Indiana Code 28-8-4.1-802. Money transmission on behalf of unlicensed or nonexempt person prohibited; joint and several liability
Current as of: 2023 | Check for updates
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Sec. 802. (a) A person shall not engage in the business of money transmission on behalf of a person who is not:
(1) licensed under this chapter; or
(2) exempt under section 301 of this chapter.
(b) A person that engages in the business of money transmission on behalf of a person described in subsection (a)(1) or (a)(2):
(1) provides money transmission to the same extent as if the person were a licensee; and
(2) is jointly and severally liable with the unlicensed or nonexempt person.
As added by P.L.198-2023, SEC.4.