensing Exemptions
Universal Citation: OR Admin Rules 441-755-0110
Current through Register Vol. 63, No. 9, September 1, 2024
(1) A person engaging in the bona fide retail sale of goods or services, cashing checks only from time to time, and not purporting to be a check-cashing business, is exempted from licensing, regulatory fees and record keeping requirements.
(a) A person purports to be a
check-cashing business if the person:
(A)
Advertises its check-cashing service through radio, television, print media, or
the Internet; or
(B) Places signs
on the outside or facing outside of its retail location offering its
check-cashing service to the public.
(b) A person cashes checks only from time to
time when the number of checks cashed in a calendar year does not exceed three
percent of the number of retail transactions at that retail location during the
previous calendar year.
(2) A money transmitter licensed in Oregon that is conducting check-cashing activity is exempt from licensing and regulatory fees, but must keep records and provide annual reports. The exemption from licensing and regulatory fees extends to any location of the licensed money transmitter where:
(a) The
location is listed in filings with the director;
(b) Revenue and expenses of that location are
incorporated into the license money transmitter's annual financial statements;
and
(c) The licensed money
transmitter owns and operates, through its employees, that location.
Stat. Auth.: ORS 697.550
Stats. Implemented: ORS 697.502
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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