Bill Text: MN SF247 | 2013-2014 | 88th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Money transmitters fraud prevention measures expansion; no transmit list creation
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2013-04-11 - HF substituted on General Orders HF194 [SF247 Detail]
Download: Minnesota-2013-SF247-Introduced.html
Bill Title: Money transmitters fraud prevention measures expansion; no transmit list creation
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2013-04-11 - HF substituted on General Orders HF194 [SF247 Detail]
Download: Minnesota-2013-SF247-Introduced.html
1.2relating to commerce; preventing fraud; requiring a money transmitter to notify
1.3the sender when someone tries to receive wired funds at a location other than
1.4the location specified by the sender;amending Minnesota Statutes 2012, section
1.553B.27, by adding a subdivision.
1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.7 Section 1. Minnesota Statutes 2012, section 53B.27, is amended by adding a
1.8subdivision to read:
1.9 Subd. 3. Notification of attempted receipt of money transfer at unexpected
1.10location. A money transmitter shall promptly notify the sender of a money transfer if the
1.11money transmitter receives notice that a person has attempted to receive the transfer at a
1.12location other than a location specified by the sender. The money transmitter shall not
1.13authorize receipt of the transfer at any location not specified in writing by the sender at the
1.14time of the transmission unless the money transmitter has received written authorization
1.15from the sender.
1.16EFFECTIVE DATE.This section is effective August 1, 2013, and applies to
1.17money transfers initiated on or after that date.
1.3the sender when someone tries to receive wired funds at a location other than
1.4the location specified by the sender;amending Minnesota Statutes 2012, section
1.553B.27, by adding a subdivision.
1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.7 Section 1. Minnesota Statutes 2012, section 53B.27, is amended by adding a
1.8subdivision to read:
1.9 Subd. 3. Notification of attempted receipt of money transfer at unexpected
1.10location. A money transmitter shall promptly notify the sender of a money transfer if the
1.11money transmitter receives notice that a person has attempted to receive the transfer at a
1.12location other than a location specified by the sender. The money transmitter shall not
1.13authorize receipt of the transfer at any location not specified in writing by the sender at the
1.14time of the transmission unless the money transmitter has received written authorization
1.15from the sender.
1.16EFFECTIVE DATE.This section is effective August 1, 2013, and applies to
1.17money transfers initiated on or after that date.
