Maryland § 12-402
Full text of Maryland Maryland Code § 12-402, with citation guidance and answers to common questions.
§ 12-402.
(a) The provisions of this subtitle do not apply to:
(1) Any banking institution;
(2) Any other-state bank;
(3) Any national banking association or savings bank;
(4) Any credit union;
(5) Any savings and loan association;
(6) The United States government or any of its departments, agencies, or instrumentalities;
(7) An accredited institution of higher education, as defined under § 10-101 of the Education Article;
(8) The sale of payment instruments by any person on behalf of any other person who is exempted by this subsection, if the payment instruments were received from the other person under a trust receipt for the specific purpose of sale;
(9) The provision of electronic transfer of government benefits for any federal, state, or county governmental agency as defined in Federal Reserve Board Regulation E, by a contractor for and on behalf of the United States or any of its departments, agencies, or instrumentalities, or any state or any political subdivision of any state; or
(10) Any authorized delegate of a licensee, acting within the scope of authority conferred by a written contract as described in § 12-413 of this subtitle.
(b) Any person who is exempted by this section nevertheless may apply for and, if qualified, receive a license.
Frequently Asked Questions About Maryland § 12-402
What does Maryland Code § 12-402 cover?
Section 12-402 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 12-402?
A common citation format is "Maryland Code § 12-402" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 12-402 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.