Utah Code 7-25-201. Licensing required
Current as of: 2024 | Check for updates
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(1) Unless exempt under Section 7-25-202, a person may not engage in the business of money transmission without a license.
Terms Used In Utah Code 7-25-201
- Licensee: means a person licensed under this chapter. See Utah Code 7-25-102
- Money transmission: means the sale or issuance of a payment instrument or engaging in the business of receiving money for transmission or transmitting money within the United States or to locations abroad by any and all means, including payment instrument, wire, facsimile, or electronic transfer. See Utah Code 7-25-102
- Person: means :(27)(a) an individual;(27)(b) a corporation;(27)(c) a limited liability company;(27)(d) a partnership;(27)(e) a trust;(27)(f) an association;(27)(g) a joint venture;(27)(h) a pool;(27)(i) a syndicate;(27)(j) a sole proprietorship;(27)(k) an unincorporated organization; or(27)(l) any form of business entity. See Utah Code 7-1-103
- State: means , unless the context demands otherwise:
(33)(a) a state;(33)(b) the District of Columbia; or(33)(c) the territories of the United States. See Utah Code 7-1-103(2) A licensee may conduct its business in this state at one or more locations, directly or indirectly owned, or through one or more authorized agents, or both, pursuant to the single license granted to the licensee. - State: means , unless the context demands otherwise: