Nebraska Statutes 8-2725. License required; license not transferable or assignable
(1) Except as otherwise provided in section 8-2724, a person shall not engage in money transmission without a license issued pursuant to the Nebraska Money Transmitters Act.
Terms Used In Nebraska Statutes 8-2725
- Licensee: means a person licensed pursuant to the Nebraska Money Transmitters Act. See Nebraska Statutes 8-2713
- Money transmission: means the business of the sale or issuance of payment instruments or stored value or of receiving money or monetary value for transmission to a location within or outside the United States by any and all means, including wire, facsimile, or electronic transfer. See Nebraska Statutes 8-2716
- Person: means any individual, partnership, limited liability company, association, joint-stock association, trust, or corporation. See Nebraska Statutes 8-2721
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
(2) A person is engaged in money transmission if the person provides money transmission services to any resident of this state even if the person providing money transmission services has no physical presence in this state or if the resident is not physically located in this state at the time when the resident enters into money transmission or otherwise receives money transmission services.
(3) If a licensee has a physical presence in this state, the licensee may conduct its business at one or more locations, directly or indirectly owned, or through one or more authorized delegates, or both, pursuant to the single license granted to the licensee.
(4) A license issued pursuant to the act is not transferable or assignable.