Iowa Code § 533C.301
License required
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2025
As of January 1, 2012
1. A person shall not engage in currency exchange or advertise, solicit, or hold itself out as providing currency exchange for which the person receives revenues equal to or greater than five percent of total revenues unless the person:
1. A person shall not engage in the business of money transmission or advertise, solicit, or hold itself out as providing money transmission unless they are licensed under this article.
a. Is licensed under this article.
b. Is licensed for money transmission under article 2.
c. Is an authorized delegate of a person licensed under article 2.
2. This section shall not apply to the following:
a. A person that is an authorized delegate of a person licensed under this chapter acting within the scope of authority conferred by a written contract with the licensee.
b. A person that is exempt pursuant to section 533C.103 and does not engage in money transmission outside the scope of such exemption.
3. A license under this article is not transferable or assignable.
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.