l9n/ Mississippi

2010 Regular Session

Senate Bill 2652

Sale of Checks Act; rename "MS Money Transmitters Act" and make various amendments.

Became law as Chapter 448, Laws of 2010, signed March 29, 2010, 74 days after it was filed.

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 TRANSMITTERS ACT"; TO AMEND SECTION 75-15-3, MISSISSIPPI CODE OF 1972, TO DEFINE CERTAIN TERMS; TO AMEND SECTION 75-15-5, MISSISSIPPI CODE OF 1972, IN CONFORMITY; TO AMEND SECTION 75-15-7, MISSISSIPPI CODE OF 1972, TO REVISE THE EXEMPTIONS PROVIDED IN THE ACT; TO AMEND SECTION 75-15-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT APPLICANTS FOR LICENSURE SHALL NOT HAVE BEEN CONVICTED OF A FELONY OR CERTAIN MISDEMEANORS; TO AMEND SECTION 75-15-11, MISSISSIPPI CODE OF 1972, TO REVISE THE SURETY BOND REQUIREMENT FOR LICENSEES; TO AMEND SECTIONS 75-15-13, 75-15-15 AND 75-15-17, MISSISSIPPI CODE OF 1972, IN CONFORMITY; TO AMEND SECTION 75-15-19, MISSISSIPPI CODE OF 1972, TO REQUIRE CERTAIN LICENSEES TO SUBMIT REPORTS OF OUTSTANDING MONEY TRANSMISSIONS ON A MONTHLY BASIS AND TO REQUIRE LICENSEES TO MAINTAIN CERTAIN RECORDS; TO AMEND SECTION 75-15-23, MISSISSIPPI CODE OF 1972, IN CONFORMITY; TO AMEND SECTION 75-15-25, MISSISSIPPI CODE OF 1972, TO REVISE THE LIMITATION ON THE TOTAL AMOUNT IN OUTSTANDING MONEY TRANSMISSIONS OR CHECKS OF LICENSEES; TO AMEND SECTION 75-15-27, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT A LICENSE SHALL BE AUTOMATICALLY AND FINALLY REVOKED UPON FAILURE BY LICENSEE TO FILE WHEN DUE CERTAIN INFORMATION REQUIRED BY LAW; TO AMEND SECTION 75-15-29, MISSISSIPPI CODE OF 1972, TO REVISE THE MAXIMUM AMOUNT BY WHICH THE COMMISSIONER MAY INCREASE THE SURETY BOND OR DEPOSIT REQUIRED BY LICENSEES; TO AMEND SECTION 75-15-31, 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 NOT LESS THAN THE AGGREGATE AMOUNT OF OUTSTANDING CHECKS; TO CREATE A NEW SECTION TO REQUIRE EACH LICENSEE TO COMPLY WITH STATE AND FEDERAL MONEY LAUNDERING LAWS; 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

January 14 to March 29, 2010, 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 action14 actions on 12 days

In the SenateJan 14 to Feb 1027 days

Business and Financial InstitutionsJan 14 to Feb 219 days

In the House of RepresentativesFeb 10 to Mar 220 days

Banking and Financial ServicesFeb 16 to Feb 237 days

Back in the SenateMar 2 to Mar 2220 days

With the GovernorMar 22 to Mar 297 days

Amendments

Each amendment offered, and what became of it.

  • House of Representatives committee amendmentAdopted

    Adopted Mar 2

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 Jan 14 – Feb 10

  1. Jan 14Referred to the Senate committee on Business and Financial Institutions
  2. Feb 2Reported from committee in the Senate: title sufficient, do pass as a committee substitute
  3. Feb 10Committee substitute adopted in the Senate
  4. Passed the Senate

In the House of Representatives Feb 11 – Mar 2

  1. Feb 11Sent to the House
  2. Feb 16Referred to the House committee on Banking and Financial Services
  3. Feb 23Reported from committee in the House: title sufficient, do pass as amended
  4. Mar 2Amended in the House
  5. Passed the House as amended

Back in the Senate Mar 3 – Mar 22

  1. Mar 3Returned to the Senate to concur in the House's amendments
  2. Mar 17Concurred in the Senate in the House's amendments
  3. Mar 22Enrolled bill signed in the Senate

To the Governor Mar 23 – Mar 29

  1. Mar 23Enrolled bill signed in the House
  2. Mar 29Approved by the Governor
All 14 actions, as published
  1. Jan 14Referred To Business and Financial InstitutionsSenate
  2. Feb 2Title Suff Do Pass Comm SubSenate
  3. Feb 10Committee Substitute AdoptedSenate
  4. Feb 10PassedSenate
  5. Feb 11Transmitted To HouseSenate
  6. Feb 16Referred To Banking and Financial ServicesHouse of Representatives
  7. Feb 23Title Suff Do Pass As AmendedHouse of Representatives
  8. Mar 2AmendedHouse of Representatives
  9. Mar 2Passed As AmendedHouse of Representatives
  10. Mar 3Returned For ConcurrenceHouse of Representatives
  11. Mar 17Concurred in Amend From HouseSenate
  12. Mar 22Enrolled Bill SignedSenate
  13. Mar 23Enrolled Bill SignedHouse of Representatives
  14. Mar 29Approved by GovernorGovernor