SENATE DOCKET, NO. 1786        FILED ON: 1/20/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1805

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Bruce E. Tarr, (BY REQUEST)

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act Investment Gift Card Reserve System Act.

_______________

PETITION OF:

 

Name:

District/Address:

Joseph Toolan

Joseph Toolan Lobby 71 Pine Ridge Rd. North Andover, MA 01845 josabitoolan@yahoo.com


SENATE DOCKET, NO. 1786        FILED ON: 1/20/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1805

By Mr. Tarr (by request), a petition (accompanied by bill, Senate, No. 1805) of Joseph Toolan for legislation to create a Investment Gift Card Reserve System Act.  State Administration and Regulatory Oversight.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninetieth General Court
(2017-2018)

_______________

 

An Act Investment Gift Card Reserve System Act.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Emergency Preamble-

“Whereas, the deferred operation of this act would tend to defeat its purpose, which is forthwith to consolidate time and expense involved in the administration of Investment Gift Cards, therefore, it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience."

Investment Gift Card Reserve System Act Trust and its appointed commissioner is authorized to provide unused and unlimited treasury notes by the treasury on an ongoing basis for the following facilities and services:

Policy to provide system of regulation for unlimited access, coverage and accommodations for the commonwealth of Massachusetts, United States, Federal Reserve System, worldwide-banks, brokerages, corporations, persons, lenders and collectors who seek to commission to manage, issue, retail and transfer investments using Investment Gift Cards.

*Investment Gift Cards provide a monetary reserve system for retail purchase and clearing of point of service deposited cash in Investment Gift Card accounts. 

To be signed into law before May 1,2017 and to take effect on June 1, 2017 [$unlimited]