House Bill 455

AN ACT TO REENACT SECTIONS 75-67-501 THROUGH 75-67-537, MISSISSIPPI CODE OF 1972, WHICH ARE THE MISSISSIPPI CHECK CASHERS ACT; TO AMEND REENACTED SECTION 75-67-505, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ANY TRANSACTION THAT WOULD BE SUBJECT TO THE CHECK CASHERS ACT THAT IS MADE BY A PERSON WHO DOES NOT HAVE A VALID LICENSE UNDER THE ACT SHALL BE NULL AND VOID; TO AMEND REENACTED SECTION 75-67-519, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE PERIOD OF A DELAYED DEPOSIT CHECK OF NOT MORE THAN $250.00 MAY BE FOR UP TO 30 DAYS, AND THE PERIOD OF A DELAYED DEPOSIT CHECK OF MORE THAN $250.00 BUT NOT MORE THAN $500.00 SHALL BE FOR 28 TO 30 DAYS, AS SELECTED BY THE CUSTOMER, WITH THE LICENSEE HAVING THE OPTION TO DEPOSIT OR COLLECT THE CHECK; TO INCREASE THE MAXIMUM FACE AMOUNT OF A DELAYED DEPOSIT CHECK TO $500.00 AND INCREASE THE MAXIMUM AMOUNT THAT A CUSTOMER MAY HAVE OUTSTANDING AT ANY TIME TO $500.00; TO REVISE THE MAXIMUM FEE FOR CASHING A DELAYED DEPOSIT CHECK FROM A PERCENTAGE OF THE FACE VALUE OF THE CHECK TO A STATED DOLLAR AMOUNT PER $100.00 ADVANCED; TO PROVIDE THAT THE MAXIMUM FEE FOR CASHING A DELAYED DEPOSIT CHECK OF NOT MORE THAN $250.00 SHALL BE $20.00 PER $100.00 ADVANCED, AND THE MAXIMUM FEE FOR CASHING A DELAYED DEPOSIT CHECK OF MORE THAN $250.00 BUT NOT MORE THAN $500.00 SHALL BE $21.95 PER $100.00 ADVANCED; TO REQUIRE LICENSEES TO PROVIDE THE CUSTOMER A PAMPHLET PREPARED BY THE COMMISSIONER OF BANKING THAT DESCRIBES GENERAL INFORMATION ABOUT THE TRANSACTION AND ABOUT THE CUSTOMER'S RIGHTS AND RESPONSIBILITIES IN THE TRANSACTION AND INCLUDES THE CONSUMER HOTLINE PHONE NUMBER TO THE MISSISSIPPI DEPARTMENT OF BANKING AND CONSUMER FINANCE AND TO THE MISSISSIPPI ATTORNEY GENERAL'S OFFICE, BEFORE ENTERING INTO A DELAYED DEPOSIT TRANSACTION; TO AMEND SECTION 75-67-539, MISSISSIPPI CODE OF 1972, TO EXTEND THE DATE OF THE REPEALER ON THE CHECK CASHERS ACT; AND FOR RELATED PURPOSES.

In the House of Representatives

• George Flaggs, Jr.

  Sponsor

• House of Representatives floor amendmentAdopted

  Adopted Jan 18

• House of Representatives floor amendmentPending

• House of Representatives floor amendmentPending

• House of Representatives floor amendmentPending

• Senate committee amendmentAdopted

  Adopted Jan 21

• Senate floor amendmentPending

• Senate floor amendmentPending

• Senate floor amendmentPending

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

In the House of Representatives Jan 6 – Jan 18

1. Jan 6Referred to the House committee on Banking and Financial Services
2. Jan 11Reported from committee in the House: title sufficient, do pass as a committee substitute
3. Jan 14Read the third time in the House
4. Jan 18Committee substitute adopted in the House
5. Amended in the House
6. Passed the House as amended

In the Senate Jan 18 – Jan 21

1. Jan 18Motion in the House to reconsider entered (Mayo, Flaggs and Walley)
2. Jan 19Motion in the House to reconsider tabled
3. Sent to the Senate
4. Jan 20Referred to the Senate committee on Business and Financial Institutions
5. Reported from committee in the Senate: title sufficient, do pass as amended
6. Jan 21Amended in the Senate
7. Passed the Senate as amended

Back in the House of Representatives Jan 21 – Feb 22

1. Jan 21Motion in the Senate to reconsider entered
2. Jan 24Motion in the Senate to reconsider tabled
3. Returned to the House to concur in the Senate's amendments
4. Feb 3Declined in the House to concur, and invited a conference
5. Feb 7Conferees named in the House: Flaggs, Walley and Chism
6. Feb 10Conferees named in the Senate: Jackson (15th), Michel and Wilemon
7. Conference report filed in the Senate
8. Conference report filed in the House
9. Feb 14Conference report adopted in the House
10. Motion in the House to reconsider entered (Buck (5th), Flaggs, Walley and Holland)
11. Feb 15Motion in the House to reconsider tabled
12. Feb 16Conference report adopted in the Senate
13. Feb 22Enrolled bill signed in the House

To the Governor Feb 22 – Feb 24

1. Feb 22Enrolled bill signed in the Senate
2. Feb 24Approved by the Governor