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Tennessee Code Title 45. Banks and Financial Institutions § 45-7-110

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

(a) A person shall 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 chapter.

(b) Subsection (a) does not apply to:

(1) A person that is an authorized delegate of a person licensed under this chapter acting within the scope of authority conferred by a written contract with the licensee; or

(2) A person that is exempt pursuant to § 45-7-104 and does not engage in money transmission outside the scope of such exemption.

(c) A license issued under § 45-7-115 is not transferable or assignable.

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Cite this article: FindLaw.com - Tennessee Code Title 45. Banks and Financial Institutions § 45-7-110 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-45-banks-and-financial-institutions/tn-code-sect-45-7-110/

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