Revision: July 18, 2024, 11:49 a.m.
July 10, 2024
2024-2362-EBA
09/05
Enrolled Bill Amendment to HB 1241
The Committee on Enrolled Bills to which was referred HB 1241
AN ACT relative to the regulation of money transmitters and relative to license applications and renewals for certain consumer credit entities.
Having considered the same, report the same with the following amendment, and the recommendation that the bill as amended ought to pass.
FOR THE COMMITTEE
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Explanation to Enrolled Bill Amendment to HB 1241
This enrolled bill amendment makes technical and grammatical corrections to the bill and amends the title to reflect its contents.
Enrolled Bill Amendment to HB 1241
Amend the title of the bill by replacing it with the following:
AN ACT relative to the regulation of money transmitters; relative to license applications and renewals for certain consumer credit entities; and requiring the investment advisor for the public deposit investment pool to maintain funds in a particular manner.
Amend RSA 399-G:2, VIII as inserted by section 1 of the bill by replacing line 6 with the following:
the rating is equal to or higher than A-2 or SP-2 by S&P, or the equivalent from any other eligible
Amend RSA 399-G:2, XI as inserted by section 1 of the bill by replacing line 7 with the following:
such location, including but not limited to an address associated with an account.
Amend RSA 399-G:4, XI as inserted by section 1 of the bill by replacing line 2 with the following:
are filed with the commissioner in accordance with RSA 399-G:36.
Amend RSA 399-G:8, II(i) as inserted by section 1 of the bill by replacing line 2 with the following:
the United States, a copy of documentation similar to that required in subparagraph (h) above, filed
Amend RSA 399-G:10, III as inserted by section 1 of the bill by replacing line 3 with the following:
the criminal background check response from the FBI, and addresses all of the matters that are
Amend RSA 399-G:12, IV as inserted by section 1 of the bill by replacing line 2 with the following:
applications and the imposition of penalties under RSA 399-G:34.
Amend RSA 399-G:13, V as inserted by section 1 of the bill by replacing line 6 with the following:
within 60 days after the completion date, the application shall be deemed approved and the person, or
Amend RSA 399-G:26, III as inserted by section 1 of the bill by replacing line 2 with the following:
or licensee from the requirements of paragraphs I and II for good cause shown.
Amend RSA 399-G:27, II as inserted by section 1 of the bill by replacing it with the following:
II. The amount of the required security shall be the greater of $100,000 or an amount equal to 100 percent of the licensee's average daily money transmission liability in this state calculated for the most recently completed 3-month period, up to a maximum of $500,000.
Amend RSA 399-G:27, IV as inserted by section 1 of the bill by replacing it with the following:
IV. A licensee may exceed the maximum required bond amount pursuant to RSA 399-G:29, I(e).
Amend RSA 399-G:28, II as inserted by section 1 of the bill by replacing line 1 with the following:
II. Except for permissible investments enumerated in RSA 399-G:29, I the commissioner,
Amend RSA 399-G:28, IV as inserted by section 1 of the bill by replacing line 2 with the following:
any funds are drawn on a letter of credit pursuant to RSA 399-G:29, I(d), the commissioner shall
Amend the introductory paragraph of RSA 399-G:29, I as inserted by section 1 of the bill by replacing line 1 with the following:
I. The following investments are permissible under RSA 399-G:28:
Amend RSA 399-G:29, I(d)(1)(A) as inserted by section 1 of the bill by replacing lines 4-6 with the following:
and that:
(i) Bears an eligible rating or whose parent company bears an eligible rating; and
(ii) Is regulated, supervised, and examined by United States federal or state authorities having regulatory authority over banks, credit unions, and trust companies;
Amend RSA 399-G:29, I(d)(2) as inserted by section 1 of the bill by replacing line 4 with the following:
permissible investments in accordance with RSA 399-G:28, I upon the expiration of the letter of
Amend RSA 399-G:29, I(d)(2) as inserted by section 1 of the bill by replacing line 7 with the following:
investments in accordance with RSA 399-G:28, I. Any such draw shall be offset against the
Amend RSA 399-G:29, I(d)(3)(B)(iv) as inserted by section 1 of the bill by replacing line 3 with the following:
licensee will maintain permissible investments in accordance with RSA 399-G:28, I upon the
Amend RSA 399-G:29, II as inserted by section 1 of the bill by replacing line 2 with the following:
herein, the following investments are permissible under RSA 399-G:28 to the extent specified:
Amend RSA 399-G:32, IV as inserted by section 1 of the bill by replacing line 2 with the following:
petition the superior court for a judicial order setting aside, limiting, or suspending the enforcement,
Amend RSA 339-G:35, II as inserted by section 1 of the bill by replacing line 2 with the following:
to do so, the attorney general may petition the superior court for the issuance of a temporary restraining
Amend RSA 339-G:35, V as inserted by section 1 of the bill by replacing line 2 with the following:
petition the superior court for a judicial order setting aside, limiting, or suspending the enforcement,
Amend RSA 6:46, I(i)-(j) as inserted by section 8 of the bill by replacing it with the following:
(i) Disclosure of size of accounts, size of transactions and administrative costs; [and]
(j) Disclosure of the amount of funds invested or deposited within the state of New Hampshire; and