Prohibition if unlicensed

A person shall not engage in the business of money transmission on behalf of a person not licensed under this chapter or not exempt pursuant to § 51A-17-53 . A person that engages in such activity, provides money transmission to the same extent as if the person were a licensee, shall be jointly and severally liable with the unlicensed or nonexempt person. Source: SL 2024, ch 196 , § 40.