Section 28-8-4.1-1203 - Persons licensed to engage in money transmission before January 1, 2024; amendment of authorized delegate contracts; authorized delegate's duty to comply(a) A person licensed in Indiana to engage in the business of money transmission under IC 24-8-4 (before its repeal on January 1, 2024) is not subject to the provisions of this chapter, to the extent that the provisions of this chapter: (1) conflict with IC 24-8-4 (before its repeal on January 1, 2024); or(2) establish new requirements not imposed under IC 24-8-4 (before its repeal on January 1, 2024); until after December 31, 2023.
(b) Notwithstanding subsection (a), a person licensed in Indiana to engage in the business of money transmission under IC 24-8-4 (before its repeal on January 1, 2024) shall be required to amend its authorized delegated contracts so that such contracts comply with this chapter only with respect to contracts entered into or amended after December 31, 2023.(c) Nothing in this section shall be construed as limiting an authorized delegate's obligations to operate in full compliance with this chapter, as required by section 801(c) of this chapter, after December 31, 2023.Added by P.L. 198-2023,SEC. 4, eff. 1/1/2024.