Texas Finance Code - Section 15.4032. Examination Of Related Entities
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Texas Lawyer > Finance Code > Texas Finance Code - Section 15.4032. Examination Of Related Entities
§ 15.4032. EXAMINATION OF RELATED ENTITIES. (a) In
accordance with rules adopted by the commission, the commissioner
may examine, to the same extent as if the services or activities
were performed by a credit union on its own premises:
(1) a credit union service organization in which a
credit union has a material interest;
(2) an organization engaged primarily in the business
of managing one or more credit unions; and
(3) a third-party contractor providing electronic
data processing, electronic fund transfers, or other member
services on behalf of a credit union.
(b) The commissioner may collect a fee from an examined
contractor or organization in connection with each examination to
cover the cost of the examination or may collect that fee from the
credit unions that use the examined contractor.
Added by Acts 2003, 78th Leg., ch. 533, § 3, eff. Sept. 1, 2003.
Section: 15.401 15.402 15.4021 15.4022 15.4023 15.403 15.4031 15.4032 15.404 15.4041 15.4042 15.4043 15.405 15.406 15.407
Last modified: August 10, 2007
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