Section 12-405 - License required.
§ 12-405. License required.
A person may not engage in the business of money transmission if that person, or the person with whom that person engages in the business of money transmission, is located in the State unless that person:
(1) Is licensed by the Commissioner;
(2) Is an authorized delegate of a licensee under whose name the business of money transmission occurs; or
(3) Is a person exempted from licensing under this subtitle.
[An. Code 1957, art. 11, §§ 209, 211; 1980, ch. 33, § 2; ch. 541; 1996, ch. 326, § 2; 1997, ch. 23; 2002, ch. 539.]