(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 is licensed under this chapter.
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Terms Used In Tennessee Code 45-7-110

  • Authorized delegate: means a person that a licensee designates to engage in money transmission on behalf of the licensee. See Tennessee Code 45-7-103
  • Contract: A legal written agreement that becomes binding when signed.
  • Licensee: means a person licensed under this chapter. See Tennessee Code 45-7-103
  • Person: means any individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation, or other corporate entity identified by the commissioner. See Tennessee Code 45-7-103
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(b) Subsection (a) does not apply to:

(1) 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; or
(2) A person that is exempt pursuant to § 45-7-104 and does not engage in money transmission outside the scope of such exemption.
(c) A license issued under § 45-7-115 is not transferable or assignable.
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