Tex. Fin. Code § 152.352 · Subchapter H. PRUDENTIAL STANDARDS
SECURITY FOR MONEY TRANSMISSION LICENSEE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A money transmission licensee shall at all times maintain security consisting of a surety bond in a form satisfactory to the commissioner. With the commissioner's approval, a money transmission licensee may maintain a deposit in lieu of a bond under this section.
(b) The amount of the required security for a money transmission licensee under this section is:
(1) for a licensee with a tangible net worth in an amount not greater than 10 percent of the licensee's total assets, the greater of:
(A) $100,000; or
(B) 100 percent of the licensee's average daily money transmission liability in this state for the most recently completed three-month period, up to a maximum amount of $500,000; or
(2) for a licensee with a tangible net worth in an amount greater than 10 percent of the licensee's total assets, $100,000.
(c) A money transmission licensee that maintains a bond in the maximum amount provided for under Subsection (b) may not be required to calculate the licensee's average daily money transmission liability in this state for purposes of this section.
(d) A money transmission licensee may exceed the maximum required bond amount under Section 152.356(a)(5).
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 e841f7d7f482b93d8153798a930339cdf62ab1ecf2d6c1ab0298b3419b35b16b
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 5 provisions
Provisions in this library whose text cites Tex. Fin. Code § 152.352. Each shows the citation as that text prints it.
Finance Code
- Tex. Fin. Code § 152.107MAINTENANCE OF LICENSE.Printed as Sections 152.351, 152.352, 152.354, and 152.355
- Tex. Fin. Code § 152.108SURRENDER OF LICENSE.Printed as Section 152.352 or 152.353
- Tex. Fin. Code § 152.152STREAMLINED ACQUISITION OF CONTROL.Printed as Sections 152.351, 152.352, 152.354, and 152.355
- Tex. Fin. Code § 152.354ADDITIONAL SECURITY REQUIREMENTS.Printed as Section 152.352 or 152.353
- Tex. Fin. Code § 152.356TYPES OF PERMISSIBLE INVESTMENTS.Printed as Section 152.352
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.