CS/HB 1277: Money Services Businesses
GENERAL BILL by Insurance and Banking Subcommittee ; Davis
Money Services Businesses; Revises frequency & notice requirements for examinations & investigations by OFR of money services business licensees; prohibits money services businesses, authorized vendors, & affiliated parties from knowingly possessing certain paraphernalia used or intended or designed for use in misrepresenting customer's identity; prohibits certain persons from providing customer's personal identification information to licensee; prohibits certain acts by money services businesses, authorized vendors, & affiliated parties; revises conditions for which money services business license may be suspended; requires licensee to maintain its own federally insured depository account & deposit into account any payment instruments cashed; requires licensee to notify OFR & cease to cash payment instruments if licensee ceases to maintain account; prohibits licensee from accepting or cashing payment instrument from person who is not original payee except under certain circumstances; establishes limit on amount of fees that licensees may charge for direct costs of verification; revises requirements for records that licensee must maintain.
• Introduced -HJ 126
• Referred to Insurance and Banking Subcommittee; Rulemaking and Regulation Subcommittee; Government Operations Appropriations Subcommittee; Economic Affairs Committee -HJ 214
• PCS on Committee agenda-- Insurance and Banking Subcommittee, 01/30/12, 2:00 pm, 404 HOB
• CS by Insurance and Banking Subcommittee; YEAS 13 NAYS 0 -HJ 323
• Pending review of CS under Rule 7.19(c)
• CS by Insurance and Banking Subcommittee read 1st time -HJ 315
• Original reference(s) removed: Rulemaking and Regulation Subcommittee; Government Operations Appropriations Subcommittee
• CS referred to Economic Affairs Committee -HJ 452
• Now in Economic Affairs Committee -HJ 452
• On Committee agenda-- Economic Affairs Committee, 02/16/12, 11:30 am, Reed Hall
• Favorable by- Economic Affairs Committee; YEAS 14 NAYS 0 -HJ 684
• Placed on Calendar -HJ 684
• Placed on Special Order Calendar, 02/22/12
• Read 2nd time -HJ 733
• Placed on 3rd reading
• Read 3rd time -HJ 790
• CS passed; YEAS 115 NAYS 0 -HJ 790
• In Messages
• Received -SJ 829
• Referred to Banking and Insurance; Budget Subcommittee on General Government Appropriations; Budget -SJ 829
• Withdrawn from Banking and Insurance; Budget Subcommittee on General Government Appropriations; Budget -SJ 962
• Placed on Calendar, on 2nd reading -SJ 962
• Placed on Special Order Calendar, 03/08/12
• Substituted for CS/CS/SB 1586 -SJ 963
• Read 2nd time -SJ 963
• Read 3rd time -SJ 963
• CS passed; YEAS 40 NAYS 0 -SJ 963
• Ordered enrolled -HJ 1245
• Signed by Officers and presented to Governor
• Approved by Governor
• Chapter No. 2012-85
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