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HomeFinancial CodeDiv. 1Ch. 1§ 188 Money Transmitter Definition

§ 188 Money Transmitter Definition

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 188 Money Transmitter Definition

Key Takeaways

  • •A money transmitter is someone who is allowed to send money for others.
  • •They must have special permission from the government to do this job.
  • •This rule started in 2014.

Example

Sending money to family in another country.

If you use a service like Western Union to send money, that company is a money transmitter. They have to follow special rules to do this.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 188 Money Transmitter Definition

“Money transmitter” means a person authorized pursuant to Chapter 3 (commencing with Section 2030) of Division 1.2 to engage in the business of money transmission. (Added by Stats. 2013, Ch. 334, Sec. 16. (SB 537) Effective January 1, 2014.)

Last verified: January 23, 2026

Key Terms

Money transmittermoney transmission

Related Statutes

  • § 2003 Money Transmitter Affiliate Rules
  • § 1000 Bank And Trust Formation
  • § 100000 Debt Collection Licensing Act
  • § 100000.5 Debt Collector Temporary Licensing
  • § 100000.7 Local Debt Collector Licensing Ban

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 188.
View Official Source