Section 06.55.101. License required.

   (a) A person may not engage in the business of money transmission or advertise, solicit, or hold the person out as providing money transmission unless the person
        (1) holds a money transmission license; or
        (2) is an authorized delegate of a person who holds a money transmission license.
   (b) A money transmission license is not transferable or assignable.

Authorities

6.55.105; 6.55.202; 6.55.301; 6.55.607; 6.55.990

Notes

Recent Bills that will modify this

HB 271 MONEY SERVICES BUSINESS: REQS; LICENSING;
SB 152 MONEY SERVICES BUSINESS: REQS; LICENSING;

References

AS 6.55.105 .105">Sec. 06.55.105. Issuance of license.
AS 6.55.202 .202">Sec. 06.55.202. Application for license.
AS 6.55.301 .301">Sec. 06.55.301. Relationship between licensee and authorized delegate.
AS 6.55.607 .607">Sec. 06.55.607. Unlicensed persons.
AS 6.55.990 .990">Sec. 06.55.990. Definitions.

History

(Sec. 1 ch 55 SLA 2007)