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Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Finance Code § 152.061: PRESUMPTION OF CONTROL.

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Where this section sits in the code
  1. FINANCE CODE
  2. TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
  3. SUBTITLE E. OTHER FINANCIAL BUSINESSES
  4. CHAPTER 152. REGULATION OF MONEY SERVICES BUSINESSES
  5. SUBCHAPTER B. ADMINISTRATIVE PROVISIONS

(a) A person is presumed to exercise a controlling influence over a money services licensee if the person holds the power to directly or indirectly vote not less than 10 percent of the outstanding voting shares or voting interests of a money services licensee or person in control of a money services licensee.

(b) The presumption under Subsection (a) may be rebutted by evidence that the person who is presumed to exercise a controlling influence under Subsection (a) is a passive investor.

(c) For purposes of determining the percentage of a money services licensee controlled by a person, the person's interest shall be aggregated with the interest of any person:

(1) related within the second degree of consanguinity or affinity, other than a person's grandparent or grandchild; or

(2) who shares the person's home.

Added by Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895), Sec. 1.01, eff. September 1, 2023.

Collected 2026-08-27T01:47:13Z. Source file · JSON

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