Section 9-562 - [Effective 1/1/2025] [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 is licensed under this act.(b) Subsection (a) shall not apply to a person that is: (1) An authorized delegate of a person licensed under this act acting within the scope of authority conferred by a written contract with the licensee; or(2) exempt pursuant to section 2, and amendments thereto, and does not engage in money transmission outside the scope of such exemption.(c) A license issued pursuant to section 13, and amendments thereto, shall not be transferable or assignable.(d) This section shall take effect on and after January 1, 2025.Added by L. 2024, ch. 64,§ 8, eff. 7/1/2024.