152.203 – FINANCIAL STATEMENTS. (a) A money services
Texas Finance Code § 152.203
Summary
This law requires money services licensees to file audited financial statements annually within 90 days after their fiscal year ends. It applies to both money transmission licensees and currency exchange licensees, ensuring transparency and compliance with accounting standards.
Licensees must file financial statements annually within 90 days.
Statements must be audited and comply with GAAP.
Applies to both money transmission and currency exchange licensees.
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In simple terms: Learn about Texas's FINANCIAL STATEMENTS. (a) A money services 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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