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2025 Texas Statutes
Finance Code
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses
Chapter 152 - Regulation of Money Services Businesses
Subchapter G. General Duties and Restrictions for Money Transmission Licensee
Section 152.305. Prohibition on Imposition of Fine or Penalty for Terms of Service Violation

Universal Citation:
TX Fin Code § 152.305 (2025)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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Sec. 152.305. PROHIBITION ON IMPOSITION OF FINE OR PENALTY FOR TERMS OF SERVICE VIOLATION. (a) A money transmission licensee may not include in the licensee's terms of service agreement a provision allowing or providing for a monetary fine or penalty for violating any provision of the terms of service agreement.

(b) This section may not be construed to prevent a money transmission licensee from closing a customer account as a result of a customer's violation of the licensee's terms of service agreement, provided that the money transmission licensee refunds the balance of the account to the customer in a manner that makes the funds readily available to the customer.

(c) In addition to any other relief provided for a violation of this chapter, a money transmission licensee that violates this section is liable to this state for a civil penalty in an amount equal to three times the amount of the fine or penalty imposed by the licensee.

(d) The attorney general may bring an action in the name of the state to recover the civil penalty under Subsection (c). The attorney general may recover attorney's fees and costs incurred in bringing an action under Subsection (c).

Added by Acts 2025, 89th Leg., R.S., Ch. 976 (S.B. 512), Sec. 2, eff. September 1, 2025.

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