Texas Finance Code - Section 32.304. Limitation On Control Of Deposits
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§ 32.304. LIMITATION ON CONTROL OF DEPOSITS. (a) A
merger is not permitted under this subchapter if, on consummation
of the transaction, the resulting state bank, including all insured
depository institution affiliates of the resulting state bank,
would control 20 percent or more of the total amount of deposits in
this state held by all insured depository institutions in this
state.
(b) On request of the banking commissioner the applicant
shall provide supplemental information to the banking commissioner
to aid in a determination under this section, including information
that is more current than or in addition to information in the most
recently available summary of deposits, reports of condition, or
similar reports filed with or produced by state or federal
authorities.
(c) In this section, "deposit" and "insured depository
institution" have the meanings assigned by Section 3, Federal
Deposit Insurance Act (12 U.S.C. Section 1813), as amended.
Added by Acts 1999, 76th Leg., ch. 344, § 2.008, eff. Sept. 1,
1999.
Section: 32.201 32.202 32.203 32.204 32.301 32.302 32.303 32.304 32.401 32.402 32.403 32.404 32.405 32.406 32.501
Last modified: August 10, 2007
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