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Indiana Code Title 28. Financial Institutions § 28-8-4.1-1203

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 1203. (a) A person licensed in Indiana to engage in the business of money transmission under IC 28-8-4 (before its repeal on January 1, 2024) is not subject to the provisions of this chapter, to the extent that the provisions of this chapter:

(1) conflict with IC 28-8-4 (before its repeal on January 1, 2024);  or

(2) establish new requirements not imposed under IC 28-8-4 (before its repeal on January 1, 2024);

until after December 31, 2023.

(b) Notwithstanding subsection (a), a person licensed in Indiana to engage in the business of money transmission under IC 28-8-4 (before its repeal on January 1, 2024) shall be required to amend its authorized delegated contracts so that such contracts comply with this chapter only with respect to contracts entered into or amended after December 31, 2023.

(c) Nothing in this section shall be construed as limiting an authorized delegate's obligations to operate in full compliance with this chapter, as required by section 801(c) of this chapter, after December 31, 2023.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-8-4.1-1203 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-8-4-1-1203/

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