Sec. 501. (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. As added by P.L.198-2023, SEC.4.