(a) A person may not engaged in the business of money transmission or advertise, solicit, or hold itself out as providing money transmission unless the person:
(1) is licensed under this subchapter or approved to engage in money transmission under section 517;
(2) is an authorized delegate of a person licensed under this subchapter; or
(3) is an authorized delegate of a person approved to engage in money transmission under Section 517.
(b) A license under this subchapter is not transferable or assignable.