Tex. Finance Code § 152.061
PRESUMPTION OF CONTROL
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 152.061, PRESUMPTION OF CONTROL, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/646139
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Full text
(a) A person is presumed to exercise a controlling influence over a money services licensee if the person holds the power to directly or indirectly vote not less than 10 percent of the outstanding voting shares or voting interests of a money services licensee or person in control of a money services licensee.
(b) The presumption under Subsection (a) may be rebutted by evidence that the person who is presumed to exercise a controlling influence under Subsection (a) is a passive investor.
(c) For purposes of determining the percentage of a money services licensee controlled by a person, the person's interest shall be aggregated with the interest of any person:
(1) related within the second degree of consanguinity or affinity, other than a person's grandparent or grandchild; or
(2) who shares the person's home.