Court Opinions

State Laws

US Code

US Constitution

Texas Finance Code - Section 151.203. Application For License

Legal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Section 151.203. Application For License

§ 151.203. APPLICATION FOR LICENSE.  (a) An application 
for a license under this chapter must be made under oath and in the 
form and medium required by the commissioner.  The application must 
contain:
		(1)  the legal name and residential and business 
address of the applicant and each principal of the applicant;
		(2)  the taxpayer identification number, social 
security number, driver's license number, or other identifying 
information the commissioner requires of the applicant and each 
principal of the applicant;  and
		(3)  any other information or documentation the 
commissioner reasonably requires to determine whether the 
applicant qualifies for and should be issued the license for which 
application is made.
	(b)  The commissioner, at the time the application is 
submitted or in connection with an investigation of the application 
under Section 151.204, may require the applicant, the spouse of the 
applicant, a principal of, individual who is a person in control of, 
or proposed responsible individual of the applicant, or any other 
individual associated with the applicant and the proposed licensed 
activities, to provide the department a complete set of 
fingerprints for purposes of a criminal background investigation.
	(c)  An applicant must certify in writing on the application 
that the applicant and each principal of, person in control of, and 
proposed responsible individual of the applicant:
		(1)  is familiar with and agrees to fully comply with 
all applicable state and federal laws and regulations pertaining to 
the applicant's proposed money services business, including this 
chapter, relevant provisions of the Bank Secrecy Act, the USA 
PATRIOT ACT, and Chapter 271;
		(2)  has not within the preceding three years knowingly 
failed to file or evaded the obligation to file a report, including 
a currency transaction or suspicious activity report required by 
the Bank Secrecy Act, the USA PATRIOT ACT, or Chapter 271;  and
		(3)  has not knowingly accepted money for transmission 
or exchange in which a portion of the money was derived from an 
illegal transaction or activity.
	(d)  The commissioner may waive an application requirement 
or permit the submission of substituted information in lieu of the 
information generally required in an application, either with 
respect to a specific applicant or a category of applicants, if the 
commissioner determines that the waiver or substitution of 
information is consistent with achievement of the purposes of this 
chapter.

Added by Acts 2005, 79th Leg., ch. 1099, § 1, eff. Sept. 1, 2005.          

Last modified: August 10, 2007