§480F-1 - Definitions.
[§480F-1] Definitions. As used in this chapter, unless the context requires otherwise:
"Check" means any check, draft, money order, or other instrument for the transmission or payment of money. "Check" does not include a traveler's check or foreign denomination or foreign drawn payment instrument.
"Check casher" means a person or entity that engages in the business of cashing checks for a fee.
"Deferred deposit" means a transaction in which a check casher refrains from depositing a personal check written by a customer until a date after the transaction date, pursuant to a written agreement.
"Fee" includes any payment of cash or other consideration paid or given by a customer to a check casher in exchange for the cashing of a check, including an exchange of value for the purchase of catalog items, which is in excess of regular retail value, or for coupons, which may be redeemed for goods or services. [L 1999, c 146, pt of §1; am L 2001, c 20, §1]