Indiana § 28-8-4.1-802 Money transmission on behalf of unlicensed or nonexempt person
prohibited; joint and several liability

Indiana Statutes

§ 28-8-4.1-802 — Money transmission on behalf of unlicensed or nonexempt person prohibited; joint and several liability

Indiana § 28-8-4.1-802

Art. 8FINANCIAL SERVICES

Ch. 4.1Money Transmission Modernization Act

This text of Indiana § 28-8-4.1-802 (Money transmission on behalf of unlicensed or nonexempt person prohibited; joint and several liability) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 28-8-4.1-802 (2026).

Text

(a)A person shall not engage in the business of money transmission on behalf of a person who is not:

(1)licensed under this chapter; or

(2)exempt under section 301 of this chapter.

(b)A person that engages in the business of money transmission on behalf of a person described in subsection (a)(1) or (a)(2):

(1)provides money transmission to the same extent as if the person were a licensee; and

(2)is jointly and severally liable with the unlicensed or nonexempt person.

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(a) A person shall not engage in the
business of money transmission on behalf of a person who is not:
(1) licensed under this chapter; or
(2) exempt under section 301 of this chapter.
(b) A person that engages in the business of money transmission on
behalf of a person described in subsection (a)(1) or (a)(2):
(1) provides money transmission to the same extent as if the
person were a licensee; and
(2) is jointly and severally liable with the unlicensed or
nonexempt person.