Texas Finance Code - Section 32.204. Loan Production Offices
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§ 32.204. LOAN PRODUCTION OFFICES. (a) A state bank may
establish one or more loan production offices for the purpose of
soliciting loans or equivalent transactions, accepting loan
applications, and performing ministerial duties related to
consummating a granted loan, such as execution of loan documents
and dispensation of loan proceeds by check or other draft,
including a certified or cashier's check, but not by cash. A credit
decision, commitment to make a loan, and preparation of a check or
other draft to dispense loan proceeds must occur at the bank's home
office or a branch office and may not occur at a loan production
office.
(b) The bank shall notify the banking commissioner in
writing before the 31st day before the date of establishment of a
loan production office, except that the banking commissioner may
waive or shorten the period if the banking commissioner does not
have a significant supervisory or regulatory concern regarding the
bank or its planned loan production office.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2001, 77th Leg., ch. 412, § 2.08, eff. Sept. 1, 2001.
Section: 32.101 32.102 32.103 32.104 32.201 32.202 32.203 32.204 32.301 32.302 32.303 32.304 32.401 32.402 32.403
Last modified: August 10, 2007
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