summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
For legislation to create a Investment Gift Card Reserve System Act. State Administration and Regulatory Oversight.
AI Summary
This bill establishes the Investment Gift Card Reserve System Act, which authorizes the creation of a system to regulate and manage the issuance, retail, and transfer of investment gift cards. The key provisions include providing unlimited treasury notes to fund the system, establishing a policy to regulate access and coverage for various entities (such as banks, brokerages, and individuals), and setting up a monetary reserve system for the retail purchase and clearing of cash deposited into investment gift card accounts. The bill is intended to consolidate the time and expense involved in the administration of investment gift cards and is declared an emergency law to take effect on June 1, 2017.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Accompanied a study order, see H4481 (on 05/10/2018)
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://malegislature.gov/Bills/190/S1805 |
| Bill | https://malegislature.gov/Bills/190/S1805.pdf |
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