Prevention strategies on financial fraud; create a study committee.

Temporary committee to fight financial fraud

The law creates a 12-member committee to study how to prevent financial fraud and scams. Members include lawmakers, statewide officials, key agency heads, and the Mississippi Bankers Association. The act takes effect upon passage. Appointments must be made within 30 days after it takes effect. At its first meeting, the committee elects leaders and adopts rules. A majority is a quorum, and a majority of members present is needed to pass actions. The Secretary of State provides staff and support. State and local agencies must give facilities, help, information, and data when the chairman asks. The committee ends on or before January 1, 2027.