Bill Text: MI HB4242 | 2015-2016 | 98th Legislature | Introduced

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Bill Title: Financial institutions; money transmitters; posting of fees and rates for money orders and other money transmission services; require. Amends 2006 PA 250 (MCL 487.1001 - 487.1047) by adding sec. 35.

Spectrum: Moderate Partisan Bill (Democrat 13-3)

Status: (Introduced - Dead) 2015-02-26 - Printed Bill Filed 02/26/2015 [HB4242 Detail]

Download: Michigan-2015-HB4242-Introduced.html

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HOUSE BILL No. 4242

 

February 25, 2015, Introduced by Reps. Love, Robinson, LaVoy, Geiss, Moss, Chang, Garrett, Byrd, Gay-Dagnogo, Banks, Townsend, Hovey-Wright, Glenn, Lucido, Bizon and Irwin and referred to the Committee on Financial Services.

 

     A bill to amend 2006 PA 250, entitled

 

"Money transmission services act,"

 

(MCL 487.1001 to 487.1047) by adding section 35.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 35. At each location in this state at which it provides

 

money transmission services, a licensee or authorized delegate

 

shall post a sign, printed in boldfaced type, 36-point or larger,

 

in a conspicuous location visible to members of the public that

 

discloses the licensee's or authorized delegate's fees for each of

 

its money transmission services.