Texas Finance Code
§ 152.101 — MONEY TRANSMISSION LICENSE REQUIRED
FI § 152.101Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 152. REGULATION OF MONEY SERVICES BUSINESSES · Art. C. MONEY SERVICES LICENSES
Statute text
View on source(a)A person may not engage in the business of money transmission or advertise, solicit, or hold itself out as engaging in the business of money transmission unless the person is licensed under this chapter.
(b)For the purposes of this chapter, a person engages in the business of money transmission if the person receives compensation or expects to receive compensation, directly or indirectly, for conducting money transmission.
(c)Subsection (a) does not apply to a person who:
(1)is an authorized delegate of a money transmission licensee acting within the scope of authority conferred by a written contract with the licensee;
(2)is exempt under Section 152.004 and does not engage in money transmission outside the scope of the applicable exemption; or
(3)has been granted an exemption under Subsection (e).
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Legislative history
Added by Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895), Sec. 1.01, eff. September 1, 2023.