This law requires money transmission licensees to prove they have sufficient permissible investments before their letter of credit expires. The commissioner must be satisfied with this demonstration at least 15 days prior to expiration. Failure to comply can have significant implications for the licensee's operations.
Licensees must show permissible investments before letter of credit expiration.
Demonstration must occur at least 15 days prior to expiration.
Non-compliance can affect the licensee's ability to operate.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's to the extent specified: law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.