KRS 286.11-005: License required for persons engaging in money transmission --

Prohibition against transfer or assignment of license.

(1) On or after October 1, 2006, no person shall engage in the business of money

transmission in this state without a license, or without being an agent of a licensee,

as provided in this subtitle.

(2) A person is deemed to be engaged in the business of money transmission under this

subtitle if the person advertises those services, provides those services with or

without compensation , solicits to provide those services, or holds itself out as

providing those services to or from this state, even if the person has no physical

presence in this state.

(3) A licensee may conduct its business in this state at one (1) or more locations,

directly or indirectly owned, or through one (1) or more agents, or both, pursuant to

the single license issued to the licensee.

(4) A license issued under this subtitle shall not be transferred or assigned.