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Indiana Code Title 28. Financial Institutions § 28-8-4.1-501

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

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.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-8-4.1-501 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-8-4-1-501/

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