Tex. Fin. Code § 152.205 · Subchapter E. REPORTING AND RECORDS
REPORTS OF CERTAIN EVENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A money services licensee shall file a report with the commissioner not later than the first business day after the licensee has reason to know of:
(1) the filing of a petition by or against the licensee under the United States Bankruptcy Code (11 U.S.C. Sections 101-1532) for bankruptcy or reorganization;
(2) the filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for the licensee's dissolution or reorganization, or the making of a general assignment for the benefit of the licensee's creditors; or
(3) the commencement of a proceeding to revoke or suspend the licensee's license in a state or country in which the licensee engages in or is licensed to engage in money services business.
(b) A money services licensee shall file a report with the commissioner not later than the third business day after the licensee has reason to know of the occurrence of a felony charge or conviction of:
(1) the licensee or a key individual;
(2) a person in control of the licensee; or
(3) an authorized delegate.
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 4c53b1ada700555ea480f918733edc4e1de190ad078424eaabf6736334474d12
- 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.