6-201. Authority to engage in banking business;
exception
A. No person, except a national banking association with its home office in this
state or bank authorized to do business in this state pursuant to section 6-217 or
section 6-322, subsection A, shall engage in the banking business in this state without a
banking permit.
B. For the purposes of this section, a person engaged in the business of receiving
money on deposit subject to payment by check or any other form of order or request or on
presentation of a certificate of deposit or any other evidence of debt is engaged in the
banking business.
C. Nothing in this section shall prohibit a savings and loan association qualified
to do business in this state from performing any acts authorized by chapter 3 of this
title, a credit union qualified to do business in this state from performing any act
authorized by chapter 4 of this title, a licensee or authorized delegate under chapter 12
of this title from performing any act regulated by that chapter or a trust company
qualified to do business in this state that maintains savings accounts or time deposits
pursuant to section 6-882 from performing any act authorized by chapter 8 of this title.
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