Sale of Checks and Money Transmitters Act
The subsection that was repealed is LSA-R.S. 6:1054
(G) (4) which exempts persons which were previously identified as a person of
control in an approved Sale of Check or Money Transmitter application from
having to give notice and receive approval of the Commissioner in subsequent
changes of controls. Effective August 1, 2016 all Sale of Check/Money
Transmitter licensee changes of control will require prior approval by the
Commissioner. Click here for a copy of the Act.