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Money Transmitter Bonds And Getting Your Mississippi Business License/Registration
The set license period for Mississippi Money Transmitters is April 1st to March 31st and is not pro-rated for application made during the license period.
The minimum requirements for the license are as follows;
- Payment of investigation fee and initial license fee including applicable fee for additional locations
- Submit Financial Statement showing net worth of at least $25,000 plus $15,000 for each additional location; max required net worth is $250,000
- Furnish a Surety Bond in the bond amount of $25,000 or in an amount equal to outstanding money transmissions in Mississippi, whichever is greater, but in no event shall the bond exceed $500,000. In lieu of a corporate Surety Bond, the state will accept proof of a government bond or Certificate od Deposit equal to required amount
- Register with the Mississippi Secretary of State
- Provide list of locations and sample of instruments sold
- MSB FinCEN registration
- Submit certificate of good standing from state originally incorporated
- If a corporation, provide copy of Articles of Incorporation (with amendments). If LLC, provide Articles of Organization and Operating Agreement
- Secure and submit fingerprint cards as directed by the Department of Banking and Consumer Finance
Additional Mississippi Money Transmitter Bond Resources & Links
Mississippi Department of Banking and Consumer Finance Money Transmitters
Department of Banking and Consumer Finance
P.O. Box 12129
Jackson, MS 39236-2129