An applicant for a money service businesses license may pay reasonable expenses of an on-site or third party investigation and a non-refundable investigation fee. Applicant shall pay application and annual renewal fee.

The commission may require license fees be submitted through the Nationwide Multistate Licensing System and Registry.

Licensees may not include a fine or penalty for terms of service violations. Licensees that do are subject to a civil penalty equal to three times the amount of such a fine. This civil penalty collected under revenue object 3717.

 As determined by the commission.

Previously deposited to the General Revenue Fund (No. 0001). Securities previously deposited to the Money Service Business Security Trust Fund (No. 0841) now to Texas Safekeeping Trust Company. This includes check sellers (Revenue Code 3175) and currency exchange (revenue code 3172) fees that were repealed by H.B. 2218.

Effective 9-1-09, H.B. 2774, 81st Leg., R.S., made the Texas Department of Banking, Agency 451, a semi-independent agency with funds in the Texas Safekeeping Trust Company.

Amended by H.B. 2134, 83rd Leg., R.S.

Amended by S.B. 1403, 85th Leg., R.S.

S.B. 895, 88th Leg., R.S. repealed Finance Code Ch. 151 and replaced with Ch. 152.

Civil penalty added by S.B. 512, 89th Leg., R.S.