Revises internal references related to money transmission services in Michigan's Consumer Financial Services Act.

This bill amends section 10g of the Michigan Consumer Financial Services Act to revise internal references related to money transmission services. It updates definitions and procedures for notices and orders issued by the commissioner regarding fraud and money laundering, ensuring consistency and clarity in the act. The changes include specifying the effective dates of notices and orders, the conditions under which they can be stayed or modified, and the process for applying to terminate an order after five years.

Revises internal references related to money transmission services in Michigan's Consumer Financial Services Act.

This bill amends section 10g of the Michigan Consumer Financial Services Act to revise internal references related to money transmission services. It updates definitions and procedures for notices and orders issued by the commissioner regarding fraud and money laundering, ensuring consistency and clarity in the act. The changes include specifying the effective dates of notices and orders, the conditions under which they can be stayed or modified, and the process for applying to terminate an order after five years.