HB 24-1328 CO

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Became Law

The act implements recommendations of the department of regulatory agencies, as specified in the department's sunset review of the regulation of money transmitters, as follows: Sections 1 and 2 of the act continue the regulation of money transmitters until 2030; Section 3 authorizes the banking board to suspend a money transmitter's license; Section 4 expands the requirement to furnish surety bond coverage to include all money transmission, rather than merely exchange; Section 5 increases the maximum penalty for failure to report from $250 to $750 per day and for failure to allow the state bank commissioner to make an examination from $100 to $1,000 per day; Section 6 authorizes the state bank commissioner to submit fingerprints directly to the federal bureau of investigation for a criminal history record check; Section 7 repeals the requirement that license holders annually report the name, address, and telephone number of each owner of at least 10% of the agent of the money transmitter; Section 8 authorizes the state bank commissioner to issue cease-and-desist orders and sets procedural requirements; Section 9 expands the licensing exemption for in-state banks to also cover out-of-state banks and repeals the licensing exemption for telegraph or cable companies; and Sections 10 through 12 replace gendered pronouns with gender-neutral terms. APPROVED by Governor June 3, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

• Regina English Democratic · primary
• Chad Clifford Democratic · primary
• Janice Rich Republican · primary

1. Jun 3, 2024 Governor Signed · executive
2. May 29, 2024 Sent to the Governor · executive
3. May 29, 2024 Signed by the President of the Senate · upper
4. May 29, 2024 Signed by the Speaker of the House · lower
5. Apr 24, 2024 Senate Third Reading Passed - No Amendments · upper
6. Apr 23, 2024 Senate Second Reading Special Order - Passed - No Amendments · upper
7. Apr 23, 2024 Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole · upper
8. Apr 16, 2024 Senate Committee on Finance Refer Unamended to Appropriations · upper
9. Apr 10, 2024 Introduced In Senate - Assigned to Finance · upper
10. Apr 8, 2024 House Third Reading Passed - No Amendments · lower
11. Apr 5, 2024 House Second Reading Special Order - Passed with Amendments - Floor · lower
12. Apr 5, 2024 House Committee on Appropriations Refer Unamended to House Committee of the Whole · lower
13. Mar 7, 2024 House Committee on Business Affairs & Labor Refer Unamended to Appropriations · lower
14. Feb 21, 2024 Introduced In House - Assigned to Business Affairs & Labor · lower