Financial institutions: money transmitters; money transmission modernization act; create. Creates act & repeals 2006 PA 250 (MCL 487.1001 - 487.1047).
Money transmission; money transmitter licensure
Financial institutions; regulation of money transmitters, penalty.
Financial institutions; regulation of money transmitters, penalty, effective date.
Enacting the Kansas money transmission act and the Kansas earned wage access services act, providing when applications under the state banking code are considered abandoned or expired, allowing an originating trustee to have such trustee's principal place of business outside of Kansas, authorizing any person to become a depositor or lessor of a safe deposit box, providing methods in which bank deposits may be withdrawn by a depositor and prohibiting banks from requiring a cosigner for an account of a child in the custody of the secretary for children and families, secretary of corrections or a federally recognized Indian tribe.
An Act to Replace the Money Transmitters Act
UNIFORM MONEY TRANSMISSION ACT
Relative to the regulation of money transmission by the Division of Banks