1. (A) A person may not engage in the business of money transmission or advertise, solicit, or hold himself out as providing money transmission unless the person is:

   1. (1) licensed under this article;
   2. (2) an authorized delegate of a person licensed pursuant to this article; or
   3. (3) exempted under Section 35-11-110.
2. (B) A license issued pursuant to this chapter is not transferable or assignable.

HISTORY: 2016 Act No. 266 (H.4554), Section 1, eff May 25, 2018; 2024 Act No. 218 (S.1031), Section 1, eff July 2, 2024.

Effect of Amendment

2024 Act No. 218, Section 1, in (A), in (1), substituted "article" for "chapter or approved to engage in money transmission pursuant to Section 35-11-210", and rewrote (3).