SB 5318-S2 - DIGEST

(DIGEST AS ENACTED)

      Specifies the elements of the crime of money laundering.

      Imposes additional proof requirements when licensed attorneys are representing a client.

      Provides that money laundering is a class B felony.

      Provides civil penalties for violation of the act.

      Declares that the proceeds of unlawful activity shall be forfeited, and no property rights exist in those proceeds.

      Establishes recordkeeping requirements.

      Establishes distribution provisions for proceeds from seized property.