Effective October 1, 2026, Maryland's law changes the definition of 'money transmitter' to exclude certain agent-of-payor payroll processing arrangements.
What changed
The definition now excludes specific payroll processing arrangements from licensing requirements.
Compliance perspective
Companies involved in payroll processing should reassess their licensing needs according to the updated definition.
Key date
Effective date: October 1, 2026.
Need help keeping up with these changes?
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