New Hampshire Banking Department announcement regarding HB 1241 relating to money transmission regulation

On August 23, 2024, Governor Christopher T. Sununu signed HB 1241 into law. HB 1241 revises RSA chapter 399-G, the state law that governs money transmission in New Hampshire and the licensing and regulation of persons engaged in the business of money transmission in our state.

HB 1241 was drafted at the request of the Banking Department with input from stakeholders and industry experts to incorporate many aspects of the Conference of State Bank Supervisors (CSBS) Model Money Transmission Modernization Act.  

The bill shall take effect 60 days after its passage.  

Until RSA 399-G is updated on the New Hampshire General Court website, please refer to this link to view the final version of HB 1241 https://www.gencourt.state.nh.us/bill_status/billinfo.aspx?id=1287&inflect=2