CS/HB 1277 (2012) -  Money Services Businesses

General Bill by Insurance & Banking Subcommittee and Davis
Money Services Businesses: Revises frequency & notice requirements for examinations & investigations by OFR of money services business licensees; prohibits money services businesses, authorized vendors, & affiliated parties from knowingly possessing certain paraphernalia used or intended or designed for use in misrepresenting customer's identity; prohibits certain persons from providing customer's personal identification information to licensee; prohibits certain acts by money services businesses, authorized vendors, & affiliated parties; revises conditions for which money services business license may be suspended; requires licensee to maintain its own federally insured depository account & deposit into account any payment instruments cashed; requires licensee to notify OFR & cease to cash payment instruments if licensee ceases to maintain account; prohibits licensee from accepting or cashing payment instrument from person who is not original payee except under certain circumstances; establishes limit on amount of fees that licensees may charge for direct costs of verification; revises requirements for records that licensee must maintain.
Effective Date: July 1, 2012
Last Event: Chapter No. 2012-85 on Sunday, April 8, 2012 7:55 PM

Referred Committees and Committee Actions

House Referrals

Related Bills

Bill # Subject Relationship
Bill #: HB 1279 Subject: Pub. Rec./Money Services Businesses Database of Payment Instrument Transactions Relationship: Linked
Bill #: CS/CS/SB 1586 Subject: Money Services Businesses Relationship: Similar
Bill #: SB 1584 Subject: Public Records/Money Services Businesses/Office of Financial Regulation Relationship: Compare

Bill Text

Staff Analysis

Chamber Committee
Chamber: House Committee: Final Bill Analysis 4/16/2012 1:58:25 PM
Chamber: House Committee: Final Bill Analysis 3/19/2012 5:35:48 PM
Chamber: House Committee: Economic Affairs Committee 2/16/2012 7:07:08 PM
Chamber: House Committee: Economic Affairs Committee 2/14/2012 6:08:55 PM
Chamber: House Committee: Insurance & Banking Subcommittee 2/1/2012 9:30:30 AM
Chamber: House Committee: Insurance & Banking Subcommittee 1/27/2012 7:06:50 PM

Vote History

Chamber Date Yeas Nays Action Action 2 Vote Detail Barcode
Chamber: House Date: 02/23/2012 03:12 PM   Yeas: 115 Nays: 0 Action: Passage Action 2: Vote Detail: Vote [Seq# 899] Barcode:
Chamber: Senate Date: 03/08/2012 09:49 AM   Yeas: 40 Nays: 0 Action: Action 2: Vote Detail: Vote [Seq# 6] Barcode:

Bill History

Event Time Member Committee Ver.
Event: Chapter No. 2012-85 Time: 04/08/2012 - 7:55 PM Member: Committee: Version: er
Event: Approved by Governor Time: 04/06/2012 - 7:13 PM Member: Committee: Version: er
Event: Signed by Officers and presented to Governor Time: 03/30/2012 - 10:37 AM Member: Committee: Version: er
Event: H Ordered enrolled Time: 03/08/2012 - 10:56 AM Member: Committee: Version: c1
Event: H In Messages Time: 03/08/2012 - 10:56 AM Member: Committee: Version: c1
Event: S CS passed; YEAS 40 NAYS 0 -SJ 963 Time: 03/08/2012 - 9:49 AM Member: Committee: Version: c1
Event: S Read 3rd time -SJ 963 Time: 03/08/2012 - 9:48 AM Member: Committee: Version: c1
Event: S Read 2nd time -SJ 963 Time: 03/08/2012 - 9:47 AM Member: Committee: Version: c1
Event: S Substituted for CS/CS/SB 1586 -SJ 963 Time: 03/08/2012 - 9:47 AM Member: Committee: Version: c1
Event: S Placed on Special Order Calendar, 03/08/12 Time: 03/08/2012 - 9:46 AM Member: Committee: Version: c1
Event: S Placed on Calendar, on 2nd reading -SJ 962 Time: 03/08/2012 - 9:45 AM Member: Committee: Version: c1
Event: S Withdrawn from Banking and Insurance; Budget Subcommittee on General Government Appropriations; Budget -SJ 962 Time: 03/08/2012 - 9:44 AM Member: Committee: Version: c1
Event: S Referred to Banking and Insurance; Budget Subcommittee on General Government Appropriations; Budget -SJ 829 Time: 03/05/2012 - 7:12 PM Member: Committee: Version: c1
Event: S Received -SJ 829 Time: 03/05/2012 - 7:10 PM Member: Committee: Version: c1
Event: S In Messages Time: 02/24/2012 - 4:40 PM Member: Committee: Version: c1
Event: H Message sent to senate Time: 02/24/2012 - 3:52 PM Member: Committee: Version: c1
Event: H CS passed; YEAS 115, NAYS 0 Time: 02/23/2012 - 3:12 PM Member: Committee: Version: c1
Event: H Passage on third reading Time: 02/23/2012 - 3:12 PM Member: Committee: Version: c1
Event: H Read 3rd time Time: 02/23/2012 - 3:12 PM Member: Committee: Version: c1
Event: H Added to Third Reading Calendar Time: 02/22/2012 - 5:17 PM Member: Committee: Version: c1
Event: H Placed on 3rd reading Time: 02/22/2012 - 4:49 PM Member: Committee: Version: c1
Event: H Read 2nd time Time: 02/22/2012 - 4:47 PM Member: Committee: Version: c1
Event: H Bill added to Special Order Calendar (2/22/2012) Time: 02/20/2012 - 6:40 PM Member: Committee: Version: c1
Event: H Added to Second Reading Calendar Time: 02/18/2012 - 9:52 AM Member: Committee: Version: c1
Event: H Bill released to House Calendar Time: 02/18/2012 - 9:52 AM Member: Committee: Version: c1
Event: H Reported out of Economic Affairs Committee Time: 02/18/2012 - 9:52 AM Member: Committee: Economic Affairs Committee Version: c1
Event: H Removed from Meeting Agenda of Economic Affairs Committee Time: 02/16/2012 - 3:15 PM Member: Committee: Economic Affairs Committee Version: c1
Event: H Favorable by Economic Affairs Committee Time: 02/16/2012 - 2:30 PM Member: Committee: Economic Affairs Committee Version: c1
Event: H Added to Economic Affairs Committee agenda Time: 02/15/2012 - 4:18 PM Member: Committee: Economic Affairs Committee Version: c1
Event: H Added to Economic Affairs Committee agenda Time: 02/14/2012 - 4:25 PM Member: Committee: Economic Affairs Committee Version: c1
Event: H Now in Economic Affairs Committee Time: 02/02/2012 - 2:09 PM Member: Committee: Economic Affairs Committee Version: c1
Event: H Referred to Economic Affairs Committee Time: 02/02/2012 - 2:09 PM Member: Committee: Economic Affairs Committee Version: c1
Event: H 1st Reading Time: 02/01/2012 - 6:48 PM Member: Committee: Version: c1
Event: H CS Filed Time: 02/01/2012 - 9:31 AM Member: Committee: Version: c1
Event: H Laid on Table under Rule 7.19(a) Time: 02/01/2012 - 9:31 AM Member: Committee: Version: __
Event: H Reported out of Insurance & Banking Subcommittee Time: 02/01/2012 - 9:28 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Favorable with CS by Insurance & Banking Subcommittee Time: 01/30/2012 - 4:30 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H PCS added to Insurance & Banking Subcommittee agenda Time: 01/26/2012 - 4:21 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Now in Insurance & Banking Subcommittee Time: 01/12/2012 - 11:18 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Referred to Economic Affairs Committee Time: 01/12/2012 - 11:18 AM Member: Committee: Economic Affairs Committee Version: __
Event: H Referred to Government Operations Appropriations Subcommittee Time: 01/12/2012 - 11:18 AM Member: Committee: Government Operations Appropriations Subcommittee Version: __
Event: H Referred to Rulemaking & Regulation Subcommittee Time: 01/12/2012 - 11:18 AM Member: Committee: Rulemaking & Regulation Subcommittee Version: __
Event: H Referred to Insurance & Banking Subcommittee Time: 01/12/2012 - 11:18 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H 1st Reading Time: 01/10/2012 - 11:59 PM Member: Committee: Version: __
Event: H Filed Time: 01/05/2012 - 4:43 PM Member: Davis Committee: Version: __