40-22-104. Exemptions; applicability.
(a) This act shall not apply to:
(i) The United States or any department, agency, or instrumentality thereof;
(ii) The United States post office;
(iii) The state or any political subdivisions thereof;
(iv) Banks, bank holding companies, credit unions, building and loan associations, savings and loan associations, savings banks or mutual banks organized under the laws of any state or the United States provided that they do not issue or sell payment instruments through authorized delegates or subdelegates who are not banks, bank holding companies, credit unions, building and loan associations, savings and loan associations, savings banks or mutual banks;
(v) 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 department, agency or instrumentality thereof, or any state or any political subdivisions thereof;
(vi) Buying, selling, issuing, or taking custody of payment instruments or stored value in the form of virtual currency or receiving virtual currency for transmission to a location within or outside the United States by any means;
(vii) Repealed by Laws 2019, ch. 170, § 4.
(b) The Financial Technology Sandbox Act shall apply to this act. [NOTE: This section will be effective 1/1/2020.]
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