Sec. 151.303. ADDITIONAL QUALIFICATIONS. In addition to the general qualifications for licensure set forth in Section 151.202, an applicant for a money transmission license must demonstrate to the satisfaction of the commissioner that:
(1) the applicant has and will maintain the minimum net worth required under Section 151.307;
(2) the applicant's financial condition will enable the applicant to safely and soundly engage in the business of money transmission; and
(3) the applicant does not engage in any activity or practice that adversely affects the applicant's safety and soundness.
Added by Acts 2005, 79th Leg., Ch. 1099 (H.B. 2218), Sec. 1, eff. September 1, 2005.
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