Mississippi Senate Bill 2507

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 20 2025 - 25% progression
Action: 2025-01-20 - Referred To Business and Financial Institutions
Pending: Senate Business and Financial Institutions Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Enact The Mississippi Money Transmission Modernization Act; To State The Purpose And Intent Of The Act; To Define Terms; To Provide Certain Exemptions To The Act; To Provide Provisions On The Implementation Of The Act, Confidentiality Under The Act, The Commissioner's Supervision Of The Act, And The Relationship Of The Act To Federal Law; To Provide For Money Transmission Licenses; To Provide For Acquisition Of Control And Notice And Information Requirements For A Change Of Key Individuals; To Provide Reporting And Record Requirement Under The Act; To Permit Authorized Delegates; To Require Certain Disclosures By Licensees; To Set Forth Certain Prudential Standards; To Provide Enforcement Provisions; To Authorize The Commissioner To Investigate Possible Violations Of The Act; To Provide That This Act Should Be Construed And Applied To Promote Uniformity Of Law; To Provide A That The Provisions Or Applications Of This Act Shall Be Severable; To Provide For A Transition Period; To Repeal Section 75-15-1, Mississippi Code Of 1972, Which Is The Chapter Of Law That Creates The Mississippi Money Transmitters Act; And For Related Purposes.

Mississippi Money Transmission Modernization Act; enact.

Sen. John Polk [R]

Date	Chamber	Action
2025-01-20	Senate	Referred To Business and Financial Institutions

Chapter	Article	Section	Citation Type	Statute Text
75	15	1	Repealed Code	See Bill Text
75	15	35	Repealed Code	See Bill Text

Type	Source
Summary	https://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2507.xml
Text	https://billstatus.ls.state.ms.us/documents/2025/html/SB/2500-2599/SB2507IN.htm