{"data":{"id":"us-nd/n.d.-cent.-code-51-17.1-01","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 51-17.1-01","heading":"Currency exchange - Penalty","body":"1.A nonbanking institution may engage in the business of a currency exchange if:\na.The institution does not contract with another person to manage the currency exchange business; however, this does not prohibit the business from employing individuals to operate a currency exchange business;\nb.The institution displays in a prominent manner on the premises of the business the fees charged to exchange currency;\nc.The maximum fees charged to exchange currency are limited to any direct cost of verification fees and:\n(1)The greater of five percent of the face amount or five dollars, for cashing a draft, personal check, payroll check, traveler's check, or money order; and\n(2)The greater of three percent of the face amount or five dollars, for cashing a state public assistance check or a federal social security check;\nd.The institution does not accept money or currency for deposit or act as bailee or agent of persons to hold money or currency in escrow for others for any purpose; and\ne.The institution does not exchange currency on the premises of a charitable gaming site.\n2.For purposes of this section, \"currency exchange\" means cashing a check, draft, money order, or traveler's check or issuing a money order or traveler's check as an agent for another, for a fee. The term does not include providing these services incidental to a primary business if there is not a charge for cashing a check or draft.\n3.This section does not authorize a business to make any type of loan, including a deferred presentment service transaction, payday loan, cash advance, payday cash advance, or motor vehicle title loan.\n4.A nonbanking institution may not accept a postdated check in a currency exchange transaction.\n5.A person violating this section is guilty of a class B misdemeanor.","path":["Title 51 Sales And Exchanges","Chapter 51-17.1 Currency Exchange Businesses"],"source_url":"https://ndlegis.gov/cencode/t51c17-1.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"80861f55c1ee266940e7b483096f779b57b9841559311bfe34a9d6b16a186789","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-51-16.1-05","next":"us-nd/n.d.-cent.-code-51-18-01"},"notice":"GroundRules: Original legal text. Not legal advice."}