Texas Finance Code
§ 152.403 — SUSPENSION AND REVOCATION OF MONEY SERVICES LICENSE
FI § 152.403Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 152. REGULATION OF MONEY SERVICES BUSINESSES · Art. I. ENFORCEMENT
Statute text
View on source(a)The commissioner shall revoke a money services license if the commissioner finds that:
(1)the money services licensee does not provide the security required under this chapter; or
(2)for a money transmission licensee, the net worth of the licensee is less than the amount required under this chapter.
(b)The commissioner may suspend or revoke a money services license or order a money transmission licensee to revoke the designation of an authorized delegate if the commissioner has reason to believe that:
(1)the money services licensee has violated this chapter, a rule adopted or order issued under this chapter, a written agreement entered into with the department or commissioner, or any other state or federal law applicable to the licensee's money services business;
(2)the money services licensee has refused to permit or has not cooperated with an examination or investigation authorized by this chapter;
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Legislative history
Acts 2025, 89th Leg., R.S., Ch. 642 (H.B. 3833), Sec. 10, eff. September 1, 2025.