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SB512 • 2025

Relating to prohibiting the imposition of a monetary fine or penalty for a violation of a money services business's terms of service agreement; providing a civil penalty.

Relating to prohibiting the imposition of a monetary fine or penalty for a violation of a money services business's terms of service agreement; providing a civil penalty.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Kolkhorst
Last action
2025-06-20
Official status
06/20/2025 E Effective on 9/1/25
Effective date
2025-06-20

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Relating to prohibiting the imposition of a monetary fine or penalty for a violation of a money services business's terms of service agreement; providing a civil penalty.

Relating to prohibiting the imposition of a monetary fine or penalty for a violation of a money services business's terms of service agreement; providing a civil penalty.

What This Bill Does

  • Relating to prohibiting the imposition of a monetary fine or penalty for a violation of a money services business's terms of service agreement; providing a civil penalty.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2025-06-20 Texas Legislature Online

    Signed by the Governor

  2. 2025-06-20 Texas Legislature Online

    Effective on 9/1/25

  3. 2025-06-01 Texas Legislature Online

    Signed in the House

  4. 2025-06-01 Texas Legislature Online

    Sent to the Governor

  5. 2025-05-31 Texas Legislature Online

    Senate concurs in House amendment(s)-reported

  6. 2025-05-31 Texas Legislature Online

    Signed in the Senate

  7. 2025-05-30 Texas Legislature Online

    House amendment(s) laid before the Senate

  8. 2025-05-30 Texas Legislature Online

    Read

  9. 2025-05-30 Texas Legislature Online

    Senate concurs in House amendment(s)

  10. 2025-05-30 Texas Legislature Online

    Record vote

  11. 2025-05-30 Texas Legislature Online

    Reported enrolled

  12. 2025-05-27 Texas Legislature Online

    Read 3rd time

  13. 2025-05-27 Texas Legislature Online

    Passed

  14. 2025-05-27 Texas Legislature Online

    Record vote. RV#3650

  15. 2025-05-27 Texas Legislature Online

    Statement(s) of vote recorded in Journal

  16. 2025-05-27 Texas Legislature Online

    House passage as amended reported

  17. 2025-05-26 Texas Legislature Online

    Read 2nd time

  18. 2025-05-26 Texas Legislature Online

    Amended. 1-Schofield

  19. 2025-05-26 Texas Legislature Online

    Record vote. RV#3593

  20. 2025-05-26 Texas Legislature Online

    Statement(s) of vote recorded in Journal

  21. 2025-05-26 Texas Legislature Online

    Passed to 3rd reading as amended

  22. 2025-05-26 Texas Legislature Online

    Record vote. RV#3594

  23. 2025-05-26 Texas Legislature Online

    Statement(s) of vote recorded in Journal

  24. 2025-05-24 Texas Legislature Online

    Placed on General State Calendar

  25. 2025-05-22 Texas Legislature Online

    Considered in Calendars

  26. 2025-05-21 Texas Legislature Online

    Comte report filed with Committee Coordinator

  27. 2025-05-21 Texas Legislature Online

    Committee report distributed

  28. 2025-05-21 Texas Legislature Online

    Committee report sent to Calendars

  29. 2025-05-19 Texas Legislature Online

    Considered in public hearing

  30. 2025-05-19 Texas Legislature Online

    Reported favorably w/o amendment(s)

  31. 2025-05-12 Texas Legislature Online

    Scheduled for public hearing on . . .

  32. 2025-05-12 Texas Legislature Online

    Considered in public hearing

  33. 2025-05-12 Texas Legislature Online

    Testimony taken/registration(s) recorded in committee

  34. 2025-05-12 Texas Legislature Online

    Left pending in committee

  35. 2025-04-30 Texas Legislature Online

    Read first time

  36. 2025-04-30 Texas Legislature Online

    Referred to Pensions, Investments & Financial Services

  37. 2025-04-29 Texas Legislature Online

    Received from the Senate

  38. 2025-04-28 Texas Legislature Online

    Rules suspended-Regular order of business

  39. 2025-04-28 Texas Legislature Online

    Vote recorded in Journal

  40. 2025-04-28 Texas Legislature Online

    Read 2nd time & passed to engrossment

  41. 2025-04-28 Texas Legislature Online

    Vote recorded in Journal

  42. 2025-04-28 Texas Legislature Online

    Three day rule suspended

  43. 2025-04-28 Texas Legislature Online

    Record vote

  44. 2025-04-28 Texas Legislature Online

    Read 3rd time

  45. 2025-04-28 Texas Legislature Online

    Passed

  46. 2025-04-28 Texas Legislature Online

    Record vote

  47. 2025-04-28 Texas Legislature Online

    Reported engrossed

  48. 2025-04-24 Texas Legislature Online

    Placed on intent calendar

  49. 2025-04-16 Texas Legislature Online

    Reported favorably w/o amendments

  50. 2025-04-16 Texas Legislature Online

    Recommended for local & uncontested calendar

  51. 2025-04-16 Texas Legislature Online

    Committee report printed and distributed

  52. 2025-04-15 Texas Legislature Online

    Considered in public hearing

  53. 2025-04-15 Texas Legislature Online

    Vote taken in committee

  54. 2025-04-10 Texas Legislature Online

    Scheduled for public hearing on . . .

  55. 2025-04-10 Texas Legislature Online

    Considered in public hearing

  56. 2025-04-10 Texas Legislature Online

    Testimony taken in committee

  57. 2025-04-10 Texas Legislature Online

    Left pending in committee

  58. 2025-02-03 Texas Legislature Online

    Read first time

  59. 2025-02-03 Texas Legislature Online

    Referred to Business & Commerce

  60. 2024-11-25 Texas Legislature Online

    Received by the Secretary of the Senate

  61. 2024-11-25 Texas Legislature Online

    Filed

Official Summary Text

Relating to prohibiting the imposition of a monetary fine or penalty for a violation of a money services business's terms of service agreement; providing a civil penalty.

Current Bill Text

Read the full stored bill text 
89(R) SB 512 - Enrolled version - Bill Text

S.B. No. 512

AN ACT

relating to prohibiting the imposition of a monetary fine or

penalty for a violation of a money services business's terms of

service agreement; providing a civil penalty.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. The heading to Subchapter G, Chapter 152,

Finance Code, is amended to read as follows:

SUBCHAPTER G.
GENERAL DUTIES AND RESTRICTIONS FOR
[
TIMELY

TRANSMISSION, REFUNDS, AND DISCLOSURES BY
] MONEY TRANSMISSION

LICENSEE

SECTION 2. Subchapter G, Chapter 152, Finance Code, is

amended by adding Section 152.305 to read as follows:

Sec.

152.305.

PROHIBITION ON IMPOSITION OF FINE OR PENALTY

FOR TERMS OF SERVICE VIOLATION.

(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).

SECTION 3. This Act applies only to a terms of service

agreement entered into after the effective date of this Act. A

terms of service agreement entered into before the effective date

of this Act is governed by the law as it existed immediately before

the effective date of this Act, and the former law is continued in

effect for that purpose.

SECTION 4. This Act takes effect September 1, 2025.

______________________________

______________________________

President of the Senate

Speaker of the House

I hereby certify that S.B. No. 512 passed the Senate on

April 28, 2025, by the following vote: Yeas 30, Nays 0, one

present not voting; and that the Senate concurred in House

amendment on May 30, 2025, by the following vote: Yeas 30, Nays 0,

one present not voting.

______________________________

Secretary of the Senate

I hereby certify that S.B. No. 512 passed the House, with

amendment, on May 27, 2025, by the following vote: Yeas 140,

Nays 0, two present not voting.

______________________________

Chief Clerk of the House

Approved:

______________________________

Date

______________________________

Governor