A. No person shall engage in the business of selling money orders or engage in the business of money transmission, whether or not the person has a location in the Commonwealth, unless the person obtains from the Commission a license issued pursuant to this chapter.
Terms Used In Virginia Code 6.2-1901
- Authorized delegate: means a person designated or appointed by a licensee to sell money orders or provide money transmission services on behalf of the licensee. See Virginia Code 3.2-6003
- Commission: means the State Corporation Commission. See Virginia Code 6.2-100
- Licensee: means a person licensed under this chapter to engage in the business of selling money orders or the business of money transmission, or both. See Virginia Code 3.2-6003
- Money transmission: means receiving money or monetary value for transmission by wire, facsimile, electronic means or other means or selling or issuing stored value. See Virginia Code 3.2-6003
- Person: means any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or other legal or commercial entity. See Virginia Code 6.2-100
B. No license under this chapter shall be required of any authorized delegate of a licensee.