A. A person may 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 article.

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Terms Used In Arizona Laws 6-1207

  • Authorized delegate: means a person that a licensee designates to engage in money transmission on behalf of the licensee. See Arizona Laws 6-1201
  • Contract: A legal written agreement that becomes binding when signed.
  • Licensee: means a person licensed under this article. See Arizona Laws 6-1201
  • Person: means any individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation or other corporate entity identified by the director. See Arizona Laws 6-1201

B. Subsection A of this section does not apply to either of the following:

1. A person that is an authorized delegate of a person licensed under this article that is acting within the scope of authority conferred by a written contract with the licensee.

2. A person that is exempt pursuant to section 6-1202 and does not engage in money transmission outside the scope of the exemption.

C. A license issued under section 6-1211 is not transferable or assignable.

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