Texas Finance Code - Section 31.103. Issuance Of Opinion
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Texas Lawyer > Finance Code > Texas Finance Code - Section 31.103. Issuance Of Opinion
§ 31.103. ISSUANCE OF OPINION. (a) In response to a
specific request from a member of the public or the banking
industry, the banking commissioner may issue an opinion directly or
through a deputy banking commissioner or department attorney.
(b) If the banking commissioner determines that the opinion
is useful for the general guidance of the public, state banks, or
trust companies, the commissioner may disseminate the opinion by
newsletter, via an electronic medium such as the internet, in a
volume of statutes or related materials published by the banking
commissioner or others, or by other means reasonably calculated to
notify persons affected by the opinion. A published opinion must be
redacted to preserve the confidentiality of the requesting party
unless the requesting party consents to be identified in the
published opinion.
(c) The banking commissioner may amend or repeal a published
opinion by issuing an amended opinion or notice of repeal of an
opinion and disseminating the opinion or notice in a substantially
similar manner as the affected statement or opinion was originally
disseminated. The requesting party, however, may rely on the
original opinion if:
(1) all material facts were originally disclosed to
the banking commissioner;
(2) the safety and soundness of the affected bank will
not be affected by further reliance on the original opinion; and
(3) the text and interpretation of relevant, governing
provisions of this subtitle or Chapter 12 have not been changed by
legislative or judicial action.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 1999, 76th Leg., ch. 344, § 2.005, eff. Sept. 1, 1999;
Acts 2001, 77th Leg., ch. 412, § 2.02, eff. Sept. 1, 2001.
Section: 31.003 31.004 31.005 31.006 31.007 31.101 31.102 31.103 31.104 31.105 31.106 31.107 31.108 31.201 31.202
Last modified: August 10, 2007
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