General and Special Laws of The State of Texas Passed By The Third Called Session of the Fifty-Seventh Legislature and the Regular Session of the Fifty-Eighth Legislature Page: 526
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Ch. 196 58TH LEGISLATURE-REGULAR SESSION
sum of the bond or securities shall be increased to reflect any increase in
the number of locations, and may be decreased to reflect any decrease in
the number of locations.
(b) If the Commissioner shall at any time reasonably determine that
the bond or securities aforesaid are insecure, deficient in amount, or ex-
hausted in whole or part, he may by written order require the filing of a
new or supplemental bond or the deposit of new or additional securities
in order to secure compliance with this Act, such order to be complied with
within thirty (30) days following service thereof upon the licensee.
Annual License Fee
Sec. 10. Each licensee shall pay to the Commissioner annually on or
before April 15 of each year a license fee of Fifty Dollars ($50).
Agents and Sub-agents
Sec. 11. A licensee may conduct his business at one or more locations
within this state, as follows:
(a) The business may be conducted through or by means of such agents
and sub-agents as the licensee may from time to time designate or appoint.
(b) No license under this Act shall be required of any agent or sub-
agent of a licensee except as provided in the following subsection.
(c) An agent or sub-agent, other than a person referred to in subsec-
tions (a) and (b) of Section 4, who sells the licensee's checks over-the-
counter to the public shall not be exempt from licensing under this Act
if such agent or sub-agent in the regular conduct of such business receives
or at any time has access to (1) the licensee's checks which, having been
paid, are returned through banking channels or otherwise for verification
or for reconciliation or accounting with respect thereto or (2) bank state-
ments relating to checks so returned. This subsection shall not affect
the exemption of any agent of a licensee who does not sell checks over-
the-counter to the public.
Liability of Licensees
Sec. 12. Each licensee shall be liable for the payment of all checks
which he sells, in whatever form and whether directly or through an agent,
as the maker or drawer thereof according to the negotiable instrument
laws of this state; and a licensee who sells a check, whether directly or
through an agent, upon which he is not designated as maker or drawer
shall nevertheless have the same liabilities with respect thereto as if he
had signed same as the drawer thereof.
Disclosure of Responsibility
Sec. 13. Every check sold by a licensee, directly or through an agent,
shall bear the name of the licensee clearly imprinted thereon.
Revocation of License; Investigations
Sec. 14. The Commissioner may revoke a license on any ground on
which he may refuse to grant a license or for violation of any provision of
this Act. In furtherance of the foregoing, the Commissioner, if he has
reasonable cause to believe that the grounds for revocation exist, may
investigate the business, books and records of the licensee.
526
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Texas. Legislature. General and Special Laws of The State of Texas Passed By The Third Called Session of the Fifty-Seventh Legislature and the Regular Session of the Fifty-Eighth Legislature, legislative document, 1963; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth221759/m1/862/?q=+date%3A1945-1972: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.