§ 53‑277. Exemptions.
(a) This Article shall not apply to:
(1) A bank, savings institution, credit union, or farm credit system organized under the laws of the United States or any state; and
(2) Any person or entity principally engaged in the bona fide retail sale of goods or services, who either as an incident to or independently of a retail sale or service and not holding itself out to be a check‑cashing service, from time to time cashes checks, drafts, or money orders for a fee or other consideration, where not more than two dollars ($2.00) is charged for the service.
(b) A person licensed under Article 16A of this Chapter (Money Transmitters Act) is exempt from G.S. 53‑276, 53‑278, 53‑279, and 53‑284, but is deemed a licensee for purposes of the remaining provisions of this Article. This exemption does not apply to an authorized agent of a person licensed under Article 16A of this Chapter. (1997‑391, s. 1; 2001‑443, s. 4.)