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House Bill 2218 |
House Author: McCall |
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Effective: 9-1-05 |
Senate Sponsor: Brimer |
House Bill 2218 repeals Chapters 152 and 153, Finance Code, which regulate check selling and currency exchange, transportation, and transmission, respectively, and enacts the Money Services Act, which consolidates and updates the provisions from the repealed chapters. In addition to administrative provisions, the bill includes general qualifications and provisions applicable to money services licenses, subchapters on money transmission licenses and currency exchange licenses, requirements relating to examinations, reports, and records, and enforcement provisions, including criminal penalties.