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2014 SESSION

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HB 1026 Check cashers; recordkeeping requirements, civil penalty.

Introduced by: Riley E. Ingram | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Check cashers; recordkeeping requirements; civil penalty. Requires each registered check casher to make copies of, or maintain a record of information from, each item cashed and the customer's identification document prior to cashing the item. Records for each transaction are required to be retained for six months. A violation of these requirements is punishable by a civil penalty not to exceed $100. The measure does not apply to registered check cashers that are principally engaged in the bona fide retail sale of goods or services.

SUMMARY AS PASSED HOUSE:

Check cashers; recordkeeping requirements; civil penalty. Requires each registered check casher to make copies of, or maintain a record of information from, each item cashed and the customer's identification document prior to cashing the item. Records for each transaction are required to be retained for six months. A violation of these requirements is punishable by a civil penalty not to exceed $100.

SUMMARY AS INTRODUCED:

Check cashers; recordkeeping requirements; civil penalty. Requires each registered check casher to make copies of each item cashed and the customer's identification document prior to cashing the item. Records for each transaction are required to be retained for one year and made available to law-enforcement officials. A violation of these requirements is punishable by a civil penalty not to exceed $100.