152.151[2/2] – ACQUISITION OF CONTROL. (a) A person or group
Texas Finance Code § 152.151[2/2]
Summary
This law outlines the process for a proposed person or group seeking control over a money services licensee. If the commissioner finds that the applicant does not meet the necessary qualifications, they will issue a denial, which can be appealed within 30 days.
Commissioner evaluates qualifications of proposed control persons.
Denial of application must be communicated in writing.
Appeals can be filed within 30 days of denial.
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In simple terms: Learn about Texas's ACQUISITION OF CONTROL. (a) A person or group law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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