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Texas Finance Code - Chapter 96 Supervision And RegulationLegal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Chapter 96 Supervision And Regulation The Savings and Loan Department and the commissioner shall regulate savings banks and subsidiaries of savings banks operating under this subtitle. Acts 1997, 75th Leg., ... (a) The finance commission may adopt rules necessary to supervise and regulate savings banks and to protect public investment in savings banks, including rules relating ... (a) Not later than the 90th day after the date its fiscal year closes, a savings bank shall obtain an audit by an independent accounting ... (a) Before March 1 of each year, a savings bank shall provide to the commissioner on a form to be prescribed and furnished by the ... (a) The commissioner shall periodically examine the affairs of each savings bank and its subsidiaries and the transactions of any holding company that are related ... (a) The commissioner at the saving bank's cost may perform an additional examination or audit or devote extraordinary attention to a savings bank's affairs if ... The commissioner, a deputy commissioner, or an examiner or auditor of the commissioner shall be given free access to: (1) the books and records of ... (a) In an examination conducted under this subchapter, the commissioner, the deputy commissioner, or an examiner or auditor of the commissioner may: (1) subpoena witnesses; ... (a) The commissioner may intervene in the affairs of a savings bank if the savings bank or a person who participates in the affairs of ... The commissioner may intervene in the affairs of a savings bank if the savings bank or a person who participates in the affairs of the ... (a) The commissioner may intervene in the affairs of a savings bank if a person who participates in the affairs of the savings bank or ... (a) The commissioner may intervene in the affairs of a savings bank if a person who participates in the affairs of the savings bank or ... (a) If the commissioner has reasonable cause to believe that one or more grounds for intervention under Sections 96.101-96.104 exist or are imminent, the commissioner ... (a) A temporary supervisory order may be served by personal delivery by an agent of the commissioner or by certified or registered mail. (b) Service ... (a) A temporary supervisory order issued under Section 96.105 becomes final and unappealable on the 15th day after the date on which it is issued ... (a) Before or during a hearing under Section 96.107 on a temporary supervisory order placing a savings bank under the control of a conservator, the ... (a) The commissioner, after giving notice, may assess against a savings bank or another person designated in a final supervisory order who violates the order, ... (a) A temporary supervisory order may not be stayed pending a hearing unless the commissioner orders a stay. (b) A final supervisory order may not ... (a) The commissioner shall report promptly to the finance commission when a supervisory order is issued under this chapter. The commissioner shall furnish information about ... If the commissioner does not approve a plan to continue the operation of a savings bank under Section 96.108, the conservator shall continue to manage ... (a) The conservator and any deputy or assistant conservator appointed by the commissioner, under the direction and supervision of the commissioner, shall: (1) take possession ... The conservator shall serve until the purposes of the conservatorship are accomplished. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ... If the savings bank is rehabilitated to the satisfaction of the commissioner, the conservator shall return the management of the savings bank to the savings ... During the conservatorship, a person who participates in the affairs of the savings bank shall act according to the conservator's instructions and may exercise only ... (a) During a conservatorship, the commissioner by order may impose limitations on withdrawals from deposit accounts if the commissioner determines that the interests of deposit ... (a) A limiting order may be served by personal delivery by an agent of the commissioner or by certified or registered mail. (b) Service is ... (a) Immediately after receiving a limiting order, the conservator shall post a copy of the order at the main entrance of the savings bank. (b) ... (a) The limiting order becomes final and unappealable on the 15th day after the date on which the order is posted as provided by Section ... (a) A limiting order may not be stayed pending a hearing unless the commissioner orders a stay. (b) A final order may not be stayed ... (a) The commissioner shall determine the cost of the conservatorship. (b) The cost of the conservatorship shall be paid from the savings bank's assets as ... A suit filed against a savings bank or its conservator while a conservatorship order is in effect must be brought in Travis County. Acts 1997, ... (a) A savings bank's board may consent to the commissioner's placement of the savings bank under supervisory control. (b) The commissioner may appoint the supervisor ... A supervisor or deputy supervisor has the powers of a conservator under Subchapter D and any other power established by agreement between the commissioner and ... The cost of the supervisory control of a savings bank shall be set by the commissioner and paid by the savings bank. Acts 1997, 75th ... A savings bank's board, by resolution and with the commissioner's consent, may close the savings bank and tender to the commissioner for disposition as provided ... The commissioner or the commissioner's representative may close a savings bank if the commissioner determines after an examination that: (1) the interests of the deposit ... (a) On closing a savings bank under this subchapter, the commissioner may: (1) liquidate the savings bank as provided by Subchapter G; or (2) tender ... (a) Not later than the second day, excluding legal holidays, after the date on which the commissioner closes a savings bank under Section 96.252, the ... (a) If the commissioner doubts that a savings bank subject to a conservatorship order can be rehabilitated, the commissioner may close the savings bank as ... (a) The commissioner, with or without cause, may remove a liquidating agent and appoint another agent. (b) If a liquidating agent resigns, dies, or otherwise ... (a) Under the commissioner's supervision, the liquidating agent shall: (1) receive and take possession of the books, records, assets, and property of the savings bank; ... (a) Under the commissioner's supervision, the liquidating agent shall give notice to creditors and deposit account holders directing them to present and prove their claims ... (a) To be entitled to priority, each person asserting a claim against a savings bank being liquidated under this subchapter must present the claim in ... When a savings bank is liquidated, claims for payment have the same priority that similar claims have when a federal savings bank is liquidated under ... (a) Within three months after the date of receipt of a claim against a savings bank being liquidated, the liquidating agent shall approve or reject ... (a) A claimant may appeal an adverse determination of a claim by filing suit on the claim in a district court of Travis County within ... (a) The liquidating agent may not pay a final dividend before the first day of the 19th month after the date notice is first published ... The liquidating agent shall deposit all unclaimed dividends and all money available for nonclaiming deposit account holders and creditors in one or more state-chartered financial ... (a) Except as provided by Subsection (b), the liquidating agent, on demand, shall pay a deposit account holder or creditor of the savings bank who ... (a) The commissioner shall determine the cost of the liquidation. (b) The cost of liquidation shall be paid from the savings bank's assets as the ... After paying a final dividend as provided by Section 96.309 and performing any necessary or proper action in liquidating the savings bank's assets for the ... For the purpose of adjusting and settling claims not disposed of during the liquidation, the savings bank continues to exist until the third anniversary of ... At the completion of the liquidation, the commissioner may appoint a special liquidating agent if necessary to adjust and settle undisposed claims. Acts 1997, 75th ... (a) The liquidating agent shall certify the completion of the liquidation to the commissioner, who shall then issue an order closing the liquidation. (b) After ... The procedures for a contested case hearing under Chapter 2001, Government Code, apply to a hearing set by the commissioner under this subchapter. Acts 1997, ... Except as otherwise provided by this subtitle or a rule adopted under this subtitle, the following are confidential and may not be disclosed by the ... This subchapter does not prevent the proper exchange of information relating to savings banks with a representative of a regulatory authority of another state or ... (a) Confidential information that is provided to a financial institution or an affiliate or service provider of a financial institution, whether in the form of ... Discovery of confidential information from a person subject to this subchapter under subpoena or other legal process must comply with rules adopted under this subtitle. ... (a) Notwithstanding any other law, the commissioner may refuse to release information or records in the custody of the Savings and Loan Department if the ... Unless the commissioner determines that a good reason exists to make the report public, a report of an examination made to the commissioner is confidential. ... A person who violates this subchapter or who wilfully makes a false official report on the condition of a financial institution shall be removed from ... (a) The commissioner may bring a derivative suit on behalf of a savings bank on an unpursued cause of action if: (1) the commissioner determines ... If the Federal Deposit Insurance Corporation pays the insured deposit liabilities of a savings bank that has been closed or is being liquidated under this ... If a promise or agreement to lend money is not otherwise unenforceable under Chapter 26, Business & Commerce Code, and if the promise or agreement ... (a) A savings bank or a director, officer, employee, or representative of a savings bank may not give a loan or gratuity, directly or indirectly, ... (a) The commissioner or an employee of the Savings and Loan Department may hold a deposit account at a savings bank and receive earnings on ... Last modified: August 10, 2007 |