Sec. 36a-597. (Formerly Sec. 36-532). License required. Penalty. - Connecticut Statutes

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Statutes > Connecticut > Title36a > Chap668 > Sec36a-597

      Sec. 36a-597. (Formerly Sec. 36-532). License required. Penalty. (a) No person shall engage in the business of issuing Connecticut payment instruments, or engage in the business of money transmission, without first obtaining a license from the commissioner as provided in section 36a-600. No person shall engage in such business or in the business of selling Connecticut payment instruments as an agent or subagent, except as an agent or subagent of a licensee or an entity or a person exempt under section 36a-609 and in accordance with section 36a-607.

      (b) Any person who knowingly engages in the business of issuing Connecticut payment instruments, or who knowingly engages in the business of money transmission, without obtaining a license, as provided in section 36a-600, shall be guilty of a class D felony. Each transaction in violation of the provisions of this subsection shall constitute a separate offense.

      (P.A. 81-264, S. 3; P.A. 01-56, S. 4; P.A. 03-61, S. 3; P.A. 04-61, S. 1.)

      History: Sec. 36-532 transferred to Sec. 36a-597 in 1995; P.A. 01-56 changed "Connecticut instruments" to "Connecticut payment instruments" and reworded language re money transmission; P.A. 03-61 substituted "or an entity or a person exempt under section 36a-609 and in accordance with" for "as provided in"; P.A. 04-61 designated existing provisions as Subsec. (a) and added new Subsec. (b) re criminal penalty for knowingly engaging in business of issuing Connecticut payment instruments or money transmission without a license.

State Codes and Statutes

Statutes > Connecticut > Title36a > Chap668 > Sec36a-597

      Sec. 36a-597. (Formerly Sec. 36-532). License required. Penalty. (a) No person shall engage in the business of issuing Connecticut payment instruments, or engage in the business of money transmission, without first obtaining a license from the commissioner as provided in section 36a-600. No person shall engage in such business or in the business of selling Connecticut payment instruments as an agent or subagent, except as an agent or subagent of a licensee or an entity or a person exempt under section 36a-609 and in accordance with section 36a-607.

      (b) Any person who knowingly engages in the business of issuing Connecticut payment instruments, or who knowingly engages in the business of money transmission, without obtaining a license, as provided in section 36a-600, shall be guilty of a class D felony. Each transaction in violation of the provisions of this subsection shall constitute a separate offense.

      (P.A. 81-264, S. 3; P.A. 01-56, S. 4; P.A. 03-61, S. 3; P.A. 04-61, S. 1.)

      History: Sec. 36-532 transferred to Sec. 36a-597 in 1995; P.A. 01-56 changed "Connecticut instruments" to "Connecticut payment instruments" and reworded language re money transmission; P.A. 03-61 substituted "or an entity or a person exempt under section 36a-609 and in accordance with" for "as provided in"; P.A. 04-61 designated existing provisions as Subsec. (a) and added new Subsec. (b) re criminal penalty for knowingly engaging in business of issuing Connecticut payment instruments or money transmission without a license.

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State Codes and Statutes

Statutes > Connecticut > Title36a > Chap668 > Sec36a-597

      Sec. 36a-597. (Formerly Sec. 36-532). License required. Penalty. (a) No person shall engage in the business of issuing Connecticut payment instruments, or engage in the business of money transmission, without first obtaining a license from the commissioner as provided in section 36a-600. No person shall engage in such business or in the business of selling Connecticut payment instruments as an agent or subagent, except as an agent or subagent of a licensee or an entity or a person exempt under section 36a-609 and in accordance with section 36a-607.

      (b) Any person who knowingly engages in the business of issuing Connecticut payment instruments, or who knowingly engages in the business of money transmission, without obtaining a license, as provided in section 36a-600, shall be guilty of a class D felony. Each transaction in violation of the provisions of this subsection shall constitute a separate offense.

      (P.A. 81-264, S. 3; P.A. 01-56, S. 4; P.A. 03-61, S. 3; P.A. 04-61, S. 1.)

      History: Sec. 36-532 transferred to Sec. 36a-597 in 1995; P.A. 01-56 changed "Connecticut instruments" to "Connecticut payment instruments" and reworded language re money transmission; P.A. 03-61 substituted "or an entity or a person exempt under section 36a-609 and in accordance with" for "as provided in"; P.A. 04-61 designated existing provisions as Subsec. (a) and added new Subsec. (b) re criminal penalty for knowingly engaging in business of issuing Connecticut payment instruments or money transmission without a license.