l9n/ Mississippi

2008 Regular Session

Senate Bill 2925

Sale of Checks Law; rename law and revise net worth/surety bond requirements for licensees.

Did not become law. It stopped in the House of Representatives's Banking and Financial Services Committee on March 18, 2008. The 2008 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AMEND SECTION 75-15-1, MISSISSIPPI CODE OF 1972, TO CHANGE THE NAME OF THE CHAPTER FROM THE "SALE OF CHECKS LAW" TO THE "MONEY TRANSMISSION SERVICES ACT"; TO AMEND SECTIONS 75-15-3, 75-15-13 AND 75-15-17, MISSISSIPPI CODE OF 1972, TO CHANGE REFERENCES TO "COMPTROLLER" TO THE WORD "COMMISSIONER"; TO AMEND SECTION 75-15-7, MISSISSIPPI CODE OF 1972, TO EXEMPT FROM THE CHAPTER THE NATIONWIDE MORTGAGE LICENSING SYSTEM FOR MORTGAGE BROKERS, MORTGAGE LENDERS AND MORTGAGE LOAN ORIGINATORS; TO AMEND SECTION 75-15-11, MISSISSIPPI CODE OF 1972, TO REVISE THE NET WORTH AND SURETY BOND REQUIREMENTS FOR LICENSEES; TO AMEND SECTION 75-15-19, MISSISSIPPI CODE OF 1972, TO REQUIRE CERTAIN LICENSEES TO SUBMIT REPORTS OF OUTSTANDING CHECKS ON A MONTHLY BASIS AND TO ALLOW THE COMMISSIONER TO CONDUCT A JOINT EXAMINATION WITH DEPARTMENTS OR AGENCIES OF ANOTHER STATE OR THE FEDERAL GOVERNMENT; TO AMEND SECTION 75-15-25, MISSISSIPPI CODE OF 1972, TO REVISE THE LIMITATION ON OUTSTANDING CHECKS OF LICENSEES; TO AMEND SECTION 75-15-29, MISSISSIPPI CODE OF 1972, TO DELETE THE MAXIMUM AMOUNT IN WHICH THE COMMISSIONER MAY INCREASE THE REQUIRED SURETY BOND; TO AMEND SECTION 75-15-9, MISSISSIPPI CODE OF 1972, IN CONFORMITY; TO CREATE A NEW SECTION TO REQUIRE CERTAIN LICENSEES TO POSSESS PERMISSIBLE INVESTMENTS HAVING AN AGGREGATE MARKET VALUE OF A CERTAIN AMOUNT IN THE EVENT OF BANKRUPTCY; AND FOR RELATED PURPOSES.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

Its course

February 4 to March 18, 2008, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action8 actions on 7 days

In the SenateFeb 4 to Feb 2622 days

Business and Financial InstitutionsFeb 4 to Feb 1410 days

In the House of RepresentativesFeb 26 to Mar 18 · stopped21 days

Banking and Financial ServicesFeb 29 to Mar 18 · stopped18 days

Amendments

Each amendment offered, and what became of it.

  • Senate floor amendmentAdopted

    Adopted Feb 26

Text

Each version as the Legislature printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislature published it is below.

In the Senate Feb 4 – Feb 26

  1. Feb 4Referred to the Senate committee on Business and Financial Institutions
  2. Feb 14Reported from committee in the Senate: title sufficient, do pass
  3. Feb 25Tabled in the Senate, subject to being called up again
  4. Feb 26Amended in the Senate
  5. Passed the Senate as amended

In the House of Representatives Feb 28 – Mar 18

  1. Feb 28Sent to the House
  2. Feb 29Referred to the House committee on Banking and Financial Services
  3. Mar 18Died in committee in the House
All 8 actions, as published
  1. Feb 4Referred To Business and Financial InstitutionsSenate
  2. Feb 14Title Suff Do PassSenate
  3. Feb 25Tabled Subject To CallSenate
  4. Feb 26AmendedSenate
  5. Feb 26Passed As AmendedSenate
  6. Feb 28Transmitted To HouseSenate
  7. Feb 29Referred To Banking and Financial ServicesHouse of Representatives
  8. Mar 18Died In CommitteeHouse of Representatives