Bill Text: TX HB3048 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Relating to currency exchange.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-03-17 - Referred to Pensions, Investments & Financial Services [HB3048 Detail]
Download: Texas-2011-HB3048-Introduced.html
82R12533 DAK-F | ||
By: Lucio III | H.B. No. 3048 |
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relating to currency exchange. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 151.502(b), Finance Code, is amended to | ||
read as follows: | ||
(b) For purposes of this chapter, a person engages in the | ||
business of currency exchange if the person: | ||
(1) exchanges currency and receives compensation or | ||
expects to receive compensation, directly or indirectly, for the | ||
currency exchange; or | ||
(2) exchanges currency of the United States for a | ||
thing of monetary value deposited in a depository account outside | ||
of the United States. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2011. |