Section 06.55.201. License required.

   (a) A person may not engage in currency exchange or advertise, solicit, or hold the person out as providing currency exchange for which the person receives revenues equal or greater than five percent of total revenues unless the person
        (1) holds a currency exchange license;
        (2) holds a money transmission license; or
        (3) is an authorized delegate of a person who holds a money transmission license.
   (b) A currency exchange license is not transferable or assignable.

Authorities

6.55.202; 6.55.203; 6.55.204; 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

3 AAC 13.030
AS 6.55.202 .202">Sec. 06.55.202. Application for license.
AS 6.55.203 .203">Sec. 06.55.203. Issuance of license.
AS 6.55.204 .204">Sec. 06.55.204. Renewal of license.
AS 6.55.990 .990">Sec. 06.55.990. Definitions.

History

(Sec. 1 ch 55 SLA 2007)