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AZ HB2852

Bill

Status

Engrossed

2/28/2020

Primary Sponsor

Shawnna Bolick

Click for details

Origin

House of Representatives

Fifty-fourth Legislature - Second Regular Session (2020)

AI Summary

  • 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.

  • Renumbers existing exemptions in section 6-1203 to account for the new exemption for bank-affiliated service providers.

  • 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.

  • 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

Full Bill Text

No bill text available