Loading chat...

AZ HB2508

Bill

Status

Passed

4/20/2021

Primary Sponsor

Shawnna Bolick

Click for details

Origin

House of Representatives

Fifty-fifth Legislature - First Regular Session (2021)

AI Summary

  • Adds exemption for persons providing money transmitter services as agents for banks and financial institutions if a written agreement exists and the financial institution remains responsible for services to customers.

  • Renumbers existing exemptions for check cashers and foreign money exchangers acting as authorized delegates, and for persons licensed under various financial regulatory chapters.

  • Removes requirement that licensees prominently display money transmitter licenses in principal and branch offices and that authorized delegates display notices indicating their delegate status.

  • Changes reference from "superintendent" to "deputy director" when notifying authorized delegates of license suspension, revocation, or non-renewal.

  • Simplifies contract requirements between licensees and authorized delegates by removing requirement to include current copy of the chapter as appendix.

Legislative Description

Money transmitters; exemptions; authorized delegates

Exemption

Last Action

Chapter 263

4/20/2021

Committee Referrals

Rules3/3/2021
Finance3/1/2021
Rules2/1/2021
Commerce1/28/2021

Full Bill Text

No bill text available