Iowa Code 533C.301 – License required
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Terms Used In Iowa Code 533C.301
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
533C.301 License required.
1. A person shall not engage in the business of money transmission or advertise, solicit,
or hold itself out as providing money transmission unless they are licensed under this article.
2. This section shall not apply to the following:
a. A person that is an authorized delegate of a person licensed under this chapter acting within the scope of authority conferred by a written contract with the licensee.
b. A person that is exempt pursuant to § 533C.103 and does not engage in money transmission outside the scope of such exemption.
3. A license under this article is not transferable or assignable.
2003 Acts, ch 96, §10, 42; 2004 Acts, ch 1086, §89; 2023 Acts, ch 83, §10
Section amended
1. A person shall not engage in the business of money transmission or advertise, solicit,
or hold itself out as providing money transmission unless they are licensed under this article.
2. This section shall not apply to the following:
a. A person that is an authorized delegate of a person licensed under this chapter acting within the scope of authority conferred by a written contract with the licensee.
b. A person that is exempt pursuant to § 533C.103 and does not engage in money transmission outside the scope of such exemption.
3. A license under this article is not transferable or assignable.
2003 Acts, ch 96, §10, 42; 2004 Acts, ch 1086, §89; 2023 Acts, ch 83, §10
Section amended