1. (a) A person may not:

   1. (1) engage in the business of money transmission; or

   2. (2) advertise, solicit, or hold itself out as providing money transmission;

      unless the person is licensed under this chapter.

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

   1. (1) a person that is:

      1. (A) an authorized delegate of a person licensed under this chapter; and
      2. (B) acting within the scope of authority conferred by a written contract with the licensee; or
   2. (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.
3. (c) A license issued under section 505 of this chapter is not transferable or assignable.

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