Texas Finance Code - Section 91.002. Definitions
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§ 91.002. DEFINITIONS. In this subtitle:
(1) "Appropriate banking agency":
(A) means:
(i) with respect to a savings bank
chartered by this state, the Savings and Loan Department;
(ii) with respect to a federal savings
bank, the Office of Thrift Supervision;
(iii) with respect to a savings and loan
association chartered by this state, the Savings and Loan
Department;
(iv) with respect to a federal savings and
loan association, the Office of Thrift Supervision;
(v) with respect to a bank chartered by this
state, the Texas Department of Banking; and
(vi) with respect to a national bank, the
Office of the Comptroller of the Currency; and
(B) includes:
(i) in each case in which a state bank is a
member of the Federal Reserve System, the board of governors of the
Federal Reserve System;
(ii) in each case where required by the
Federal Deposit Insurance Act (12 U.S.C. Section 1811 et seq.), the
Federal Deposit Insurance Corporation; and
(iii) any successor of a state or federal
agency specified by this subdivision.
(2) "Board" means the board of directors of a savings
bank or the managers of a savings bank organized as a limited
savings bank.
(3) "Capital stock" means the units into which the
proprietary interest in a capital stock savings bank is divided.
(4) "Capital stock savings bank" means a savings bank
authorized to issue capital stock.
(5) "Commissioner" means the savings and loan
commissioner.
(6) "Company" means a corporation, partnership,
trust, joint-stock company, association, unincorporated
organization, or other legal entity, or a combination of any of
those entities acting together.
(7) "Deposit account" means a savings account,
certificate of deposit, withdrawable deposit, demand deposit
account, checking account, or any other term referring to the
amount of money a savings bank owes an account holder as the result
of the deposit of money in the savings bank.
(8) "Deposit liability" means the aggregate amount of
money shown by the books of the savings bank to be owed the savings
bank's deposit account holders after applying any legal or
contractual reduction.
(9) "Domestic savings bank" means a savings bank
organized under the laws of this state.
(10) "Earnings on account" means interest
contractually payable or dividends declared payable to holders of
deposit accounts in a savings bank.
(11) "Federal Deposit Insurance Corporation" includes
any successor.
(12) "Federal savings bank" means a savings bank
incorporated under the laws of the United States.
(13) "Finance commission" means the Finance
Commission of Texas.
(14) "Financial institution" has the meaning assigned
by Section 201.101.
(15) "Foreign savings bank" means a savings bank:
(A) organized under the laws of:
(i) a state of the United States other than
this state; or
(ii) the United States; and
(B) the principal office of which is located
outside this state.
(16) "Holding company" means a company that directly
or indirectly controls a savings bank or controls another company
that directly or indirectly controls a savings bank.
(16-a) "Limited savings bank" means a savings bank
electing to be organized as a limited liability company under this
subtitle.
(17) "Loss reserves" means the aggregate amount of the
reserves allocated by a savings bank solely to absorb losses.
(18) "Member" means:
(A) with respect to a mutual savings bank, a
person:
(i) holding an account with the mutual
savings bank;
(ii) assuming or obligated on a loan in
which the mutual savings bank has an interest; or
(iii) owning property that secures a loan
in which the mutual savings bank has an interest; or
(B) with respect to a savings bank organized as a
limited savings bank, a person who owns a membership interest in the
limited savings bank.
(19) "Mutual savings bank" means a savings bank not
authorized to issue capital stock.
(20) "Regulatory capital" means a common stockholders'
equity, including retained earnings, noncumulative perpetual
preferred stock and related earnings, minority interests in the
equity accounts of fully consolidated subsidiaries, and other
elements established by rules of the finance commission.
(21) "Savings bank" means an institution organized
under or subject to this subtitle.
(22) "Shareholder" means the owner of capital stock.
(23) "Surplus" means the aggregate amount of:
(A) the undistributed earnings of a savings bank
held as undivided profits or unallocated reserves for general
corporate purposes; and
(B) paid-in surplus held by the savings bank.
(24) "Unsafe and unsound practice" means an action or
inaction in the operation of a savings bank that is likely to:
(A) cause insolvency or substantial dissipation
of assets or earnings; or
(B) reduce the ability of the savings bank to
timely satisfy withdrawal requests of deposit account holders.
(25) "Withdrawal value of deposit account" means the
net amount of money that may be withdrawn by an account holder from
a deposit account after applying any legal or contractual
reduction.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 1999, 76th Leg., ch. 62, § 7.32(a), eff. Sept. 1, 1999;
Acts 2001, 77th Leg., ch. 867, § 33, eff. Sept. 1, 2001; Acts
2003, 78th Leg., ch. 172, § 1, eff. Sept. 1, 2003; Acts 2005,
79th Leg., ch. 1018, § 5.02, eff. Sept. 1, 2005.
Section: 89.007 89.008 89.051 89.052 89.101 89.102 91.001 91.002 91.003 91.004 91.005 91.006 91.007 92.001 92.051
Last modified: August 10, 2007
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