Texas Finance Code

§ 152.059 — RELATIONSHIP TO FEDERAL LAW

FI § 152.059Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 152. REGULATION OF MONEY SERVICES BUSINESSES · Art. B. ADMINISTRATIVE PROVISIONS

Statute text

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(a)If state money transmission jurisdiction is conditioned in federal law, any inconsistency between a provision of this chapter and the federal law governing money transmission shall be governed by the applicable federal law to the extent of the inconsistency.

(b)In the event of any inconsistency between this chapter and federal law that governs under Subsection (a), the commissioner may provide interpretive guidance that:

(1)identifies the inconsistency; and

(2)prescribes the appropriate means of compliance with federal law.

Legislative history

Added by Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895), Sec. 1.01, eff. September 1, 2023.