Bill Text: MI HB4580 | 2019-2020 | 100th Legislature | Introduced

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

Spectrum: Partisan Bill (Democrat 11-0)

Status: (Introduced - Dead) 2019-05-14 - Bill Electronically Reproduced 05/14/2019 [HB4580 Detail]

Download: Michigan-2019-HB4580-Introduced.html

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HOUSE BILL No. 4580

 

 

May 9, 2019, Introduced by Reps. Love, Ellison, Sowerby, Coleman, Hope, Cynthia Johnson, Stone, Sabo, Yancey, Neeley and Brixie and referred to the Committee on Regulatory Reform.

 

     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.

 

     Enacting section 1. This amendatory act takes effect 90 days

 

after the date it is enacted into law.