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 Bill Status of HB4805  100th General Assembly


Short Description:  MONEY TRANSMITTER-SURETY BOND

House Sponsors
Rep. David S. Olsen

Senate Sponsors
(Sen. Chapin Rose )

Last Action
DateChamber Action
  4/12/2018SenateReferred to Assignments

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
  2/13/2018HouseFiled with the Clerk by Rep. David S. Olsen
  2/14/2018HouseFirst Reading
  2/14/2018HouseReferred to Rules Committee
  2/26/2018HouseAssigned to Financial Institutions Committee
  3/6/2018HouseDo Pass / Short Debate Financial Institutions Committee; 008-000-000
  3/8/2018HousePlaced on Calendar 2nd Reading - Short Debate
  4/10/2018HouseSecond Reading - Short Debate
  4/10/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/11/2018HouseThird Reading - Short Debate - Passed 113-000-000
  4/12/2018SenateArrive in Senate
  4/12/2018SenatePlaced on Calendar Order of First Reading
  4/12/2018SenateChief Senate Sponsor Sen. Chapin Rose
  4/12/2018SenateFirst Reading
  4/12/2018SenateReferred to Assignments

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