A person may not provide money transmissions on behalf of a person not licensed or not exempt from licensure under this division. A person that engages in that activity provides money transmissions services to the same extent as if the person was a licensee, and shall be jointly and severally liable with the unlicensed or nonexempt person.
Cal. Fin. Code § 2062
Agents
Known as the Money Transmission Act
The act spans §§ 2000–2176 (63 sections).
Amended by Stats. 2012, Ch. 356, Sec. 17
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.