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EXPLANATION-Matter enclosed in bold-faced brackets [thus] in this bill is not enacted
and is intended to be omitted in the law.
SECOND REGULAR SESSION
SENATE BILL NO. 1124
103RD GENERAL ASSEMBLY
INTRODUCED BY SENATOR SCHROER.
4962S.01I KRISTINA MARTIN, Secretary
AN ACT
To repeal section 361.972, RSMo, and to enact in lieu thereof two new sections relating to
prohibiting the transmission of money to unauthorized aliens within the state of
Missouri, with penalty provisions and a severability clause.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Section 361.972, RSMo, is repealed and two new 1
sections enacted in lieu thereof, to be known as sections 2
361.972 and 361.979, to read as follows:3
361.972. 1. A licensee shall maintain the following 1
records for determining its compliance with sections 361.900 2
to 361.1035 for at least three years: 3
(1) A record of each outstanding money transmission 4
obligation sold; 5
(2) A general ledger posted at least monthly 6
containing all asset, liability, capital, income, and 7
expense accounts; 8
(3) Bank statements and bank reconciliation records; 9
(4) Records of outstanding money transmission 10
obligations; 11
(5) Records of each outstanding money transmission 12
obligation paid within the three-year period; 13
(6) A list of the last known names and addresses of 14
all of the licensee's authorized delegates; [and] 15
(7) Records of: 16
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(a) The documentation used to verify that the sender 17
of a foreign remittance transfer is not an unauthorized 18
alien as such term is defined in section 361.979; 19
(b) Penalties paid pursuant to section 361.979, 20
including the date and amount of each foreign remittance 21
transfer and the name, date of birth, and address of each 22
sender; and 23
(8) Any other records the director reasonably requires 24
by rule. 25
2. The items specified in subsection 1 of this section 26
may be maintained in any form of record. 27
3. Records specified in subsection 1 of this section 28
may be maintained outside this state if the records are made 29
accessible to the director on seven business days' notice 30
that is sent in a record. 31
4. All records maintained by the licensee as required 32
in subsections 1 to 3 of this section are open to inspection 33
by the director under subsection 1 of section 361.921. 34
5. (1) For the purpose of enforcement of this 35
section, the division may at any time request, and the 36
licensee shall provide, records of documentation used to 37
verify that the sender of a foreign remittance transfer is 38
not an unauthorized alien. 39
(2) A person who has a good faith belief that a 40
licensee is failing to comply with section 361.979 may file 41
a complaint with the division. 42
(3) A person who knowingly files a false or frivolous 43
complaint under subdivision (2) of this subsection, 44
including any complaint that violates federal law, commits a 45
class B misdemeanor. 46
(4) Upon receipt of a valid complaint substantiated by 47
evidence of a violation of section 361.979, the division 48
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shall notify the licensee of the complaint and direct the 49
licensee to pay a penalty pursuant to section 361.979. 50
(5) In addition to the requirements under subdivision 51
(1) of this subsection, beginning July 1, 2027, the division 52
shall conduct random quarterly audits of licensees to ensure 53
compliance with section 361.979. During an audit, a 54
licensee shall produce records of the documentation used to 55
verify that each sender of a foreign remittance transfer is 56
not an unauthorized alien. A licensee that fails to comply 57
with section 361.979 is subject to the penalty pursuant to 58
such section. 59
(6) Failure to comply with subdivision (5) of this 60
subsection constitutes grounds for the suspension of all 61
licenses held by the licensee that were issued by the 62
division. 63
(7) The division may not audit a licensee more than 64
once every two years unless an audit within the last six 65
months found the licensee out of compliance with section 66
361.979. 67
361.979. 1. (1) A licensee shall not initiate a 1
foreign remittance transfer unless the licensee has verified 2
that the sender is not an unauthorized alien. 3
(2) As used in this section, the following terms mean: 4
(a) "Foreign remittance transfer", a remittance 5
transfer as defined in the Electronic Fund Transfer Act, 15 6
U.S.C. Section 1693o-1, as amended, the recipient of which 7
is located in any country other than the United States; and 8
(b) "Unauthorized alien", a person who is unlawfully 9
present in the United States according to the terms of the 10
federal Immigration and Nationality Act, 8 U.S.C. Section 11
1101, et seq. The term shall be interpreted consistently 12
with any applicable federal statutes, rules, or regulations. 13
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(3) The division shall adopt rules relating to 14
acceptable forms of documentation that a licensee shall use 15
to verify that the sender of a foreign remittance transfer 16
is not an unauthorized alien. The licensee shall provide 17
confirmation of verification on such forms as the division 18
may prescribe for this purpose. All required forms shall be 19
submitted to the division not later than the fifteenth day 20
of the month following the close of each calendar quarter. 21
2. A licensee shall pay a penalty equal to twenty-five 22
percent of the United States dollar amount transferred, 23
excluding any fees or charges imposed by the licensee, for 24
any foreign remittance transfer initiated in violation of 25
subsection 1 of this section. The licensee shall remit 26
penalties owed under this subsection quarterly to the 27
division in addition to any such forms as the division may 28
prescribe for such purpose. All required penalties and 29
forms shall be submitted to the division not later than the 30
fifteenth day of the month following the close of each 31
calendar quarter. Failure to comply with subsection 1 of 32
this section does not subject a licensee to any penalty 33
other than the penalty imposed by this subsection. 34
Section B. If any provision of section A of this act 1
or the application thereof to anyone or to any circumstance 2
is held invalid, the remainder of those sections and the 3
application of such provisions to others or other 4
circumstances shall not be affected thereby. 5
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