Principle Criteria
Free Enterprise
Property Rights
Personal Responsibility
Limited Government
Individual Liberty
Digest
HB 1516 bans money transmission licensees from imposing monetary fines or penalties for violations of their terms of service agreements. The bill allows account closures for such violations but prohibits financial penalties. It imposes a civil penalty equal to three times any fine or penalty imposed in violation of this rule and allows the attorney general to recover costs for enforcement​.
Author (1)
Michael Schofield
Contact the Author
Rep. Michael Schofield
Capitol Phone:
(512) 463-0528
Capitol Office:
EXT E2.418
E-Mail:
