2025-03-10                     Senate Journal                      Page 0467
SB 86                                                                                                                         
The Labor and Commerce Committee considered SENATE BILL                                                                         
NO. 86 "An Act relating to the business of money transmission;                                                                  
relating to licenses for money transmission, licensure requirements,                                                            
and registration through a nationwide multistate licensing system;                                                              
relating to the use of virtual currency for money transmission; relating                                                        
to authorized delegates of a licensee; relating to acquisition of control                                                       
of a license; relating to record retention and reporting requirements;                                                          
authorizing the Department of Commerce, Community, and Economic                                                                 
Development to cooperate with other states in the regulation of money                                                           
transmission; relating to permissible investments; relating to violations                                                       

2025-03-10                     Senate Journal                      Page 0468
and enforcement of money transmission laws; relating to exemptions                                                              
to money transmission licensure requirements; relating to payroll                                                               
processing services; relating to currency exchange licenses; amending                                                           
Rules 79 and 82, Alaska Rules of Civil Procedure; and providing for                                                             
an effective date."                                                                                                             
                                                                                                                                
Signing do pass: Senator Bjorkman, Chair; Senators Dunbar, Yundt.                                                               
                                                                                                                                
The following fiscal information was published today:                                                                           
          Fiscal Note No. 1, Department of Commerce, Community, and                                                            
          Economic Development                                                                                                  
                                                                                                                                
The bill was referred to the Finance Committee.