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AZ HB2852
Bill
Status
2/28/2020
Primary Sponsor
Shawnna Bolick
Click for details
AI Summary
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Amends section 6-1203 to add a new exemption for persons providing money transmitter services on behalf of banks, credit unions, and similar financial institutions, provided there is a written agency agreement and the financial institution remains responsible for the services.
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Renumbers existing exemptions in section 6-1203 to account for the new exemption for bank-affiliated service providers.
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Modifies section 6-1208 to remove the requirement that contracts between licensees and authorized delegates must contain a current copy of chapter 6 as an appendix.
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Changes language in section 6-1208 from "permit" to "allow" regarding compliance obligations and removes the phrase "the provisions of" when referencing title 13, chapter 23.
Legislative Description
Money transmitters; exemptions; authorized delegates
Last Action
Senate consent calendar
3/16/2020