{"data":{"id":"us-nc/n.c.-gen.-stat.-53-208.44","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 53-208.44","heading":"Exemptions.","body":"(a)\tThis Article shall not apply to any of the following:\n(1)\tThe United States or any department, agency, or instrumentality or by a contractor thereof.\n(2)\tThe United States Postal Service.\n(3)\tThe State or any political subdivisions or by a contractor thereof.\n(4)\tBanks, credit unions, savings and loan associations, savings banks, or mutual banks organized under the laws of any state or the United States.\n(5)\tA person registered as a securities broker-dealer under federal or state securities laws to the extent of its operation as a broker-dealer.\n(6)\tThe provision of electronic transfer of government benefits for any federal, state, or county governmental agency as defined in Regulation E, 12 C.F.R. § 1005 et seq., by a contractor for and on behalf of the United States or any department, agency, or instrumentality thereof, or any state or any political subdivisions thereof.\n(7)\tA person that is engaged exclusively in any of the following:\na.\tDelivering wages or salaries on behalf of employers to employees.\nb.\tFacilitating the payment of payroll taxes to State and federal agencies.\nc.\tMaking payments relating to employee benefit plans.\nd.\tMaking distribution of other authorized deductions from employees' wages or salaries.\ne.\tTransmitting other funds on behalf of an employer in connection with transactions related to employees.\n(8)\tA person appointed by a payee to collect and process payments as the bona fide agent of the payee, provided the person can demonstrate to the Commissioner all of the following:\na.\tThere exists a written agreement between the payee and agent directing the agent to collect and process payments on the payee's behalf.\nb.\tThe payee holds the agent out to the public as accepting payments on the payee's behalf.\nc.\tPayment is treated as received by the payee upon receipt by the agent.\nThis exemption extends to those otherwise engaged in money transmission as set forth in G.S. 53-208.42(13)b., including those transactions conducted in whole or in part in virtual currency.\n(b)\tAny person who seeks to engage in the business of money transmission in this State subject to exemption under (a)(7) or (a)(8) of this section shall submit a written request for verification of exemption to the Commissioner. Such request shall be in a form acceptable to the Commissioner and shall include a copy of any written agreement and related documentation that is the basis for the specified exemption.\n(c)\tLicensees may authorize delegates to engage in money transmission on their behalf subject to this Article subject to an express written agreement, which shall provide the following:\n(1)\tThe licensee appoints the person as its delegate with authority to engage in money transmission on behalf of the licensee in this State.\n(2)\tNeither a licensee nor an authorized delegate may authorize sub-delegates without the written consent of the Commissioner.\n(3)\tAuthorized delegates, in their capacity as agents of the licensee, are subject to the supervision and regulation by the Commissioner notwithstanding exemption from licensure.\n(4)\tThe licensee shall issue a certificate of authority for each branch office at which it conducts licensed activities in this State through an authorized delegate, which shall be posted in public view and read as follows: \"Money transmission on behalf of (licensee) is conducted at this location pursuant to the North Carolina Money Transmitters Act, N.C.G.S. § 53-208.41 et seq.\"\nLicensees conducting money transmission subject to this Article are required to maintain full charge, control, and supervision of any authorized delegate and are responsible for ensuring any activity undertaken by an authorized delegate on behalf of the licensee is in compliance with this Article.\n(d)\tThe Commissioner may, by rule or by order, exempt from all or part of this Article any person, transaction, or class of persons or transactions if the Commissioner finds such action to be in the public interest and that the regulation of such persons or transactions is not necessary for the purposes of this Article. (2016-81, s. 1; 2017-102, ss. 14.1(b), 46.)","path":["Chapter 53. Regulation of Financial Services.","Article 16B. Money Transmitters Act."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_53/GS_53-208.44.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:12Z","sha256":"251d1826f1a84054b4fdff617f27588ebf8620408f3a218c51724933ab3d8193","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-53-208.43","next":"us-nc/n.c.-gen.-stat.-53-208.45"},"notice":"GroundRules: Original legal text. Not legal advice."}