Texas § FI.160.003 - APPLICABILITY
Full text of Texas The Texas Constitution § FI.160.003 — APPLICABILITY, with citation guidance and answers to common questions.
§ FI.160.003. APPLICABILITY
APPLICABILITY. (a) This chapter applies to a digital asset service provider doing business in this state that: (1) holds a money transmission license under Subchapter D, Chapter 151; and (2) either: (A) serves more than 500 digital asset customers in this state; or (B) has at least $10 million in customer funds. (b) This chapter does not apply to: (1) a bank, as defined by Section 31.002 ; or (2) an entity excluded by commission rule or by order of the banking commissioner based on a finding that the entity is: (A) not required to hold a money transmission license under Subchapter D, Chapter 151; or (B) not subject to the requirements of this chapter. Added by Acts 2023, 88th Leg., R.S., Ch. 419 (H.B. 1666 ), Sec. 1, eff. September 1, 2023.
Frequently Asked Questions About Texas § FI.160.003
What does The Texas Constitution § FI.160.003 cover?
Section FI.160.003 ("APPLICABILITY") 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.160.003?
A common citation format is "The Texas Constitution § FI.160.003" (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.160.003 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.