Tex. Fin. Code § 152.061 · Subchapter B. ADMINISTRATIVE PROVISIONS
PRESUMPTION OF CONTROL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A person is presumed to exercise a controlling influence over a money services licensee if the person holds the power to directly or indirectly vote not less than 10 percent of the outstanding voting shares or voting interests of a money services licensee or person in control of a money services licensee.
(b) The presumption under Subsection (a) may be rebutted by evidence that the person who is presumed to exercise a controlling influence under Subsection (a) is a passive investor.
(c) For purposes of determining the percentage of a money services licensee controlled by a person, the person's interest shall be aggregated with the interest of any person:
(1) related within the second degree of consanguinity or affinity, other than a person's grandparent or grandchild; or
(2) who shares the person's home.
Notes and commentary — not statutory text
History
Added by Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895), Sec. 1.01, eff. September 1, 2023.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.152.htm
- Text hash
- sha256 50917118d9abcfaffe080792973abfd49342887417e07514d5919a4e375a4c6e
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.