90th General Assembly
Summary of SB1096
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Senate Sponsors:
O'MALLEY.

Short description: 
CUR XCHNG-LLC-DEBT MGT ACT                                                 

Synopsis of Bill as introduced:
        Amends the Currency Exchange Act.  Provides that the Act  applies      
   to  limited  liability  companies  and  authorizes  limited  liability      
   companies  to  conduct  business  as a currency exchange.   Amends the      
   Financial Planning and Management Service Act.  Changes the  title  of      
   the  Act.  Changes the short title to the Debt Management Service Act.      
   Provides that the Act applies to the business of planning and managing      
   the financial affairs of a debtor including receiving money  from  the      
   debtor  to  pay  debts.     Establishes  procedures for revocation and      
   suspension  of  licenses.   Provides  for   annual   examinations   of      
   licensees.  Limits fees that may be charged.  Requires client funds to      
   be maintained in trust funds.   Effective January 1, 1998.                  
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status