A. A person shall not engage in the business of money transmission or advertise, solicit or hold itself out as providing money transmission unless the person:

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(1)     is licensed pursuant to Article 2 N.M. Stat. Ann. § 58-32-201 to 58-32-206 of the Uniform Money Services Act; or

(2)     is an authorized delegate of a person licensed pursuant to Article 2 of the Uniform Money Services Act.

B. A license pursuant to Article 2 of the Uniform Money Services Act is not transferable or assignable.