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Army Veteran Owned | Expert Surety Bonds Since 2004
Have a question? +1 815-826-6324 (815-8-BondAI) phil@AmericasSuretyBonds.com
Army Veteran Owned | Expert Surety Bonds Since 2004
Most of what decides your Texas bond amount sits on your balance sheet. If tangible net worth is more than 10 percent of total assets, the bond is a flat $100,000. If not, it follows your Texas transmission liability up to $500,000. We file it as an electronic surety bond through NMLS, which the Texas Department of Banking accepts with the license application.
Texas Finance Code 152.352 requires every money transmission licensee to keep a surety bond in a form satisfactory to the Banking Commissioner. A licensee whose tangible net worth is more than 10 percent of total assets posts $100,000. Otherwise the bond is the greater of $100,000 or 100 percent of average daily money transmission liability in Texas for the most recently completed three month period, up to $500,000. The bond is filed through NMLS and must cover claims for five years after the license is surrendered.
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Finance Code 152.352(b), added by SB 895 effective September 1, 2023, splits licensees by one ratio: tangible net worth to total assets.
Average daily money transmission liability, defined in 152.003, is your outstanding Texas transmission obligations at the end of each day in the period, added together and divided by the number of days. A licensee that simply keeps a $500,000 bond does not have to run that calculation. HB 3833, effective September 1, 2025, amended other parts of Chapter 152 but left these amounts in place.
Section 152.351 sets a separate tangible net worth floor: the greater of $100,000 or 3 percent of total assets up to $100 million, with lower percentages on assets above that. The bond does not replace net worth, and net worth does not replace the bond.
Section 152.004 excludes, among others, federally insured depository institutions and bank holding companies, Texas trust companies, government entities, the Postal Service, securities broker dealers, attorneys and title companies handling real estate escrows, and employees of a licensee acting within their jobs. Currency exchange licensees fall under a separate security rule in 152.353.
Under 152.354 the bond is payable to any claimant, or to the commissioner on behalf of a claimant or the state, for liability arising from the licensee's money transmission business. It must be issued by a qualified surety company authorized to do business in Texas. It stays in force until canceled on 30 days written notice to the commissioner, and it must cover claims for at least five years after the license is surrendered. The commissioner can require more security if the existing bond becomes insecure or deficient, and a deposit may be kept in place of the bond with the commissioner's approval.
The Department of Banking takes money transmission applications through NMLS under the TX-DOB Money Transmission License New Application Checklist. The filing fee is $10,000, paid through NMLS and not refundable. The Department states applicants may submit an electronic surety bond in NMLS to meet the security requirement. Licensees then pay a license fee and file a sworn report every year under 152.107.
The surety prices the bond from the required amount and its review of the company's financial statements, ownership and compliance history.
Only if your tangible net worth is more than 10 percent of total assets. At 10 percent or less, it is the greater of $100,000 or 100 percent of your average daily money transmission liability in Texas for the most recently completed three month period, up to $500,000.
Not if you keep a bond at the $500,000 maximum. Section 152.352(c) says a licensee holding the maximum is not required to calculate it.
Yes. The Texas Department of Banking says applicants may submit an electronic surety bond through NMLS to satisfy the security requirement.
A cancellation takes effect only after 30 days written notice to the commissioner, and the security must still cover claims for at least five years after the license is surrendered.
No. HB 3833, effective September 1, 2025, amended other parts of Chapter 152 but did not change the amounts in Section 152.352.
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