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A BILL TO BE ENTITLED
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AN ACT
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relating to currency exchange. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 151.502(b), Finance Code, is amended to |
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read as follows: |
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(b) For purposes of this chapter, a person engages in the |
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business of currency exchange if the person: |
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(1) exchanges currency and receives compensation or |
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expects to receive compensation, directly or indirectly, for the |
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currency exchange; or |
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(2) exchanges currency of the United States for a |
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thing of monetary value deposited in a depository account outside |
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of the United States. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |