SB 84-MONEY TRANSMISSION; VIRTUAL CURRENCY                                                                       
                                                                                                                                
1:38:03 PM                                                                                                                    
CHAIR BJORKMAN announced the consideration  of SENATE BILL NO. 84                                                               
"An Act relating to the  business of money transmission; relating                                                               
to  money  transmission  licenses,  licensure  requirements,  and                                                               
registration through  the Nationwide Multistate  Licensing System                                                               
and Registry; 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 and  enforcement of money transmission  laws; relating                                                               
to  money transmission  license exemptions;  relating to  payroll                                                               
processing  services; repealing  currency exchange  licenses; and                                                               
providing for an effective date."                                                                                               
                                                                                                                                
He stated that this is the third hearing of this bill.                                                                          
                                                                                                                                
1:38:40 PM                                                                                                                    
CHAIR BJORKMAN  opened public testimony  on SB 84;  finding none,                                                               
he closed public testimony.                                                                                                     
                                                                                                                                
CHAIR BJORKMAN solicited the will of the committee.                                                                             
                                                                                                                                
1:39:30 PM                                                                                                                    
SENATOR BISHOP  moved to  report SB  84, work  order 33-GS1312\A,                                                               
from  committee  with  individual  recommendations  and  attached                                                               
fiscal note(s).                                                                                                                 
                                                                                                                                
1:39:56 PM                                                                                                                    
CHAIR BJORKMAN  found no  objection and SB  84 was  reported from                                                               
the Senate Labor and Commerce Standing Committee.