SENATE DOCKET, NO. 1176        FILED ON: 1/19/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 548

The Commonwealth of Massachusetts

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PRESENTED BY:

Jason M. Lewis

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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 permitting provisional licensure for financial services.

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PETITION OF:

SENATE DOCKET, NO. 1176        FILED ON: 1/19/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 548

The Commonwealth of Massachusetts

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

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An Act permitting provisional licensure for financial services.

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

SECTION 1. Section 204 of Chapter 110A of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by inserting after subsection (f) the following subsection:-

(g) While the secretary reviews past penalties and enforcement orders as described in paragraph (f) , the secretary shall issue provisional licenses for applicants whose past 5-year record includes fines of less than $25,000 and suspensions of less than 1 month. The secretary shall use the discretion of their office in issuing provisional licenses for applicants who in the past 5 years have on their record suspensions greater than 1 month or greater than $25,000 in financial penalties. Upon completion of the review of the Secretary, any provisional license so issued shall be terminated and a final license determination shall be issued.