Texas Finance Code

§ 278.001 — DEFINITIONS

FI § 278.001Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES · Ch. 278. REGULATION OF CURRENCY TRANSMISSIONS · Art. A. GENERAL PROVISIONS

Statute text

View on source

In this chapter:

(1)"Currency" has the meaning assigned by Section 152.003.

(2)"Currency transmission business" means engaging in or offering currency transmission as a service or for profit. The term does not include:

(A)a federally insured financial institution, as defined by Section 201.101, that is organized under the laws of this state, another state, or the United States; or

(B)a title insurance company or title insurance agent, as defined by Section 2501.003, Insurance Code.

(3)"Currency transmission" means receiving currency or an instrument payable in currency in order to transmit the currency or its equivalent by wire, computer modem, facsimile, physical transport, or any other means or through the use of a financial intermediary, the Federal Reserve System, or another funds transfer network.

…

Legislative history

Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.112, eff. September 1, 2005. Acts 2013, 83rd Leg., R.S., Ch. 988 (H.B. 2134), Sec. 17, eff. September 1, 2013. Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895), Sec. 2.04, eff. September 1, 2023.