Missouri HB2412: Prohibits the foreign remittance transfer of funds to unauthorized aliens

What the bill says

To amend chapter 361, RSMo, by adding thereto four new sections relating to foreign remittance transfers, with penalty provisions. Section A. Chapter 361, RSMo, is amended by adding thereto four new sections, to be known as sections 361.1040, 361.1042, 361.1044, and 361.1046, to read as follows: 361.1040. As used in sections 361.1040 to 361.1046, the following terms (2) "Division", the division of finance of the department of commerce and insurance; (3) "Foreign remittance transfer", a remittance transfer as defined in the Electronic Fund Transfer Act, 15 U.S.C. Section 1693o-1, as amended, th.

From the amended text:

To amend chapter 361, RSMo, by adding thereto four new sections relating to foreign remittance transfers, with penalty provisions. Section A. Chapter 361, RSMo, is amended by adding thereto four new sections, to be known as sections 361.1040, 361.1042, 361.1044, and 361.1046, to read as follows: 361.1040. As used in sections 361.1040 to 361.1046, the following terms (2) "Division", the division of finance of the department of commerce and insurance; (3) "Foreign remittance transfer", a remittance transfer as defined in the Electronic Fund Transfer Act, 15 U.S.C. Section 1693o-1, as amended, the recipient of which is located in any country other than the United States; (4) "Licensee", a person licensed under sections 361.900 to 361.1035; (5) "Person", any individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation, or other corporate entity identified by the director of the division; (6) "Unauthorized alien", a person who is unlawfully present in the United States according to the terms of the federal Immigration and Nationality Act, 8 U.S.C. Section 1101, et seq. The term shall be interpreted consistently with any applicable federal statutes, rules, or regulations. 361.1042. 1. In addition to the requirements specified under sections 361.900 to 361.1035, a licensee shall not initiate a foreign remittance transfer unless the licensee has verified that the sender is not an …

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