361.1035. Transition period.
138 words·~1 min read·
/mo/chapter-361/361-1035A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
361.1035. Transition period. — 1. A person licensed in this state to engage in the business of money transmission shall not be subject to the provisions of sections 361.900 to 361.1035 to the extent that they conflict with current law or establish new requirements not imposed under current law, until such time as the licensee renews the licensee's current license.
2. Notwithstanding subsection 1 of this section, a licensee shall be required only to amend its authorized delegate contracts for contracts entered into or amended after the effective date or the completion of any transition period contemplated under subsection 1 of this section. Nothing herein shall be construed as limiting an authorized delegate's obligations to operate in full compliance with sections 361.900 to 361.1035 as required by subsection 3 of section 361.975 .
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(L. 2024 S.B. 1359)