(A) A person may not engage in the business of money transmission or advertise, solicit, or hold himself out as providing money transmission unless the person is:

(1) licensed under this chapter or approved to engage in money transmission pursuant to § 35-11-210;

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Terms Used In South Carolina Code 35-11-200

  • Authorized delegate: means a person a licensee designates to provide money services on behalf of the licensee. See South Carolina Code 35-11-105
  • Money: means a medium of exchange that is authorized or adopted by the United States or a foreign government. See South Carolina Code 35-11-105
  • Money transmission: means selling or issuing payment instruments, stored value, or receiving money or monetary value for transmission. See South Carolina Code 35-11-105
  • Person: means an individual, corporation, business trust, estate, trust, partnership, limited-liability company, association, joint venture, government, governmental subdivision, agency or instrumentality, public corporation, or another legal or commercial entity. See South Carolina Code 35-11-105

(2) an authorized delegate of a person licensed pursuant to this article; or

(3) an authorized delegate of a person approved to engage in money transmission pursuant to § 35-11-210.

(B) A license issued pursuant to this chapter is not transferable or assignable.