Louisiana legislation · 2026 Regular Session
Louisiana HB1230: COMMERCIAL REGULATIONS: Provides relative to the Louisiana Money Transmission Act
Status: Signed into law, June 9, 2026
What the bill says
An act To amend and reenact Chapter 13 of the of Title 6 of the Louisiana Revised Statutes of 1950, to be comprised of R.S. 6:1031 through 1072, relative to the Louisiana Money Transmission Act; to provide for a short title; to provide for a purpose; to provide definitions; to provide exemptions under certain circumstances; to require information and documentation in order qualify for an exemption; to provide for record keeping; to provide for applications for and the issuance, renewal, and maintenance of licenses; to provide for implementation and rule promulgation…
From the introduced text:
AN ACT To amend and reenact Chapter 13 of the of Title 6 of the Louisiana Revised Statutes of 1950, to be comprised of R.S. 6:1031 through 1072, relative to the Louisiana Money Transmission Act; to provide for a short title; to provide for a purpose; to provide definitions; to provide exemptions under certain circumstances; to require information and documentation in order qualify for an exemption; to provide for record keeping; to provide for applications for and the issuance, renewal, and maintenance of licenses; to provide for implementation and rule promulgation; to provide for consistent licensing between states; to provide for notice and information requirements for changing key individuals; to require reporting; to require auditing of finances; to provide for certain unauthorized and prohibited activities; to provide for permissible investments; to provide for suspension and revocation of licenses under certain circumstances; to provide for license and notice revocation hearings; to provide for penalties; and to provide for related matters. Be it enacted by the Legislature of Louisiana: Section 1. Section 2 of this Act amends and reenacts Chapter 13 of Title 6 of the Louisiana Revised Statutes of 1950 in its entirety. Due to the length of the Chapter, present law is not included as overstruck text. Section 2. Chapter 13 of Title 6 of the Louisiana Revised Statutes of …