Texas Finance Code - Section 151.303. Additional Qualifications
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§ 151.303. ADDITIONAL QUALIFICATIONS. In addition to the
general qualifications for licensure set forth in Section 151.202,
an applicant for a money transmission license must demonstrate to
the satisfaction of the commissioner that:
(1) the applicant has and will maintain the minimum
net worth required under Section 151.307;
(2) the applicant's financial condition will enable
the applicant to safely and soundly engage in the business of money
transmission; and
(3) the applicant does not engage in any activity or
practice that adversely affects the applicant's safety and
soundness.
Added by Acts 2005, 79th Leg., ch. 1099, § 1, eff. Sept. 1, 2005.
Section: 151.205 151.206 151.207 151.208 151.209 151.301 151.302 151.303 151.304 151.305 151.306 151.307 151.308 151.309 151.401
Last modified: August 10, 2007
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