Comments: IL SB3670 | 2023-2024 | 103rd General Assembly
Bill Title: Creates the Uniform Money Transmission Modernization Act. Provides that the provisions supersede the Transmitters of Money Act. Sets forth provisions concerning money transmission licenses; acquisition of control; reporting and records; authorized delegates; timely transmission, refunds, and disclosures; prudential standards; and enforcement. Repeals the Transmitters of Money Act. Makes other changes. Effective January 1, 2026.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced) 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments [SB3670 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced) 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments [SB3670 Detail]
Text: Latest bill text (Introduced) [HTML]
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