Minnesota § 53A.01 DEFINITIONS

Minnesota Statutes

§ 53A.01 — DEFINITIONS

Minnesota·Part BANKING·Ch. 53A CURRENCY EXCHANGES

Subdivision 1.Currency exchange.
"Currency exchange" means any person, except a bank, trust company, savings bank, savings association, credit union, or industrial loan and thrift company, engaged in the business of cashing checks, drafts, money orders, or travelers' checks for a fee. "Currency exchange" does not include a person who provides these services incidental to the person's primary business if the charge for cashing a check or draft does not exceed $1 or one percent of the value of the check or draft, whichever is greater.

Subd. 2.Commissioner.
"Commissioner" means the commissioner of commerce.

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Subdivision 1.Currency exchange.
"Currency exchange" means any person, except a bank, trust company, savings bank, savings association, credit union, or industrial loan and thrift company, engaged in the business of cashing checks, drafts, money orders, or travelers' checks for a fee. "Currency exchange" does not include a person who provides these services incidental to the person's primary business if the charge for cashing a check or draft does not exceed $1 or one percent of the value of the check or draft, whichever is greater.

Subd. 2.Commissioner.
"Commissioner" means the commissioner of commerce.

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