Money transmission on behalf of unlicensed or nonexempt person prohibited; joint and several liability

Ind. Code § 28-8-4.1-802
in effect
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Sec. 802. (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. As added by P.L.198-2023, SEC.4.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/28Fetched: 10/17/2026

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