Bill Summary

HB 1351 Money Services Businesses (2021 Session)
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Sponsors
by Aloupis, Jr. Co Sponsors: Buchanan, Duran, McFarland, Toledo, Willhite CS Sponsors: Insurance & Banking Subcommittee, Commerce Committee
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Summary
Money Services Businesses: Revises exceptions for licensee during Financial Technology Sandbox period; revises duties of money services businesses; revises violations of money services business activities; revises certain prohibited activities without license; revises requirements for money transmitter or payment instrument seller to conduct business; revises requirements for written contract between money transmitter or payment instrument seller & authorized vendor; provides requirements for money transmitter that receives virtual currency; excludes virtual currency in calculation of permissible investments; revises recordkeeping requirements for money transmitter or payment instrument seller; revises financial liability requirements for money transmitter or payment instrument seller. Effective Date: January 1, 2022
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committees of reference
   H Insurance & Banking Subcommittee
   H State Administration & Technology Appropriations Subcommittee
   H Commerce Committee
» S Rules
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Actions
02/25/21
HOUSE 
Filed
03/05/21
HOUSE 
Referred to Insurance & Banking Subcommittee; State Administration & Technology Appropriations Subcommittee; Commerce Committee
03/05/21
HOUSE 
Now in Insurance & Banking Subcommittee
03/15/21
HOUSE 
On Committee agenda - Insurance & Banking Subcommittee, 03/17/21, 9:30 am, 17 H
03/17/21
HOUSE 
Favorable with CS by Insurance & Banking Subcommittee; 16 Yeas, 1 Nay
03/18/21
HOUSE 
Committee Substitute Text (C1) Filed
03/22/21
HOUSE 
Now in State Administration & Technology Appropriations Subcommittee
03/30/21
HOUSE 
On Committee agenda - State Administration & Technology Appropriations Subcommittee, 04/01/21, 12:30 pm, 102 H
04/01/21
HOUSE 
Favorable by State Administration & Technology Appropriations Subcommittee; 12 Yeas, 0 Nays
04/01/21
HOUSE 
Now in Commerce Committee
04/18/21
HOUSE 
On Committee agenda - Commerce Committee, 04/19/21, 10:00 am, 212 K
04/19/21
HOUSE 
Favorable with CS by Commerce Committee; 20 Yeas, 0 Nays
04/19/21
HOUSE 
Committee Substitute Text (C2) Filed
04/19/21
HOUSE 
Placed on Calendar, on 2nd reading
04/19/21
HOUSE 
Placed on Special Order Calendar, 04/22/21
04/22/21
HOUSE 
Read Second Time; Placed on Third Reading, 04/23/21
04/23/21
HOUSE 
Read Third Time; Passed (Vote: 115 Yeas / 0 Nays)
04/23/21
SENATE
In Messages
04/23/21
SENATE
Received; Referred to Rules
04/30/21
SENATE
Died in Rules
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bill text & filed amendments
1351
Filed on 02/25/21
PDF
Amendment 330635
Aloupis, Jr.
Filed on 03/16/21
Adopted
PDF
1351C1
Filed on 03/18/21
PDF
Amendment 693061
Aloupis, Jr.
Filed on 04/18/21
Adopted
PDF
1351C2
Filed on 04/19/21
PDF
No amendments to this bill text filed.
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Statute Citations
559.952
560.103
560.123
560.125
560.204
560.208
560.2085
560.21
560.211
560.212
Research & Reports
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