PRIOR PRINTER'S NO. 1029
PRINTER'S NO. 3461
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
850
Session of
2015
INTRODUCED BY MACKENZIE, GROVE, A. HARRIS, MILLARD, GABLER,
COHEN AND MURT, MARCH 26, 2015
AS REPORTED FROM COMMITTEE ON COMMERCE, HOUSE OF
REPRESENTATIVES, AS AMENDED, JUNE 7, 2016
AN ACT
Amending the act of September 2, 1965 (P.L.490, No.249),
entitled "An act providing for the licensing and regulation
of the business of transmitting money or credit for a fee or
other consideration by the issuance of money orders, by the
sale of checks or by other methods; conferring powers and
duties upon the Department of Banking; and imposing
penalties," further providing for title of act, for
definitions, for license required and for exemptions;
repealing provisions relating to partial exemption; further
providing for qualifications for a license, for application
for license, for fee, financial statement and security, for
investigation issuance of license, for term of license, for
renewal of licenses and for authority of the Department of
Banking; providing for suspension, revocation or refusal and
for licensee requirements; further providing for agents and
subagents; repealing provisions relating to hearing and
appeal, injunctions, rules and regulations and examinations
by the Secretary of Banking; and further providing for
penalties.
This act may be referred to as the Money Transmitter Act.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The title of the act of September 2, 1965
(P.L.490, No.249), referred to as the Money Transmission
Business Licensing Law, is amended to read:
AN ACT
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