Senate Bills 1045, 1118 and 1130

Committee Meeting

Tuesday, October 22, 2013
10 a.m.
Room 461

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SB1045 (White) – Amends the Pennsylvania Securities Act of 1972. The Act must be updated and clarified to reflect changes necessitated by the merger of the Securities Commission into the Department of Banking, and to be more consistent with appropriate sections of the Uniform Securities Act, federal securities law, and state regulations currently in place.
Amendment– Corrects drafting errors.

SB1118 (Brubaker) – Amends the Check Casher Licensing Act of 1998 to lower the fee for cashing a government issued check; to require the public posting of fees for cashing the check; and to all for recovery of losses due to fraudulent misrepresentation.

SB1130 (Ward) – Repeals a requirement that the General Assembly be furnished with a print copy of an annual report required under the Flood Insurance Education and Information Act of 1996.
Amendment – Clarifies that this bill abolishes the annual report completely.