Texas § FI.152.303 - RECEIPTS

§ FI.152.303. RECEIPTS

RECEIPTS. (a) This section does not apply to: (1) money received for money transmission subject to the federal requirements for remittance transfers under 12 C.F.R. Part 1005, Subpart B; (2) money received for money transmission that is not primarily for personal, family, or household purposes; (3) money received for money transmission under a written agreement between a money transmission licensee and a payee to process payments for goods or services provided by the payee; or (4) payroll processing services. (b) In this section, "receipt" means a paper receipt, electronic record, or other written confirmation. (c) For a transaction conducted in person, a receipt may be provided electronically if the sender requests or agrees to receive an electronic receipt. For a transaction conducted electronically or by phone, a receipt may be provided electronically. All electronic receipts shall be provided in a retainable form. (d) A money transmission licensee or the licensee's authorized delegate shall provide the sender a receipt for money received for money transmission services. (e) A receipt must contain, as applicable: (1) the name of the sender; (2) the name of the designated recipient; (3) the date of the transaction; (4) the unique transaction or identification number; (5) the name of the money transmission licensee, the licensee's NMLS Unique ID, the licensee's business address, and the licensee's customer service telephone number; (6) the amount of the transaction in United States dollars; (7) any fee charged by the money transmission licensee to the sender for the transaction; and (8) any taxes collected by the money transmission licensee from the sender for the transaction. (f) The receipt required by this section must be in English and in a language other than English if the money transmission licensee or authorized delegate principally uses that language to advertise, solicit, or negotiate, either orally or in writing, for a transaction conducted in person, electronically, or by phone. Added by Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895 ), Sec. 1.01, eff. September 1, 2023.