Tex. Finance Code § 152.305
This is the official text of Tex. Finance Code § 152.305, part of Texas’s Finance Code — regulates banks and other financial institutions.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 152.305. PROHIBITION ON IMPOSITION OF FINE OR PENALTY FOR TERMS OF SERVICE VIOLATION.
Official statutory text
(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).
(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).
Status: in_force · Read it on the official government site
Need a lawyer in Texas?
Find a Texas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.