House Bill 850

An Act amending the act of September 2, 1965 (P.L.490, No.249), referred to as the Money Transmission Business Licensing Law, further providing for title of act, for definitions, for license required and for exemptions; repealing provisions relating to partial exemption; further providing for qualifications for a license, for application for license, for fee, financial statement and security, for investigation issuance of license, for term of license, for renewal of licenses and for authority of the Department of Banking; providing for suspension, revocation or refusal and for licensee requirements; further providing for agents and subagents; repealing provisions relating to hearing and appeal, injunctions, rules and regulations and examinations by the Secretary of Banking; and further providing for penalties.