FL S1126

Creates exemption from check casher licensure for persons authorized by the Office of Financial Regulation to cash payment instruments between $2,000 and $7,500 per person per day that are incidental to retail sales, subject to conditions.

Requires authorized persons to submit daily data on checks exceeding $2,000 to support detection and prosecution of financial crime and workers' compensation violations.

Requires authorized persons to provide records to the Office of Financial Regulation upon request during criminal investigations and establish monthly and yearly limits on cashed instrument values.

Prohibits authorized persons from cashing corporate instruments and limits compensation for cashing activities to no more than 5 percent of total gross income from retail sales during the preceding 60 days.

Authorizes the Financial Services Commission to adopt rules necessary to administer the new exemption.