Sec. 151.501. DEFINITIONS. (a) This section defines terms that apply specifically to an applicant for or holder of a currency exchange license issued under this subchapter.
(b) In this subchapter:
(1) "Currency" means the coin and paper money of the United States or any country that is designated as legal tender and circulates and is customarily used and accepted as a medium of exchange in the country of issuance.
(2) "Currency exchange" means:
(A) receiving the currency of one government and exchanging it for the currency of another government; or
(B) receiving a negotiable instrument and exchanging it for the currency of another government.
(3) "Negotiable instrument" has the meaning assigned by Section 3.104, Business & Commerce Code.
Added by Acts 2005, 79th Leg., Ch. 1099 (H.B. 2218), Sec. 1, eff. September 1, 2005.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 988 (H.B. 2134), Sec. 14, eff. September 1, 2013.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses
Chapter 151 - Regulation of Money Services Businesses
Subchapter F. Currency Exchange License
Section 151.502. License Required
Section 151.503. Qualifications
Section 151.504. Application and Accompanying Fee and Security