Iowa Code 533C.502 – Unauthorized activities
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Terms Used In Iowa Code 533C.502
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
533C.502 Unauthorized activities.
A person shall not engage in the business of money transmission on behalf of a person
not licensed under this chapter. A person who engages in such activity provides money transmission to the same extent as if the person were a licensee, and shall be jointly and severally liable with the unlicensed or nonexempt person.
2003 Acts, ch 96, §17, 42; 2023 Acts, ch 83, §20
Section stricken and rewritten
A person shall not engage in the business of money transmission on behalf of a person
not licensed under this chapter. A person who engages in such activity provides money transmission to the same extent as if the person were a licensee, and shall be jointly and severally liable with the unlicensed or nonexempt person.
2003 Acts, ch 96, §17, 42; 2023 Acts, ch 83, §20
Section stricken and rewritten