(a) A person may not engage in the business of money transmission or advertise, solicit, or hold oneself out as providing money transmission unless the person is licensed under this Act. (b) Subsection (a) does not apply to: (1) A person who is an authorized delegate of a person licensed under this Act acting within the scope of authority conferred by a written contract with the licensee; or (2) A person who is exempt pursuant to Section 3-1 and does not engage in money transmission outside the scope of such exemption. (c) A license issued under Section 5-5 is not transferable or assignable. person licensed under this Act acting within the scope of authority conferred by a written contract with the licensee; or and does not engage in money transmission outside the scope of such exemption.
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