Illinois General Assembly - Bill Status for SB3084
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 Bill Status of SB3084  100th General Assembly


Short Description:  MONEY TRANSMITTER-SURETY BOND

Senate Sponsors
Sen. Chapin Rose

House Sponsors
(Rep. David S. Olsen )

Last Action
DateChamber Action
  4/19/2018HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
205 ILCS 657/30


Synopsis As Introduced
Amends the Transmitters of Money Act. Provides that a money transmitter applicant or a money transmitter licensee shall post a bond in the amount of $50,000 or an amount equal to 1% of all Illinois-based activity, whichever is greater (rather than the greater of $100,000 or an amount equal to the daily average of outstanding payment instruments for the preceding 12 months or operational history). Effective immediately.

Actions 
DateChamber Action
  2/15/2018SenateFiled with Secretary by Sen. Chapin Rose
  2/15/2018SenateFirst Reading
  2/15/2018SenateReferred to Assignments
  2/21/2018SenateAssigned to Licensed Activities and Pensions
  3/1/2018SenateDo Pass Licensed Activities and Pensions; 010-000-000
  3/1/2018SenatePlaced on Calendar Order of 2nd Reading March 13, 2018
  4/10/2018SenateSecond Reading
  4/10/2018SenatePlaced on Calendar Order of 3rd Reading April 11, 2018
  4/18/2018SenateThird Reading - Passed; 057-000-000
  4/18/2018HouseArrived in House
  4/18/2018HouseChief House Sponsor Rep. David S. Olsen
  4/19/2018HouseFirst Reading
  4/19/2018HouseReferred to Rules Committee

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