Texas Finance Code - Section 37.003. Emergency Closing Of Office Or Operation By Banking Commissioner
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§ 37.003. EMERGENCY CLOSING OF OFFICE OR OPERATION BY
BANKING COMMISSIONER. (a) If the banking commissioner determines
that an emergency exists or is impending in all or part of this
state, the banking commissioner by proclamation may authorize banks
located in the affected area to close all or part of their offices
or operations.
(b) If the banking commissioner determines that an
emergency exists or is impending that affects or may affect one or
more particular banks or a particular bank operation, but not banks
located in the area generally, the banking commissioner may
authorize the bank or banks affected to close their offices or a
particular bank operation.
(c) A bank office or bank operation closed under this
section may remain closed until the banking commissioner proclaims
that the emergency has ended, or until an earlier time that the
officers of the bank determine that the closed bank office or bank
operation should reopen, except that the affected bank office or
operation may remain closed for additional time reasonably required
to reopen.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 36.310 36.311 36.312 36.313 36.314 37.001 37.002 37.003 37.004 37.005 37.006 59.001 59.002 59.003 59.004
Last modified: August 10, 2007
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