Section 6087 - License requiredA 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. [2023, c. 662, §2 (NEW).]
1.Exemption. This section does not apply to:A. A person that is 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 [2023, c. 662, §2 (NEW).]B. A person that is exempt pursuant to section 6074 and does not engage in money transmission outside the scope of such exemption. [2023, c. 662, §2 (NEW).] [2023, c. 662, §2 (NEW).]
2.Transfer or assignment. A license issued under section 6091 is not transferable or assignable. [2023, c. 662, §2 (NEW).]
Added by 2024, c. 662,§ 2, eff. 8/9/2024.