Mississippi Legislature
2001 Regular Session

House Bill 999

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Bill Text

History of Actions

Background

Title

Description: Check Cashers Act; revise licensing requirements and civil penalties.

Bill Text: [Introduced]

History of Actions:

1 01/15 (H) Referred To Banks and Banking
2 01/30 (H) Died In Committee

Background Information:

Effective datePassage
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredThree/Fifths

House Committee:

Principal Author: Guice

Code Sections: A 075-0067-0505, A 075-0067-0507, A 075-0067-0515, A 075-0067-0519, A 075-0067-0525, RP 075-0067-0539

Title: AN ACT TO AMEND SECTION 75-67-505, MISSISSIPPI CODE OF 1972, TO REVISE THE LICENSING REQUIREMENTS FOR A CHECK CASHING BUSINESS AND TO PROVIDE THAT A LICENSEE WHO FAILS TO PAY THE ANNUAL RENEWAL FEE SHALL BE LIABLE FOR THE FULL AMOUNT OF THE LICENSE FEE PLUS A PENALTY; TO AMEND SECTION 75-67-507, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ANY PERSON PRINCIPALLY ENGAGED IN THE RETAIL SALE OF GOODS OR SERVICES WHO ADVERTISES ON THE PHYSICAL GROUNDS OF HIS PLACE OF BUSINESS THAT A CHECK CASHING SERVICE IS PROVIDED SHALL OBTAIN A LICENSE UNDER THIS ARTICLE; TO AMEND SECTION 75-67-515, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT NOTHING IN THIS ARTICLE SHALL PROHIBIT A LICENSEE FROM ISSUING COUPONS TO CUSTOMERS WHICH ARE REDEEMABLE AGAINST A DEFERRED DEPOSIT TRANSACTION PROVIDED THE REDEMPTION RESULTS IN A FINANCIAL BENEFIT TO THE CUSTOMER ON CURRENT OR FUTURE TRANSACTIONS; TO AMEND SECTION 75-67-519, MISSISSIPPI CODE OF 1972, TO AUTHORIZE A LICENSEE TO CHARGE A FEE FOR A RETURNED CHECK DUE TO INSUFFICIENT FUNDS IF THE FEE IS IN THE WRITTEN AGREEMENT; TO AMEND SECTION 75-67-525, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ANY PERSON WHO ENGAGES IN THE BUSINESS OF CHECK CASHING WITHOUT FIRST SECURING A LICENSE SHALL BE LIABLE FOR THE FULL AMOUNT OF THE LICENSE FEE PLUS A PENALTY; TO CREATE A NEW CODE SECTION TO PROHIBIT THE ADVERTISING, DISPLAYING OR PUBLISHING OF FALSE OR MISLEADING STATEMENTS BY A LICENSEE; TO REPEAL SECTION 75-67-539, MISSISSIPPI CODE OF 1972, WHICH PROVIDES FOR THE REPEAL OF THE MISSISSIPPI CHECK CASHERS ACT; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 01/30/01 at 18:19.

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2001/html/History/HB/HB0999.htm