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AZ HB2508
Bill
Status
4/20/2021
Primary Sponsor
Shawnna Bolick
Click for details
AI Summary
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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.
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Renumbers existing exemptions for check cashers and foreign money exchangers acting as authorized delegates, and for persons licensed under various financial regulatory chapters.
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Removes requirement that licensees prominently display money transmitter licenses in principal and branch offices and that authorized delegates display notices indicating their delegate status.
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Changes reference from "superintendent" to "deputy director" when notifying authorized delegates of license suspension, revocation, or non-renewal.
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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