TX HB3805

Authorizes the banking commissioner to remove or prohibit current or former key individuals, employees, or control persons from money services licensees if they intentionally committed violations, violated cease and desist orders, or made false entries that caused financial loss or involved personal dishonesty

Allows the commissioner to issue removal or prohibition orders against individuals finally convicted of felony offenses involving money services businesses, dishonesty, or breach of trust, with orders taking effect immediately upon service

Orders may be made perpetual, for a specific time period, or subject to probation and other conditions at the commissioner's discretion

Individuals subject to removal or prohibition orders may apply for release after 10 years from issuance, with the commissioner's decision being final and non-appealable

Takes effect immediately upon two-thirds vote of both legislative chambers, otherwise September 1, 2025; passed House 135-0 on April 30, 2025, and Senate 31-0 on May 19, 2025