Money transmitter license required.

(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:

     (a) Licensed as a money transmitter under this chapter; or

     (b) An authorized delegate of a person licensed as a money transmitter under this chapter.

     (2) A money transmitter license is not transferable or assignable.

[2003 c 287 § 5.]