Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 4. MONEY TRANSMISSION

7-1-698. Continuing effectiveness of existing licenses.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Any person previously approved by the department as either a money transmitter licensee or a seller of payment instruments licensee who holds such license in an active status as of July 1, 2023, shall be deemed to be a money transmitter licensee as of that date and authorized to engage in all activities included within the definition of money transmission as of that date. Any license application pending as of July 1, 2023, for a seller of payment instruments license shall be deemed to be an application for a money transmitter license as of that date.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 7-1-698, enacted by Ga. L. 2014, p. 251, § 1/HB 982; Ga. L. 2015, p. 5, § 7/HB 90; Ga. L. 2023, p. 651, § 33/HB 55, effective July 1, 2023.

Amendments

The 2023 amendment, effective July 1, 2023, rewrote this Code section, which read: “Every license in force and effect under the former provisions of this article, relating to sale of checks and money orders, on July 1, 2014, shall remain in full force and effect on July 1, 2014, and all such existing licensees shall be required to renew their licenses pursuant to Code Section 7-1-685.”

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t7-t8-(v5)-2024-pdf.pdf, Volume V5, 2024 edition, page 438; merge action: carried; file SHA-256 5c69f28428d8.

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