Arkansas Code Title 23, Subtitle 2, Chapter 55, Article 2 - Money Transmission Licenses

• § 23-55-201 - License Required.
  (a) A person may not engage in the business of money transmission or advertise, solicit, or hold itself out as providing money transmission unless...
• § 23-55-202 - Application for License.
  (a) In this section, "material litigation" means litigation that according to generally accepted accounting principles is significant to an applicant's or a licensee's financial...
• § 23-55-203 - [Repealed.]
• § 23-55-204 - Security.
  (a) Except as otherwise provided in subsection (b), a surety bond in the amount of $50,000 plus $10,000 per location in this State where...
• § 23-55-205 - Issuance of License.
  (a) When an application is filed under this article, the commissioner shall investigate the applicant's financial condition and responsibility, financial and business experience, character,...
• § 23-55-206 - Renewal of License.
  (a) A licensee under this article shall pay an annual renewal fee of $750 no later than December 1 for the succeeding calendar year...
• § 23-55-207 - Net Worth.
  A licensee under this article shall maintain a net worth of at least $250,000 determined in accordance with generally accepted accounting principles.

Last modified: November 15, 2016