51A-17-59. License required to engage in money transmission--Exceptions.(1)A person may not engage in the business of money transmission or advertise, solicit, or hold itself out as providing money transmission unless the person is licensed under this chapter.(2)This section does not apply to:(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; or(b)A person that is exempt pursuant to §51A-17-53 and does not engage in money transmission outside the scope of such exemption.(3)A license issued under §§51A-17-64 to 51A-17-69, inclusive, is not transferable or assignable. Source: SL 2024, ch 196, §8.
South Dakota Legal Code