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Texas Finance Code - FIN § 152.201. Money Transmission Report

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

(a) Each money transmission licensee shall submit a report of condition not later than the 45th day after the end of the calendar quarter, or within an extended time as the commissioner may prescribe.

(b) The report of condition must include:

(1) the licensee's financial information;

(2) nationwide and state-specific money transmission services transaction information in every jurisdiction in the United States where the licensee is licensed to engage in money transmission;

(3) a report on the licensee's permissible investments;

(4) transaction destination country reporting for money received for transmission, if applicable;  and

(5) any other information the commissioner reasonably requires with respect to the licensee.

(c) The commissioner may:

(1) use the NMLS for the submission of the report required by this section;  and

(2) change or update the requirements of this section as necessary to carry out the purposes of this chapter and maintain consistency with NMLS reporting.

(d) The information required by Subsection (b)(4) may only be included in a report of condition submitted not later than the 45th day after the end of the fourth calendar quarter.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 152.201. Money Transmission Report - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-152-201/

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