Texas Finance Code
§ 152.412 — REMOVAL OR PROHIBITION ORDERS IN RESPONSE TO CERTAIN CRIMINAL OFFENSES
FI § 152.412Title 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)For purposes of this section, a person is considered to have been finally convicted of an offense if the person's case is not subject to further appellate review and:
(1)a sentence was imposed on the person;
(2)the person received probation or community supervision, including deferred adjudication community supervision; or
(3)the court deferred final disposition of the person's case.
(b)The commissioner may remove or prohibit a current or former key individual or employee of a money services licensee from office or employment in, or prohibit a control person or other person participating in the affairs of a money services licensee from further participation in the affairs of a money services licensee, or any other entity chartered, registered, permitted, or licensed by the commissioner if the person has been finally convicted of a felony offense involving:
(1)a business engaged in money services;
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Legislative history
Added by Acts 2025, 89th Leg., R.S., Ch. 447 (H.B. 3805), Sec. 1, eff. June 20, 2025.