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Code · Kansas · Chapter 9 — Banks And Banking; Trust Companies

9-580. Liability when conducting money transmission on behalf of an unlicensed person.

91 words·~1 min read·/ks/chapter-9/9-580

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9-580. Liability when conducting money transmission on behalf of an unlicensed person.
(a)No person shall engage in the business of money transmission on behalf of a person who is not licensed or exempt from licensing under this act. If a person engages in such activity, such person shall be deemed to have provided money transmission to the same extent that such person were a licensee and shall be jointly and severally liable with the unlicensed or nonexempt person.
(b)This section shall take effect on and after January 1, 2025.
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