152.403 – SUSPENSION AND REVOCATION OF MONEY SERVICES
Texas Finance Code § 152.403
Summary
This law outlines the conditions under which a money services license can be suspended or revoked by the commissioner. It primarily affects money services licensees and money transmission licensees who fail to meet security or net worth requirements.
Revocation occurs if security requirements are not met.
Money transmission licensees must maintain a minimum net worth.
The commissioner has discretion to suspend or revoke licenses.
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In simple terms: Learn about Texas's SUSPENSION AND REVOCATION OF 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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