Relating to payment facilitation; prescribing an effective date.
Catchline/Summary:
Exempts from the requirement to obtain a money transmission license a person that assists with or facilitates payment for goods or services under the terms of a contract with a payee if the person does not engage in money transmission and if payment to the person satisfies or otherwise extinguishes a payor's obligation to the payee. Digest: Exempts certain people from having to get a license to transmit money. (Flesch Readability Score: 60.7).
Exempts from the requirement to obtain a money transmission license a person that assists with or facilitates payment for goods or services under the terms of a contract with a payee if the person does not engage in money transmission and if payment to the person satisfies or otherwise extinguishes a payor's obligation to the payee.
Takes effect on the 91st day following adjournment sine die.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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HB 3442 House Committee On Commerce and Consumer Protection
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