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Texas Finance Code - Section 203.002. Conditions For Entry By De Novo Branching

Legal Research Home > Texas Laws > Finance Code > Texas Finance Code - Section 203.002. Conditions For Entry By De Novo Branching

§ 203.002. CONDITIONS FOR ENTRY BY DE NOVO 
BRANCHING.  (a) An out-of-state bank may establish a de novo branch 
in this state if:
		(1)  the laws of the home state of the out-of-state bank 
would permit a Texas bank to establish and maintain a de novo branch 
in that state under substantially the same terms and conditions as 
set forth in this subchapter;
		(2)  the out-of-state bank confirms in writing to the 
commissioner that as long as it maintains a branch in this state, it 
will comply with all applicable laws of this state;
		(3)  the applicant provides satisfactory evidence to 
the commissioner of compliance with the applicable requirements of 
Section 201.102;  and
		(4)  the commissioner, acting on or before the 30th day 
after the date the commissioner receives notice of an application 
under Subsection (b), certifies to the responsible federal bank 
supervisory agency that the requirements of this subchapter have 
been met.
	(b)  An out-of-state bank desiring to establish and maintain 
a de novo branch shall provide written notice of the proposed 
transaction to the commissioner not later than the date on which the 
bank applies to the responsible federal bank supervisory agency for 
approval to establish the branch.  The filing of the notice must be 
accompanied by the filing fee, if any, prescribed by the 
commissioner.
	(c)  A de novo branch may be established in this state 
through the acquisition of a branch of an existing Texas bank if the 
acquiring out-of-state bank complies with this section.

Added by Acts 1999, 76th Leg., ch. 344, § 1.001, eff. Sept. 1, 
1999.     

Last modified: August 11, 2007