Alabama § 8-7A-5 - License Required.
Full text of Alabama Code of Alabama § 8-7A-5 — License Required., with citation guidance and answers to common questions.
§ 8-7A-5. 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 the person meets one of the following requirements:
(1) Is licensed under this chapter.
(2) Is an authorized delegate of a person licensed under this chapter.
(b) A license under this chapter is not transferable or assignable.
(c) Persons licensed and in good standing pursuant to Chapter 7 of this title, on August 1, 2017, shall retain the license issued pursuant to that chapter without interruption until their next licensing renewal date.
Frequently Asked Questions About Alabama § 8-7A-5
What does Code of Alabama § 8-7A-5 cover?
Section 8-7A-5 ("License Required.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 8-7A-5?
A common citation format is "Code of Alabama § 8-7A-5" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 8-7A-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.