Alabama § 8-7A-5 License Required

Alabama Statutes

§ 8-7A-5 — License Required

Alabama § 8-7A-5

Title 8Commercial Law and Consumer Protection

Ch. 7AAlabama Monetary Transmission Act

This text of Alabama § 8-7A-5 (License Required) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 8-7A-5 (2026).

Text

(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 meets one of the following requirements:

(1)Is licensed under this chapter.

(2)Is an authorized delegate of a person licensed under this chapter.

(b)A license under this chapter is not transferable or assignable.

(c)Persons licensed and in good standing pursuant to Chapter 7 of this title, on August 1, 2017, shall retain the license issued pursuant to that chapter without interruption until their next licensing renewal date.

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(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 meets one of the following requirements:
(1) Is licensed under this chapter.
(2) Is an authorized delegate of a person licensed under this chapter.
(b) A license under this chapter is not transferable or assignable.
(c) Persons licensed and in good standing pursuant to Chapter 7 of this title, on August 1, 2017, shall retain the license issued pursuant to that chapter without interruption until their next licensing renewal date.