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MI HB4580

Bill

Official Source

Status

Introduced

5/9/2019

Primary Sponsor

Leslie Love

Click for details

Origin

House of Representatives

100th Legislature

AI Summary

  • Requires money transmission service licensees and authorized delegates to post a sign at each Michigan location where they provide services
  • Sign must be printed in boldfaced type, at least 36-point font size, and placed in a conspicuous public location
  • Sign must disclose all fees charged for each money transmission service offered
  • Takes effect 90 days after enactment into law
  • Applies to 2006 PA 250, the Money Transmission Services Act

Legislative Description

Financial institutions; money transmitters; posting of fees for money orders and other money transmission services; require. Amends 2006 PA 250 (MCL 487.1001 - 487.1047) by adding sec. 35.

Financial institutions: money transmitters

Last Action

Bill Electronically Reproduced 05/14/2019

5/14/2019

Committee Referrals

Regulatory Reform5/9/2019

Full Bill Text

No bill text available