Texas Finance Code - Section 66.002. Adoption Of Rules
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§ 66.002. ADOPTION OF RULES. The finance commission may
adopt rules relating to:
(1) the minimum amounts of capital stock and paid-in
surplus required for incorporation as a capital stock association;
(2) the minimum amounts of savings liability and
expense funds required for incorporation as a mutual association;
(3) the fees and procedures for processing, hearing,
and deciding applications filed with the commissioner or the
Savings and Loan Department under this subtitle;
(4) the books and records that an association is
required to keep and the location at which the books and records are
required to be maintained;
(5) the accounting principles and practices that an
association is required to observe;
(6) the conditions under which records may be copied
or reproduced for permanent storage before the original records are
destroyed;
(7) the form, contents, and time of publication of
statements of condition;
(8) the form and contents of annual reports and other
reports that an association is required to prepare and publish or
file;
(9) the manner in which assets, liabilities, and
transactions in general are to be described when entered in the
books of an association, so that the entry accurately describes the
subject matter of the entry; and
(10) the conditions under which the commissioner may
require an asset to be charged off or reserves established by
transfer from surplus or paid-in capital because of the
depreciation of or overstated value of the asset.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2001, 77th Leg., ch. 867, § 31, eff. Sept. 1, 2001.
Section: 65.102 65.103 65.104 65.105 65.106 65.107 66.001 66.002 66.051 66.052 66.053 66.054 66.101 66.102 66.103
Last modified: August 10, 2007
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