Tex. Finance Code § 152.254
This is the official text of Tex. Finance Code § 152.254, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 152.254. UNAUTHORIZED ACTIVITIES.
Official statutory text
A person may not engage in the business of money transmission on behalf of a person not licensed under this chapter or not exempt under Section 152.004. A person who engages in unauthorized activity provides money transmission to the same extent as if the person were a money transmission licensee, and shall be jointly and severally liable with the unlicensed or nonexempt person. Any business for which a license is required under this chapter that is conducted by an authorized delegate outside the scope of authority conferred in the contract between the authorized delegate and the licensee is unlicensed activity.
Status: in_force · Read it on the official government site
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