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Bill > SB860
TX SB860
TX SB860Relating to the creation of a regulatory sandbox program administered by the attorney general for certain financial products and services; authorizing a fee.
summary
Introduced
02/15/2019
02/15/2019
In Committee
03/01/2019
03/01/2019
Crossed Over
Passed
Dead
05/27/2019
05/27/2019
Introduced Session
86th Legislature Regular Session
Bill Summary
Relating to the creation of a regulatory sandbox program administered by the attorney general for certain financial products and services; authorizing a fee.
AI Summary
This bill creates a regulatory sandbox program administered by the Texas Attorney General's office. The program allows for the testing of certain innovative financial products and services, such as consumer loans, money transmission, retail installment transactions, and investment advisory services, without requiring the person to obtain a license or registration. The program has various consumer protection provisions, including required disclosures and limits on the number of consumers that can participate. The program is set to expire on December 31, 2029.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to Business & Commerce (on 03/01/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://capitol.texas.gov/BillLookup/History.aspx?LegSess=86R&Bill=SB860 |
| BillText | https://capitol.texas.gov/tlodocs/86R/billtext/html/SB00860I.htm |
| Bill | https://capitol.texas.gov/tlodocs/86R/billtext/pdf/SB00860I.pdf |
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