Maine Revised Statutes, Title 32, § 6132: Definitions, 1997

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1997, c. 155, Pt. A, §2 (NEW).] 1. Administrator. "Administrator" means the Superintendent of Consumer Credit Protection. [PL 1997, c. 155, Pt. A, §2 (NEW); PL 2007, c. 273, Pt. B, §6 (REV); PL 2007, c. 695, Pt. A, §47 (AFF).] 2. Applicant. "Applicant" means a person filing an application for a license under this subchapter. [PL 1997, c. 155, Pt. A, §2 (NEW).] 3. Capital adequacy. "Capital adequacy" means that an applicant is financially sound and has liquid assets useable in the business of at least $10,000, computed according to generally accepted accounting principles, for the full term of the registration. [PL 1997, c. 155, Pt. A, §2 (NEW).] 4. Check. "Check" means any check, draft, money order or other instrument for the transmission or payment of money. "Check" does not include a travelers check. [PL 1997, c. 155, Pt. A, §2 (NEW).] 5. Check cashing business. "Check cashing business" means any person who engages in the business of cashing checks for a fee. "Check cashing business" does not include any of the following: A. A supervised financial organization; [PL 1997, c. 155, Pt. A, §2 (NEW).] B. A supervised lender; [PL 1997, c. 155, Pt. A, §2 (NEW).] C. A licensee under the Maine Money Transmission Modernization Act; or [PL 2023, c. 662, §5 (AMD).] D. A person who is primarily engaged in the business of selling tangible personal property or services at retail and does not derive more than 5% of its income from check cashing. [PL 1997, c. 155, Pt. A, §2 (NEW).] [PL 2023, c. 662, §5 (AMD).] 6. Foreign currency exchange business. "Foreign currency exchange business" means a person who engages in the business of exchanging foreign currency for a fee. "Foreign currency exchange business" does not include any of the following: A. A supervised financial organization; [PL 1997, c. 155, Pt. A, §2 (NEW).] B. A licensee under the Maine Money Transmission Modernization Act; or [PL 2023, c. 662, §6 (AMD).] C. A person who is primarily engaged in the business of selling tangible personal property or services at retail and does not derive more than 5% of that person's income from foreign currency exchange. [PL 1997, c. 155, Pt. A, §2 (NEW).] [PL 2023, c. 662, §6 (AMD).] 7. Identification. "Identification" means, and is limited to, an unexpired and otherwise valid drivers license; a state identification card issued by any state of the United States or its territories or the District of Columbia showing a photograph and signature; a United States government resident alien identification card; a United States passport; or a United States military identification card. [PL 1997, c. 155, Pt. A, §2 (NEW).] 8. Person. "Person" means an individual, partnership, association, joint-stock association, limited liability company, trust or corporation. [PL 1997, c. 155, Pt. A, §2 (NEW).] 9. Registrant. "Registrant" means a person registered under this subchapter. [PL 1997, c. 155, Pt. A, §2 (NEW).]