Texas Finance Code - Section 15.410. Share And Depositor Insurance Protection
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§ 15.410. SHARE AND DEPOSITOR INSURANCE PROTECTION. (a)
The commission shall adopt, and the commissioner shall enforce,
reasonable rules requiring a credit union to provide share and
deposit insurance protection for credit union members and
depositors.
(b) Rules adopted under this section must include
authorization for and establishment of a share and deposit guaranty
corporation or credit union under the department's exclusive
regulation to enable the department to carry out the purposes of
this chapter and Subtitle D, Title 3.
(c) A credit union may provide share and deposit insurance
protection through another source approved by the department,
including a program of the National Credit Union Administration.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 15.4043 15.405 15.406 15.407 15.408 15.409 15.4091 15.410 15.411 15.412 15.413 15.414 15.415 31.001 31.002
Last modified: August 10, 2007
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