Alaska Statutes Title 06, Chapter 06.55, Article 01 - Money Transmission Licenses

• Sec. 06.55.101 License Required.
  (a) A person may not engage in the business of money transmission or advertise, solicit, or hold the person out as providing money transmission...
• Sec. 06.55.102 Application for License.
  (a) A person applying for a money transmission license shall apply in a form and in a medium prescribed by the department. The application...
• Sec. 06.55.103 Approval to Engage in Money Transmission When Licensed in Another State.
  (a) A person who is licensed to engage in money transmission in at least one other state, with the approval of the department and...
• Sec. 06.55.104 Security.
  (a) Except as otherwise provided in (b) of this section, a surety bond, a letter of credit, or another similar security acceptable to the...
• Sec. 06.55.105 Issuance of License.
  (a) When an application is filed under AS 06.55.102 , the department shall investigate the applicant's financial condition and responsibility, financial and business experience,...
• Sec. 06.55.106 Renewal of License.
  (a) A money transmission licensee shall pay an annual renewal fee not later than 30 days before the anniversary of the issuance of the...
• Sec. 06.55.107 Net Worth.
  A money transmission licensee shall maintain a net worth of at least $25,000 determined under generally accepted accounting principles.

Last modified: November 15, 2016