AR SB786

Adds definition of "prepaid access" to the Uniform Money Services Act as access to funds paid in advance that can be retrieved or transferred through electronic devices including cards, codes, and identification numbers

Expands bank exclusion from licensing requirements to include banks that do not issue or provide prepaid access through unauthorized delegates

Extends payment system operator exclusion to include prepaid access transactions alongside wire transfers, credit card transactions, debit card transactions, and stored-value transactions

Requires money services licensees to report prepaid access obligations in license applications, renewal reports, and examination records alongside existing payment instruments and stored-value obligations

Requires licensees to maintain permissible investments equal to the aggregate amount of all outstanding payment instruments, stored value, and prepaid access obligations to protect consumers in bankruptcy or receivership