FIRST REGULAR SESSION
94TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES AVERY (Sponsor), PRATT, MUSCHANY, MOORE AND LEMBKE (Co-sponsors).
Read 1st time January 11, 2007 and copies ordered printed.
D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To amend chapter 361, RSMo, by adding thereto one new section relating to additional powers of the director of finance.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 361, RSMo, is amended by adding thereto one new section, to be known as section 361.610, to read as follows:
361.610. 1. The director of finance shall provide for a procedure to assist any financial institution, including but not limited to a bank, trust company, loan and investment company, savings and loan association, or credit union to prevent transactions involving the use of such financial institution's instruments, including but not limited to credit cards, in online or internet gambling. Such transactions include but are not limited to credit extensions, electronic fund transfers, any instrument, including a check, draft, or similar instrument, drawn by or on behalf of another and payable through any financial institution, or the proceeds of any other form of financial transaction involving a financial institution as payer or financial intermediary on behalf of another person.
2. The director shall promulgate rules to implement the provisions of this section. Any rule or portion of a rule, as that term is defined in section 536.010, RSMo, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536, RSMo, and, if applicable, section 536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536, RSMo, to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2007, shall be invalid and void.
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