1. A person may 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;

2. Subsection 1 does not apply to: a. 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 b. A person that is exempt pursuant to section 13-09.1-02 and does not engage in money transmission outside the scope of the exemption.

3. A license issued under section 13-09.1-13 is not transferable or assignable.