Section 28-8-4.1-501 - Engaging in the business of money transmission; license required; exceptions; license not transferrable or assignable(a) A person may not:(1) engage in the business of money transmission; or(2) advertise, solicit, or hold itself out as providing money transmission; unless the person is licensed under this chapter.
(b) Subsection (a) does not apply to:(1) a person that is:(A) an authorized delegate of a person licensed under this chapter; and(B) acting within the scope of authority conferred by a written contract with the licensee; or(2) a person that is exempt under section 301 of this chapter and does not engage in money transmission outside the scope of the exemption.(c) A license issued under section 505 of this chapter is not transferable or assignable.Added by P.L. 198-2023,SEC. 4, eff. 1/1/2024.