(1) On or after the effective date of this act, no person except a person exempt pursuant to the provisions of section 26-2904, Idaho Code, shall engage in the business of money transmission without a license as provided in accordance with the provisions of this chapter.
(2)  A licensee may conduct its business in this state at one (1) or more locations, directly or indirectly owned, or through one (1) or more authorized representatives, or both, pursuant to the single license granted to the licensee.
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Terms Used In Idaho Code 26-2903

  • Director: means the director of the department of finance. See Idaho Code 26-2902
  • Licensee: means a person licensed under the provisions of this chapter. See Idaho Code 26-2902
  • Money transmission: means the sale or issuance of payment instruments or engaging in the business of receiving money for transmission or the business of transmitting money within the United States or to locations outside the United States by any and all means including, but not limited to, payment instrument, wire, facsimile or electronic transfer. See Idaho Code 26-2902
  • Person: means any individual, partnership, association, joint stock association, limited liability company, trust or corporation. See Idaho Code 26-2902
  • State: means the state of Idaho. See Idaho Code 26-2902
(3)  The director may permit multiple corporations, which are directly or indirectly commonly controlled, to engage in activities under the provisions of this chapter, pursuant to a single bond or other security device in satisfaction of the requirements of section 26-2908, Idaho Code.