TITLE 7. BANKING AND SECURITIES

PART 2. TEXAS DEPARTMENT OF BANKING

CHAPTER 33. MONEY SERVICES BUSINESSES

The Finance Commission of Texas (the commission), on behalf of the Texas Department of Banking (the department), adopts new §33.55, concerning the exemption to money transmission licensing under Finance Code §152.004(9), relating to certain activity by attorneys and title companies. The new rule is adopted without changes to the proposed text as published in the July 4, 2025 issue of the Texas Register (50 TexReg 3847) and will not be republished. The new rule clarifies the term "attorney" for purposes of §152.004(9) and the conditions necessary to invoke the exemption.

Pursuant to the new rule, only licensed attorneys who are a member of the State Bar of Texas, or Texas professional corporations organized to provide professional legal services, who receive and disburse escrow or trust funds in the course of providing legal representation may avail themselves of §152.004(9)-as long as all other conditions of the exemption are met.

The department received no comments regarding the proposed new rule.

The new rule is adopted under Texas Finance Code §152.052, which authorizes the commission to adopt rules to administer and enforce Chapter 152, including rules necessary and appropriate to implement and clarify the chapter. Chapter 152 was adopted by Senate Bill 895 during the 88th Legislative Session.

Texas Finance Code §152.004 is affected by the proposed new rule.

The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.

Filed with the Office of the Secretary of State on August 15, 2025.

TRD-202502939

Robert K. Nichols, III

General Counsel

Texas Department of Banking

Effective date: September 4, 2025

Proposal publication date: July 4, 2025

For further information, please call: (512) 475-1327