Unless the context otherwise requires:
1. "Commissioner" means the State Bank Commissioner;
2. "Check" means any check, draft, money order, stored value instrument or card, or other written instrument for the transmission or payment of money or credit, except that it does not mean money or currency of any nation, or instruments commonly known as travelers checks which require that the same be signed by the person to whom such instruments are issued at the time of issue and at the time such instruments are cashed or exchanged for value by such person;
3. "Fiscal year" means the period from July 1 through the next succeeding June 30;
4. "Issuing" means the act of drawing any instrument of exchange by a person who engages in the business of drawing such instruments as a service or for a fee or other consideration;
5. "Licensee" means any person licensed under this act;
6. "Money order" means a bill of exchange issued at the request and for the use or benefit of a person other than the issuer and representing an unconditional order or obligation in writing of the issuer to pay a sum certain in money on demand to order or to bearer;
7. "Net worth" means excess of assets over liabilities as determined by accepted accounting practices; and
8. "Person" means any individual, partnership, joint-stock association, trust, unincorporated association or corporation.
Added by Laws 1961, p. 426, § 2. Amended by Laws 2013, c. 62, § 9, emerg. eff. April 18, 2013.