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Texas Finance Code - Section 271.001. Reporting Requirement For Crimes And Suspected Crimes And Currency And Foreign Transactions

Legal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Section 271.001. Reporting Requirement For Crimes And Suspected Crimes And Currency And Foreign Transactions

§ 271.001. REPORTING REQUIREMENT FOR CRIMES AND SUSPECTED 
CRIMES AND CURRENCY AND FOREIGN TRANSACTIONS.  (a) A financial 
institution that is required to file a report with respect to a 
transaction in this state under the Currency and Foreign 
Transactions Reporting Act (31 U.S.C. Section 5311 et seq.), 31 
C.F.R. Part 103, or 12 C.F.R. Section 21.11, and their subsequent 
amendments, shall file a copy of the report with the attorney 
general.
	(b)  A financial institution that timely files the report 
described by Subsection (a) with the appropriate federal agency as 
required by federal law complies with that subsection unless the 
attorney general:
		(1)  notifies the financial institution that the report 
is not of a type that is regularly and comprehensively transmitted 
by the federal agency to the attorney general following the 
attorney general's request to that agency;
		(2)  requests that the financial institution provide 
the attorney general with a copy of the report;  and
		(3)  reimburses the financial institution for the 
actual cost of duplicating and delivering the report or 25 cents for 
each page, whichever is less.
	(c)  In this section, "financial institution" has the 
meaning assigned by 31 U.S.C. Section 5312 and its subsequent 
amendments.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.  Amended 
by Acts 1999, 76th Leg., ch. 344, § 2.028, eff. Sept. 1, 1999.

Last modified: August 10, 2007