§ 19-14.4-1 - Exemptions from licensing.
SECTION 19-14.4-1
§ 19-14.4-1 Exemptions from licensing.– No license to cash checks shall be required of any:
(1) Regulated institution, bank or credit union organizedunder the laws of the United States, or subject to written notice with adesignated Rhode Island agent for service of process in the form prescribed bythe director or the director's designee, of any other state within the UnitedStates if the laws of the other state in which such bank or credit union isorganized authorizes under conditions not substantially more restrictive thanthose imposed by the laws of this state, as determined by the director or thedirector's designee, a financial institution or credit union to engage in thebusiness of cashing checks in the other state; no bank or credit union dulyorganized under the laws of another state within the United States may receivedeposits, pay checks or lend money from any location within this state unlesssuch bank or credit union has received approval from the director or thedirector's designee for the establishment of an interstate branch officepursuant to chapter 7 of title 19 of the general laws.
(2) Natural person employee who is employed by a licenseewhen acting on the licensee's behalf; or
(3) Persons engaged in the business of cashing checks wherethat business is incidental to the person's retail sale of goods or servicesand the person charges not more than fifty cents ($.50) per check cashed.