SECOND REGULAR SESSION
HOUSE BILL NO. 1394
94TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES DUSENBERG (Sponsor), BROWN (30), ERVIN, RUESTMAN, FISHER AND YATES (Co-sponsors).
Pre-filed December 11, 2007 and copies ordered printed.
D. ADAM CRUMBLISS, Chief Clerk
To amend chapter 392, RSMo, by adding thereto one new section relating to money transmissions.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 392, RSMo, is amended by adding thereto one new section, to be known as section 392.178, to read as follows:
392.178. 1. As used in this section, the following terms shall mean:
(1) "Money transmission", to engage in the business of the sale or issuance of payment instruments or of receiving money for transmission to a location within or outside of the United States by wire, facsimile, electronic means, or any other means;
(2) "Payment instrument", any electronic or written check, draft, money order, travelers check, or other electronic or written instrument or order for the transmission or payment of money, sold or issued to one or more persons, whether or not such instrument is negotiable;
(3) "Person", any individual, partnership, association, trust, corporation, or any other form of business enterprise authorized to do business in this state.
2. Any person engaging in money transmissions or who receives money for such transmissions to foreign countries shall require proof of United States citizenship or proof of lawful presence in the United States from those individuals or entities using such services. Such proof shall consist only of a valid identification document that is included on the list of acceptable documents of Employment Eligibility Verification Form I-9 of the federal Department of Homeland Security as proof of lawful presence in the United States.