Business and Financial Institutions

HB 1596 requires licensed money transmitters (including virtual currency kiosks) in Mississippi to implement specific data security measures to protect customer information. Key provisions include mandating an information security program with a designated responsible individual, requiring risk assessments, and obligating licensees to notify the Commissioner of Banking and Consumer Finance if unencrypted customer data is acquired without authorization. The bill also requires licensees to provide training to recognize financial abuse of elders and disclose specific transaction details to customers. These measures directly affect money transmitters and their customers by strengthening data protection and transparency in financial transactions.

HB 1625 requires businesses operating cash-to-virtual-currency kiosks in Mississippi to obtain a license under the state's Money Transmission Modernization Act. The bill mandates that kiosk operators provide clear written disclosures about transaction risks, issue receipts to customers, and adhere to daily transaction and fee limits. It defines key terms like "virtual currency kiosk" (stand-alone machines for cash-to-virtual-currency exchanges) and "operator" (businesses managing such kiosks), while prohibiting misleading signage like "ATM." The law directly affects kiosk operators by bringing their activities under existing money transmitter regulations, without altering consumer access to virtual currency services.

HB 1150 merges Mississippi's separate licensure systems for land surveyors and professional engineers into a single licensing framework under the "Board of Licensure for Professional Engineers and Surveyors." The bill revises qualifications, increases application and renewal fees for both professions, and creates new provisions allowing surveyors to legally access land for surveys without trespass liability (Section 73-13-47). It directly affects current and future licensed land surveyors, who must now obtain licensure through the combined board, and replaces all existing land surveyor licensing statutes (Sections 73-13-71 through 73-13-105). The key mechanism is consolidating regulatory oversight while adding specific protections for surveyors' fieldwork.

HB 1265 extends the repeal date of Mississippi's Debt Management Services Act from 2025 to 2030. This delays when the entire law will expire, keeping the current regulations in effect for another five years. The bill directly affects debt management service providers operating in Mississippi who must comply with existing licensing and operational requirements under the Act. The key mechanism is simply changing the sunset date in Section 81-22-31 of the Mississippi Code, without altering the substance of the regulations.

Notified of Approval