Section 36a-597 - (Formerly Sec. 36-532). License required. Penalty(a) No person shall engage in the business of money transmission in this state, or advertise or solicit such services, without a main office license issued by the commissioner as provided in sections 36a-595 to 36a-612, inclusive, except as an authorized delegate of a person that has been issued a license by the commissioner and in accordance with section 36a-607. Any activity subject to licensure pursuant to sections 36a-595 to 36a-612, inclusive, shall be conducted from an office located in a state, as defined in section 36a-2. On and after October 1, 2024, any person who owns, operates, solicits, markets, advertises or facilitates virtual currency kiosks in this state shall be deemed to be engaged in the business of money transmission in this state and shall be subject to licensure pursuant to sections 36a-595 to 36a-612, inclusive. A person engaged in the business of money transmission is acting in this state under this section if such person: (1) Has a place of business located in this state, (2) receives money or monetary value in this state or from a person located in this state, (3) transmits money or monetary value from a location in this state or to a person located in this state, (4) issues stored value or payment instruments that are sold in this state, (5) sells stored value or payment instruments in this state, or (6) owns, operates, solicits, markets, advertises or facilitates virtual currency kiosks physically located in this state.(b) Any person who knowingly engages in the business of money transmission in this state, without obtaining a license, as provided in sections 36a-595 to 36a-612, inclusive, shall be guilty of a class D felony. Each transaction in violation of the provisions of this subsection shall constitute a separate offense.Conn. Gen. Stat. § 36a-597
(P.A. 81-264, S. 3; P.A. 01-56 , S. 4 ; P.A. 03-61 , S. 3 ; P.A. 04-61 , S. 1 ; P.A. 09-208 , S. 14 ; P.A. 13-253 , S. 3 ; P.A. 16-65 , S. 7 ; P.A. 18-173 , S. 50 .)
Amended by P.A. 24-0146,S. 2 of the Connecticut Acts of the 2024 Regular Session, eff. 10/1/2024.Amended by P.A. 18-0173, S. 50 of the Connecticut Acts of the 2018 Regular Session, eff. 10/1/2018.Amended by P.A. 16-0065, S. 7 of the Connecticut Acts of the 2016 Regular Session, eff. 7/1/2016.