(a) A person is prohibited from engaging in the business of money transmission, or advertising, soliciting, or representing that the person provides money transmission, unless the person is licensed under this chapter.
(b) Paragraph (a) does not apply to:
(1) 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; or
(2) a person that is exempt under section 53B.29 and does not engage in money transmission outside the scope of the exemption.
(c) A license issued under section 53B.40 is not transferable or assignable.