Texas Finance Code
§ 152.108 — SURRENDER OF LICENSE
FI § 152.108Title 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 money services licensee may surrender the licensee's license by delivering the original license to the commissioner along with a written notice of surrender that includes the location at which the licensee's records will be stored and the name, address, telephone number, and other contact information for an individual who is authorized to provide access to the records.
(b)A money services licensee shall surrender the licensee's license under this section if the licensee becomes ineligible for a license issued under this chapter.
(c)The surrender of a license does not reduce or eliminate a money services licensee's civil or criminal liability arising from any acts or omissions before the surrender of the license, including any administrative action undertaken by the commissioner to revoke or suspend a license, assess an administrative penalty, order the payment of restitution, or exercise any other authority under this chapter. Further, the surrender of a license does not release the security required of a licensee under Section 152.352 or 152.353.
Legislative history
Added by Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895), Sec. 1.01, eff. September 1, 2023.