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The subsection that was repealed is LSA-R.S. 6:1054 (G) (4) which exempts persons which were previously identified as a person of control in an approved Sale of Check or Money Transmitter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.