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Texas Finance Code - Section 92.204. Qualified Thrift Lender Test

Legal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Section 92.204. Qualified Thrift Lender Test

§ 92.204.  QUALIFIED THRIFT LENDER TEST.  (a) A savings 
bank must:        
		(1)  qualify under and continue to meet                                       
		the qualified thrift lender test of Section 10(m), Home 
Owners' Loan Act (12 U.S.C. Section 1467a(m));  or
		(2)  maintain more than 50 percent of its portfolio 
assets in qualified thrift assets on a monthly average basis in at 
least nine out of 12 months.
	(b)  For purposes of Subsection (a)(2), "qualified thrift 
assets" means:     
		(1)  qualified thrift investments as defined by 12 
U.S.C. Section 1467a(m)(4)(C);  and
		(2)  other assets determined by the commissioner, under 
rules adopted by the finance commission, to be substantially 
equivalent to qualified thrift investments described by 
Subdivision (1) or which further residential lending or community 
development.
	(c)  The commissioner may grant temporary or limited 
exceptions to the requirements of this section as the commissioner 
considers necessary.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.  Amended 
by Acts 1999, 76th Leg., ch. 62, § 7.34(a), eff. Sept. 1, 1999;  
Acts 2005, 79th Leg., ch. 1018, § 5.07, eff. Sept. 1, 2005.

Last modified: August 10, 2007