Senate Bill NO. 2411

By Representative(s) Formby, Guice

AMEND on line 30 by inserting the letter "(a)" after the figure "(1)"; on line 46 by creating a paragraph "(c)" beginning with the word "A"; and on line 62 by creating a paragraph "(d)" beginning with the word "The"

AMEND FURTHER by deleting the language beginning with the word "A" on line 38 through the period on line 46 and inserting in lieu thereof the following:

"(b) A check cashing business shall (i) have a definitive United States Postal address and E911 address; (ii) comply with local zoning requirements; (iii) have a minimum of one hundred (100) square feet with walls from floor to ceiling separating the operation from any other businesses; (iv) have an outside entrance, but may be located in an area that has a common lobby shared by other businesses as long as the customers do not enter the check cashing business through another business; (v) have proper signage; and (vi) maintain separate books and records. Any licensee who does not cash any delayed deposit checks as authorized under Section 75-67-519 shall not be subject to the requirements of subparagraphs (i), (iii) and (iv) of this paragraph."

AMEND FURTHER on line 56 by deleting the words ", social security check"

AMEND FURTHER by inserting the following language after the period on line 62: "However, a licensee shall not be authorized under this section or by action of the commissioner to accept wire or electronic transfers in the form of direct deposits of social security checks as part of the licensee's check cashing business."

AMEND FURTHER by deleting lines 247 through 249 and inserting in lieu thereof the following: "any person principally engaged in the retail sale of goods or services who otherwise would be exempt from the provisions of this article under Section 75-67-507, who advertises by print, broadcast or electronic media that a check cashing service is provided at the person's place of business, shall obtain a license as required under this article unless the references to the check cashing service in that advertisement are incidental to the principal purpose of the advertisement."