l9n/ Mississippi

2025 Regular Session

Senate Bill 2507

Mississippi Money Transmission Modernization Act; enact.

Did not become law. It stopped in the House of Representatives's Banking and Financial Services Committee on March 4, 2025. The 2025 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO ENACT THE MISSISSIPPI MONEY TRANSMISSION MODERNIZATION ACT; TO STATE THE PURPOSE AND INTENT OF THE ACT; TO DEFINE TERMS; TO PROVIDE CERTAIN EXEMPTIONS TO THE ACT; TO PROVIDE PROVISIONS ON THE IMPLEMENTATION OF THE ACT, CONFIDENTIALITY UNDER THE ACT, THE COMMISSIONER'S SUPERVISION OF THE ACT, AND THE RELATIONSHIP OF THE ACT TO FEDERAL LAW; TO PROVIDE FOR MONEY TRANSMISSION LICENSES; TO PROVIDE FOR ACQUISITION OF CONTROL AND NOTICE AND INFORMATION REQUIREMENTS FOR A CHANGE OF KEY INDIVIDUALS; TO PROVIDE REPORTING AND RECORD REQUIREMENTS UNDER THE ACT; TO PERMIT AUTHORIZED DELEGATES; TO REQUIRE CERTAIN DISCLOSURES BY LICENSEES; TO SET FORTH CERTAIN PRUDENTIAL STANDARDS; TO PROVIDE ENFORCEMENT PROVISIONS; TO AUTHORIZE THE COMMISSIONER TO INVESTIGATE POSSIBLE VIOLATIONS OF THE ACT; TO PROVIDE THAT THIS ACT SHOULD BE CONSTRUED AND APPLIED TO PROMOTE UNIFORMITY OF LAW; TO PROVIDE THAT THE PROVISIONS OR APPLICATIONS OF THIS ACT SHALL BE SEVERABLE; TO PROVIDE FOR A TRANSITION PERIOD; TO REPEAL SECTION 75-15-1, MISSISSIPPI CODE OF 1972, WHICH IS THE CHAPTER OF LAW THAT CREATES THE MISSISSIPPI MONEY TRANSMITTERS ACT; 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 20 to March 4, 2025, 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 5 days

In the SenateJan 20 to Feb 1223 days

Business and Financial InstitutionsJan 20 to Jan 3010 days

In the House of RepresentativesFeb 12 to Mar 4 · stopped20 days

Banking and Financial ServicesFeb 17 to Mar 4 · stopped15 days

Amendments

Each amendment offered, and what became of it.

  • Senate floor amendmentAdopted

    Adopted Feb 12

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 20 – Feb 12

  1. Jan 20Referred to the Senate committee on Business and Financial Institutions
  2. Jan 30Reported from committee in the Senate: title sufficient, do pass as a committee substitute
  3. Feb 12Committee substitute adopted in the Senate
  4. Amended in the Senate
  5. Passed the Senate as amended

In the House of Representatives Feb 17 – Mar 4

  1. Feb 17Sent to the House
  2. Referred to the House committee on Banking and Financial Services
  3. Mar 4Died in committee in the House
All 8 actions, as published
  1. Jan 20Referred To Business and Financial InstitutionsSenate
  2. Jan 30Title Suff Do Pass Comm SubSenate
  3. Feb 12Committee Substitute AdoptedSenate
  4. Feb 12AmendedSenate
  5. Feb 12Passed As AmendedSenate
  6. Feb 17Transmitted To HouseSenate
  7. Feb 17Referred To Banking and Financial ServicesHouse of Representatives
  8. Mar 4Died In CommitteeHouse of Representatives