Texas Finance Code

§ 152.152 — STREAMLINED ACQUISITION OF CONTROL

FI § 152.152Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 152. REGULATION OF MONEY SERVICES BUSINESSES · Art. D. ACQUISITION OF CONTROL AND CHANGE OF KEY INDIVIDUAL

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(a)The requirements of Section 152.151 do not apply to a person who has complied with and received approval to engage in money services under this chapter or was identified as a person in control in a previous application filed with and approved by the commissioner or by an MSB-accredited state under a multistate licensing process, provided that:

(1)the person has not:

(A)had a money services license revoked or suspended; or

(B)controlled a money services licensee that has had a money services license revoked or suspended while the person was in control of the licensee in the previous five years;

(2)if the person is a money services licensee, the person:

(A)is well managed; and

…

Legislative history

Acts 2025, 89th Leg., R.S., Ch. 642 (H.B. 3833), Sec. 4, eff. September 1, 2025.