AR SB187

Adds "international financial reporting standards" as an alternative to generally accepted accounting principles for determining material litigation disclosure requirements for money services licensees.

Modifies surety bond requirements from a flat $50,000 plus $10,000 per location structure to a variable amount based on previous year's money transmission, payment instrument, and stored value dollar volumes, with minimum $10,000 and maximum $300,000, allowing commissioner to set specific amounts by rule.

Changes money transmission license renewal from December 1 deadline to December 31 deadline and modifies net worth requirements to be calculated at $10,000 per $1,000,000 of previous year's transaction volume with a $50,000 minimum.

Reduces currency exchange license fees from $750 to $375 for both initial application and annual renewal, and changes renewal from biennial to annual with option to renew within 30 days with a $250 late fee.

Repeals Arkansas Code § 23-55-1005 concerning savings and transitional provisions for licenses issued under the repealed Sale of Checks Act.