Texas § FI.152.351 - NET WORTH OF MONEY TRANSMISSION LICENSEE
Full text of Texas The Texas Constitution § FI.152.351 — NET WORTH OF MONEY TRANSMISSION LICENSEE, with citation guidance and answers to common questions.
§ FI.152.351. NET WORTH OF MONEY TRANSMISSION LICENSEE
NET WORTH OF MONEY TRANSMISSION LICENSEE. (a) A money transmission licensee under this chapter shall maintain at all times a tangible net worth in an amount not less than: (1) for a licensee with total assets in an amount not greater than $100 million, the greater of: (A) $100,000; or (B) 3 percent of the value of the licensee's total assets; (2) for a licensee with total assets in an amount greater than $100 million and not greater than $1 billion, the sum of $3 million and 2 percent of the additional assets in excess of $100 million; and (3) for a licensee with total assets in an amount greater than $1 billion, the sum of $21 million and 0.5 percent of the additional assets in excess of $1 billion. (b) Tangible net worth under this section must be demonstrated at the initial application by the applicant's most recent audited or unaudited financial statements pursuant to Section 152.104 (c)(6) or (7). (c) Notwithstanding other provisions of this section, the commissioner may, for good cause shown, exempt a money transmission licensee wholly or partly from the requirements of this section. Added by Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895 ), Sec. 1.01, eff. September 1, 2023. Amended by: Acts 2025, 89th Leg., R.S., Ch. 642 (H.B. 3833 ), Sec. 6, eff. September 1, 2025.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.152.351
What does The Texas Constitution § FI.152.351 cover?
Section FI.152.351 ("NET WORTH OF MONEY TRANSMISSION LICENSEE") 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.152.351?
A common citation format is "The Texas Constitution § FI.152.351" (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.152.351 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.