Section 8-7A-5 - License required(a) A person may not engage in the business of money transmission or advertise, solicit, or hold itself out as providing money transmission unless the person meets one of the following requirements: (1) Is licensed under this chapter.(2) Is an authorized delegate of a person licensed under this chapter.(b) A license under this chapter is not transferable or assignable.(c) Persons licensed and in good standing pursuant to Chapter 7 of this title, on August 1, 2017, shall retain the license issued pursuant to that chapter without interruption until their next licensing renewal date.Ala. Code § 8-7A-5 (1975)
Added by Act 2017-389,§ 2, eff. 8/1/2017.