Section 152.205 - Reports Of Certain Events(a) A money services licensee shall file a report with the commissioner not later than the first business day after the licensee has reason to know of: (1) the filing of a petition by or against the licensee under the United States Bankruptcy Code (11 U.S.C. Sections 101 - 1532) for bankruptcy or reorganization; (2) the filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for the licensee's dissolution or reorganization, or the making of a general assignment for the benefit of the licensee's creditors; or (3) the commencement of a proceeding to revoke or suspend the licensee's license in a state or country in which the licensee engages in or is licensed to engage in money services business. (b) A money services licensee shall file a report with the commissioner not later than the third business day after the licensee has reason to know of the occurrence of a felony charge or conviction of: (1) the licensee or a key individual; (2) a person in control of the licensee; or (3) an authorized delegate. Added by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 277,Sec. 1.01, eff. 9/1/2023.