(a) A person may not engage in currency exchange or advertise, solicit, or hold itself out as providing currency exchange for which the person receives revenues equal or greater than five percent of total revenues unless the person
(1) is licensed under this subchapter;
(2) is licensed for money transmission under subchapter 2 of this chapter or approved to engage in money transmission under section 517;
(3) is licensed for check cashing under subchapter 3 of this chapter;
(4) is an authorized delegate of a person licensed under subchapter 2 of this chapter; or
(5) is an authorized delegate of a person approved to engage in money transmission under section 517.
(b) A license under this subchapter under this chapter is not transferable or assignable.