(a) A person shall not engage in the business of money transmission in this state, or advertise, solicit, or hold itself out as providing money transmission in this state, unless the person is licensed or exempt from licensure under this division or is an agent of a person licensed or exempt from licensure under this division.
(b) A license under this division is not transferable or assignable.
(Amended by Stats. 2012, Ch. 356, Sec. 6. (SB 979) Effective January 1, 2013.)