Texas Finance Code - Section 32.005. Protest; Hearing; Decision On Charter Application
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§ 32.005. PROTEST; HEARING; DECISION ON CHARTER
APPLICATION. (a) Any person may file a protest of an application.
(b) If a protest of the application is not filed before the
15th day after the date the organizers publish notice under Section
32.004(a), the banking commissioner may immediately determine
whether the necessary conditions set forth in Section 32.003(b)
have been established, based on the application and investigation.
The banking commissioner shall approve the charter application or
set the charter application for hearing.
(c) If a protest of the application is timely filed,
accompanied by the fees and deposits required by law, or if the
banking commissioner sets a hearing, the banking commissioner shall
conduct a public hearing and one or more prehearing conferences and
opportunities for discovery as the banking commissioner considers
advisable and consistent with the applicable law. A person
protesting the application is entitled to the confidential portion
of the application, subject to a protective order that restricts
the use of confidential information to the charter proceedings.
(d) Based on the record of the hearing, the banking
commissioner shall determine whether the application meets the
requirements of Section 32.003(b) and shall enter an order granting
or denying the charter.
(e) The banking commissioner may make approval of an
application conditional. The banking commissioner shall include
any conditions in the order approving the application.
(f) Chapter 2001, Government Code, does not apply to a
charter application filed for the purpose of assuming the assets
and liabilities of a financial institution considered by the
banking commissioner to be in hazardous condition.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 31.306 31.307 31.308 32.001 32.002 32.003 32.004 32.005 32.006 32.007 32.008 32.009 32.010 32.011 32.101
Last modified: August 10, 2007
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