MS SB2046

Amends Mississippi Code Section 75-67-525 to add civil penalties for unlicensed check cashing businesses in addition to existing criminal penalties.

Makes any check cashing transaction contract void if the person engaging in check cashing has not secured a required license.

Prohibits unlicensed check cashers from collecting, receiving, or retaining any principal amount, charges, or fees from void transactions.

Maintains existing criminal penalties of up to $1,000 fine and/or up to one year in county jail for operating without a license.

Takes effect July 1, 2015.