1. (a) Does this section apply to me? This section applies if you hold a license issued by the department under Finance Code, Chapter 151 (Money Services Act), or are the authorized delegate of a license holder, as applicable, and you conduct currency exchange transactions. Prior to August 15, 2006, this section also applies if you hold a valid license issued under repealed Finance Code, Chapter 152 (Sale of Checks Act) or Chapter 153 (Currency Exchange Act).

2. (b) Must I issue a receipt in connection with the currency exchange transactions I conduct?

   1. (1) For purposes of this section, "receipt" means a receipt, electronic record or other written confirmation.

   2. (2) With respect to a currency exchange transaction in an amount in excess of $1,000, you must issue a receipt for each transaction that:

      1. (A) can be linked to the exchange transaction records required under §33.31(c)(1) and (2) of this title (relating to Currency Exchange Recordkeeping); and

      2. (B) contains:

         1. (i) the name of your licensed business and the business address or telephone number;
         2. (ii) the unique transaction or identification number;
         3. (iii) the date and amount of the transaction;
         4. (iv) the currency names and total amount of each currency;
         5. (v) the rate of exchange; and
         6. (vi) the amount of fee charged for the transaction.

   3. (3) With respect to a currency exchange transaction you conduct with another financial institution as that term is defined in 31 CFR §103.11(n) or with a financial institution located outside the United States, you must obtain a contemporaneous receipt for each transaction regardless of where the transaction is conducted. If the other financial institution is a money services business as that term is defined in 31 CFR §103.11(uu), or a money services business or financial institution located outside the United States, the receipt must contain:

      1. (A) the date and amount of the transaction;
      2. (B) the currency names and total amount of each currency;
      3. (C) the rate of exchange;
      4. (D) the name and address of the money services business issuing the receipt; and
      5. (E) information sufficient to identify the employee or representative who conducts the transaction for the entity issuing the receipt, such as initials, unique employee or representative code, or other appropriate identifier.

Source Note:The provisions of this §33.33 adopted to be effective August 31, 2006, 31 TexReg 6643.