Texas Finance Code - Section 204.109. Relocation Of Office
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Texas Laws > Finance Code > Texas Finance Code - Section 204.109. Relocation Of Office
Section: 204.102 204.103 204.104 204.105 204.106 204.107 204.108 204.109 204.110 204.111 204.112 204.113 204.114 204.115 204.116
§ 204.109. RELOCATION OF OFFICE. (a) With the prior
written approval of the commissioner, a foreign bank licensed to
establish and maintain a Texas state branch or agency may relocate
the branch or agency office. A foreign bank that intends to
relocate a Texas state branch or agency office shall submit a letter
to the commissioner describing the address of the proposed
location, the reasons for relocation, and the manner of notifying
its customers of the relocation.
(b) On or before the 30th day after the date the foreign
bank's letter has been accepted for filing and any required fee has
been paid, the commissioner shall approve or deny the relocation.
The commissioner may not permit the foreign bank to relocate its
Texas state branch or agency office if the commissioner finds that
the proposed location and the manner of relocation and notification
will be deceptive or that the relocation will impede or tend to
impede the foreign bank's depositors and creditors in this state.
Added by Acts 1999, 76th Leg., ch. 344, § 1.001, eff. Sept. 1,
Last modified: August 11, 2007