1. (A) A person may not engage in currency exchange or advertise, solicit, or hold himself out as providing currency exchange for which the person receives revenues equal or greater than five percent of total revenues unless the person is:

   1. (1) licensed pursuant to this article;
   2. (2) licensed for money transmission pursuant to Article 2; or
   3. (3) an authorized delegate of a person licensed pursuant to Article 2.
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", in (2), substituted "2; or" for "2, or approved to engage in money transmission pursuant to Section 35-11-210;", deleted (4), which provided that an authorized delegate of a person approved to engage in money transmission pursuant to Section 35-11-210, and made a nonsubstantive change.