No person may operate a currency exchange company - except a bank, trust company, savings bank, savings and loan association, credit union, or industrial loan or thrift company - that engages in the business of cashing checks, drafts, money orders, or travelers' checks for a fee in the city without first obtaining a Currency Exchange License from the Commissioner as provided by Minnesota Statutes Chapter 53A, and without first obtaining a conditional use permit for the permitted zoning district in accordance with Sections 44-512(14) and 44-637(1) of this Code.
Code Requirements
Guidance relating to Currency Exchange is contained in the Maplewood City Code, Chapter 14, Article XII, Division 4. All license holders are required to be familiar with the provisions of this chapter and with applicable Minnesota Statutes and federal regulations.
Application Review
The City of Maplewood must hold a public hearing for the issuance of a new or renewing Currency Exchange license applied for with the Minnesota Department of Commerce. Upon notification from the Minnesota Department of Commerce that an application has been filed, applicants must complete an application for review and fee before such hearing will be conducted.
Limitation on Number
The City of Maplewood allows no more than one currency exchange license to be issued at any time. Priority is given to qualified applicants that are renewing an existing license.