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CS/HB 273: Money Services Businesses

GENERAL BILL by Insurance and Banking Subcommittee ; Aloupis ; (CO-INTRODUCERS) Benjamin ; Buchanan ; McFarland

Money Services Businesses; Revises provisions related to violations of money services business activities & penalties for such violations; revises provisions related to certain prohibited activities without license; revises requirements for money transmitter or payment instrument seller to conduct business; revises requirements for written contract between money transmitter or payment instrument seller & authorized vendor; provides requirements for money transmitter that receives virtual currency; excludes virtual currency in calculation of permissible investments; revises recordkeeping requirements for money transmitter or payment instrument seller; revises financial liability requirements for money transmitter or payment instrument seller.

Effective Date: 1/1/2023
Last Action: 5/12/2022 - Chapter No. 2022-113
Bill Text: PDF



Bill History

Date Chamber Action
10/12/2021 House • Filed
10/22/2021 House • Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
11/23/2021 House • Added to Insurance & Banking Subcommittee agenda
12/1/2021 House • Favorable with CS by Insurance & Banking Subcommittee
12/2/2021 House • Reported out of Insurance & Banking Subcommittee
• Laid on Table under Rule 7.18(a)
• CS Filed
12/3/2021 House • Original reference removed: State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Commerce Committee
1/11/2022 House • 1st Reading (Original Filed Version)
• 1st Reading (Committee Substitute 1)
1/14/2022 House • Added to Commerce Committee agenda
1/19/2022 House • Favorable by Commerce Committee
• Reported out of Commerce Committee
• Bill released to House Calendar
• Added to Second Reading Calendar
3/1/2022 House • Bill added to Special Order Calendar (3/4/2022)
3/4/2022 House • Read 2nd time
• Amendment 941613 adopted
• Placed on 3rd reading
• Added to Third Reading Calendar
3/7/2022 House • Read 3rd time
• CS passed as amended; YEAS 112, NAYS 0
3/7/2022 Senate • In Messages
• Referred to Appropriations -SJ 720
• Withdrawn from Appropriations -SJ 719
• Placed on Calendar, on 2nd reading
• Received -SJ 720
• Substituted for CS/SB 486 -SJ 719
• Read 2nd time -SJ 719
• Read 3rd time -SJ 719
• CS passed; YEAS 35 NAYS 1 -SJ 719
3/8/2022 House • In Messages
• Ordered enrolled
5/10/2022 • Signed by Officers and presented to Governor
5/12/2022 • Approved by Governor
• Chapter No. 2022-113