Tex. Fin. Code Section 152.205
Reports of Certain Events

(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.
Added by Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895), Sec. 1.01, eff. September 1, 2023.

Source: Section 152.205 — Reports of Certain Events, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­152.­htm#152.­205 (accessed May 18, 2024).

152.001
Short Title 152.002
Purpose 152.003
Definitions 152.004
Exemptions 152.005
Authority to Require Demonstration of Exemption 152.006
Centralized Digital Currency Prohibited 152.051
Administration 152.052
Rules 152.053
Implementation 152.054
Commissioner’s General Authority 152.055
Confidentiality 152.056
Investigations 152.057
Supervision 152.058
Networked Supervision 152.059
Relationship to Federal Law 152.060
Consent to Service of Process 152.061
Presumption of Control 152.101
Money Transmission License Required 152.102
Currency Exchange License Required 152.103
Consistent State Licensing 152.104
Application for Money Services License 152.105
Information Requirements for Certain Individuals 152.106
Issuance of License 152.107
Maintenance of License 152.108
Surrender of License 152.109
Refund of Fee or Cost Paid by Money Services Licensee 152.151
Acquisition of Control 152.152
Streamlined Acquisition of Control 152.153
Notice and Information Requirements for Change of Key Individuals 152.201
Money Transmission Report 152.202
Currency Exchange Report 152.203
Financial Statements 152.204
Authorized Delegate Reporting 152.205
Reports of Certain Events 152.206
Bank Secrecy Act Reports 152.207
Records 152.251
Liability of Money Transmission Licensee 152.252
Relationship Between Money Transmission Licensee and Authorized Delegate 152.253
Disclosure Requirements 152.254
Unauthorized Activities 152.301
Timely Transmission 152.302
Refunds 152.303
Receipts 152.304
Disclosures for Payroll Processing Services 152.351
Net Worth of Money Transmission Licensee 152.352
Security for Money Transmission Licensee 152.353
Security for Currency Exchange Licensee 152.354
Additional Security Requirements 152.355
Maintenance of Permissible Investments by Money Transmission Licensee 152.356
Types of Permissible Investments 152.401
Injunctive Relief 152.402
Cease and Desist Orders for Unlicensed Persons 152.403
Suspension and Revocation of Money Services License 152.404
Suspension and Revocation of Authorized Delegate Designation 152.405
Cease and Desist Orders for Money Services Licensee or Authorized Delegate 152.406
Consent Orders 152.407
Administrative Penalty 152.408
Criminal Penalty 152.409
Notice, Hearing, and Other Procedures for Nonemergency Orders 152.410
Requirements and Notice and Hearing Procedures for Emergency Orders 152.451
Administrative Procedures
Green check means up to date. Up to date

Accessed:
May 18, 2024

§ 152.205’s source at texas​.gov