Texas Finance Code - Section 151.105. Regulatory Cooperation
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§ 151.105. REGULATORY COOPERATION. (a) To efficiently
and effectively administer and enforce this chapter and to minimize
regulatory burden, the commissioner may cooperate, coordinate, and
share information with another state, federal, or foreign
governmental agency that:
(1) regulates or supervises persons engaged in money
services businesses or activities subject to this chapter; or
(2) is authorized to investigate or prosecute
violations of a state, federal, or foreign law related to persons
engaged in money services businesses or activities subject to this
chapter, including a state attorney general's office.
(b) The commissioner, with respect to an agency described by
and for the purposes set forth in Subsection (a), may:
(1) enter into a written cooperation, coordination, or
information-sharing contract or agreement with the agency;
(2) share information with the agency, subject to the
confidentiality provisions of Section 151.606(b)(3);
(3) conduct a joint or concurrent on-site examination
or other investigation or enforcement action with the agency;
(4) accept a report of examination or investigation
by, or a report submitted to, the agency, in which event the
accepted report is an official report of the commissioner for all
purposes;
(5) engage the services of the agency to assist the
commissioner in performing or discharging a duty or responsibility
imposed by this chapter or other law and pay a reasonable fee for
the services;
(6) share with the agency any supervisory or
examination fees assessed against a license holder or authorized
delegate under this chapter and receive a portion of supervisory or
examination fees assessed by the agency against a license holder or
authorized delegate; and
(7) take other action as the commissioner considers
reasonably necessary or appropriate to carry out and achieve the
purposes of this chapter.
(c) The commissioner may not waive, and nothing in this
section constitutes a waiver of, the commissioner's authority to
conduct an examination or investigation or otherwise take
independent action authorized by this chapter or a rule adopted or
order issued under this chapter to enforce compliance with
applicable state or federal law.
(d) A joint examination or investigation, or acceptance of
an examination or investigation report, does not waive an
examination assessment provided for in this chapter.
(e) Chapter 2254, Government Code, does not apply to a
contract or agreement entered into under this section.
Added by Acts 2005, 79th Leg., ch. 1099, § 1, eff. Sept. 1, 2005.
Section: 151.001 151.002 151.003 151.101 151.102 151.103 151.104 151.105 151.106 151.201 151.202 151.203 151.204 151.205 151.206
Last modified: August 10, 2007
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