Skip to main content
Find a Lawyer

Texas Finance Code - FIN § 152.101. Money Transmission License Required

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A person may not engage in the business of money transmission or advertise, solicit, or hold itself out as engaging in the business of money transmission unless the person is licensed under this chapter.

(b) For the purposes of this chapter, a person engages in the business of money transmission if the person receives compensation or expects to receive compensation, directly or indirectly, for conducting money transmission.

(c) Subsection (a) does not apply to a person who:

(1) is an authorized delegate of a money transmission licensee acting within the scope of authority conferred by a written contract with the licensee;

(2) is exempt under Section 152.004 and does not engage in money transmission outside the scope of the applicable exemption; or

(3) has been granted an exemption under Subsection (e).

(d) A license issued under Section 152.106 is not transferable or assignable.

(e) On receiving an application and finding that the exemption is in the public interest, the commissioner may exempt a person who:

(1) incidentally engages in the business of money transmission only to the extent reasonable and necessary to accomplish a primary business objective unrelated to the business of money transmission;

(2) does not advertise or offer money transmission to the public except to the extent reasonable and necessary to fairly advertise or offer the person's primary business services; and

(3) transmits money without a fee as an inducement for customer participation in the person's primary business.

(f) In accordance with the investigation provisions of this chapter, the commissioner may examine a person to verify the person's exempt status under Subsection (e).

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Texas Finance Code - FIN § 152.101. Money Transmission License Required - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-152-101/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard