A person shall not engage in the business of money transmission on behalf of a person not licensed under sections 361.900 to 361.1035 or not exempt under sections 361.909 and 361.912. A person that engages in such activity provides money transmission to the same extent as if the person were a licensee and shall be jointly and severally liable with the unlicensed or nonexempt person.
Mo. Rev. Stat. § 361.978
Unauthorized activities
Known as the Money Transmission Modernization Act
The act spans §§ 361–361 (125 sections).
Effective: 28 Aug 2024; (L. 2024 S.B. 1359)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.