§ 28-8-4.1-1203 — Persons licensed to engage in money transmission before January 1, 2024; amendment of authorized delegate contracts; authorized delegate's duty to comply

Indiana § 28-8-4.1-1203

• Jurisdiction: Indiana
• Art. 8: FINANCIAL SERVICES
• Ch. 4.1: Money Transmission Modernization Act

Text

(a) A person licensed in Indiana to
engage in the business of money transmission under IC 28-8-4 (before
its repeal on January 1, 2024) is not subject to the provisions of this
chapter, to the extent that the provisions of this chapter:
(1) conflict with IC 28-8-4 (before its repeal on January 1, 2024);
or
(2) establish new requirements not imposed under IC 28-8-4
(before its repeal on January 1, 2024);
until after December 31, 2023.
(b) Notwithstanding subsection (a), a person licensed in Indiana to
engage in the business of money transmission under IC 28-8-4 (before
its repeal on January 1, 2024) shall be required to amend its authorized
delegated contracts so that such contracts comply with this chapter only
with respect to contracts entered into or amended after December 31,
2023.
(c) Nothing in this section shall be construed as limiting an
authorized delegate's obligations to operate in full compliance with this
chapter, as required by section 801(c) of this chapter, after December
31, 2023.

Legislative History

As added by P.L.198-2023, SEC.4. Amended by P.L.1-2025, SEC.221.