23 CAR § 302-201. License required

For purposes of this subpart: (1) A person engages in the business of money transmission if the person: (A) Conducts money transmission: (i) For persons located in this state; or (ii) From a physical location in this state for persons located outside this state; and (B) Receives compensation or expects to receive compensation, directly or indirectly, for conducting the transmissions; and (2) A person engaging in the business of money transmission shall be presumed to solicit, advertise, or hold itself out as a person that engages in the business of money transmission in this state if the person fails to provide a disclaimer listing either the states in which it is licensed or the states in which it is not licensed.