Relating to the regulation of money services businesses; creating a criminal offense; creating administrative penalties; authorizing the imposition of a fee.
Relating to modernizing the regulation of money services businesses.
UNIFORM MONEY TRANSMISSION ACT
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any person to become a depositor or lessor of a safe deposit box, providing methods in which bank deposits may be withdrawn by a depositor and prohibiting banks from requiring a cosigner for an account of a child in the custody of the secretary for children and families, secretary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.
Financial institutions; regulation of money transmitters, penalty.
Enacting the Kansas money transmission act.
Money Transmission; Virtual Currency
Money Transmission; Virtual Currency