82R12533 DAK-F
By: Lucio III H.B. No. 3048
A BILL TO BE ENTITLED
AN ACT
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.