Texas § FI.152.061 - PRESUMPTION OF CONTROL
Full text of Texas The Texas Constitution § FI.152.061 — PRESUMPTION OF CONTROL, with citation guidance and answers to common questions.
§ FI.152.061. PRESUMPTION OF CONTROL
PRESUMPTION OF CONTROL. (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. SUBCHAPTER C. MONEY SERVICES LICENSES
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.152.061
What does The Texas Constitution § FI.152.061 cover?
Section FI.152.061 ("PRESUMPTION OF CONTROL") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.152.061?
A common citation format is "The Texas Constitution § FI.152.061" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.152.061 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.