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• Texas Finance Code Section 1.001 - Purpose Of Code
  (a) This code is enacted as a part of the state's continuing statutory revision program, begun by the Texas Legislative Council in 1963 as directed ...
• Texas Finance Code Section 1.002 - Construction Of Code
  Chapter 311, Government Code (Code Construction Act), applies to the construction of each provision in this code except as otherwise expressly provided by this code. ...
• Texas Finance Code Section 1.003 - Reference In Law To Statute Revised By Code
  A reference in a law to a statute or a part of a statute revised by this code is considered to be a reference to ...
• Texas Finance Code Section 11.001 - Definitions
  (a) The definitions provided by Section 31.002 apply to this chapter. (b) In this chapter, "finance agency" means: (1) the Texas Department of Banking; (2) ...
• Texas Finance Code Section 11.002 - Purpose Of Commission; Strategic Plan
  (a) The finance commission is responsible for overseeing and coordinating the Texas Department of Banking, the Savings and Loan Department, and the Office of Consumer ...
• Texas Finance Code Section 11.101 - Appointment; Terms; Oath
  (a) The Finance Commission of Texas is composed of nine members appointed by the governor with the advice and consent of the senate. (b) Members ...
• Texas Finance Code Section 11.102 - Qualifications Of Members
  (a) A member of the finance commission must be a registered voter of this state. Not more than two members may be residents of the ...
• Texas Finance Code Section 11.1021 - Conflict Of Interest
  (a) In this section, "Texas trade association" means a cooperative and voluntarily joined association of business or professional competitors in this state designed to assist ...
• Texas Finance Code Section 11.103 - Removal Of Members
  (a) It is a ground for removal from the finance commission that a member: (1) does not have at the time of taking office the ...
• Texas Finance Code Section 11.104 - Expenses And Compensation Of Members
  A member of the finance commission is entitled to: (1) the reimbursement for reasonable and necessary expenses incidental to travel incurred in connection with the ...
• Texas Finance Code Section 11.105 - Matter In Which Member Has Personal Interest
  A member of the finance commission may not act or participate in the portion of a commission meeting during which the matter considered specifically relates ...
• Texas Finance Code Section 11.106 - Meetings
  (a) The finance commission shall hold at least six regular public meetings during each calendar year on dates set by the commission. (b) The presiding ...
• Texas Finance Code Section 11.107 - Presiding Officer
  (a) The governor shall appoint a member of the finance commission as presiding officer of the commission. The presiding officer serves at the will of ...
• Texas Finance Code Section 11.108 - Sunset Provision
  The finance commission is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the commission is ...
• Texas Finance Code Section 11.109 - Standards Of Conduct
  The presiding officer of the finance commission or the presiding officer's designee shall provide to members of the finance commission, as often as necessary, information ...
• Texas Finance Code Section 11.110 - Training
  (a) A person who is appointed to and qualifies for office as a member of the finance commission may not vote, deliberate, or be counted ...
• Texas Finance Code Section 11.111 - Separation Of Functions
  The finance commission shall develop and implement policies that clearly separate the policymaking responsibilities of the finance commission and the management responsibilities of the banking ...
• Texas Finance Code Section 11.112 - Public Testimony
  The finance commission shall develop and implement policies that provide the public with a reasonable opportunity to appear before the finance commission and to speak ...
• Texas Finance Code Section 11.202 - Hearings Officer And Auditor
  (a) The finance commission shall direct a finance agency to employ an internal auditor to provide services to and facilitate commission oversight and control over ...
• Texas Finance Code Section 11.203 - Limitation On Direction Of Auditor
  The internal auditor reports to the finance commission and is not subject to direction by the employing finance agency. Acts 1997, 75th Leg., ch. 1008, ...
• Texas Finance Code Section 11.204 - Sharing Of Staff, Equipment, And Facilities; Allocation Of Costs
  (a) The finance commission shall use the staff, equipment, and facilities of the finance agencies to the extent necessary to carry out the finance commission's ...
• Texas Finance Code Section 11.301 - Banking Rules
  The finance commission may adopt banking rules as provided by Section 31.003. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 11.302 - Savings Association And Savings Bank Rules
  (a) The finance commission may adopt rules applicable to state savings associations or to savings banks and may authorize state savings associations and savings banks ...
• Texas Finance Code Section 11.303 - Disclosure Of Certain Information To Finance Commission Prohibited
  Information regarding the financial condition of a state savings association or savings bank obtained through examination or otherwise may not be disclosed to a member ...
• Texas Finance Code Section 11.304 - Consumer Credit Rules
  The finance commission may adopt rules necessary to supervise the consumer credit commissioner and ensure compliance with Chapter 14 and Title 4. Acts 1997, 75th ...
• Texas Finance Code Section 11.305 - Research
  (a) The finance commission shall instruct the consumer credit commissioner to establish a program to address alternatives to high-cost lending in this state. The program ...
• Texas Finance Code Section 11.3055 - Financial Services Study
  (a) The finance commission may assign the banking commissioner, savings and loan commissioner, or consumer credit commissioner to conduct research on: (1) the availability, quality, ...
• Texas Finance Code Section 11.306 - Mortgage Broker Rules
  The finance commission may adopt mortgage broker rules as provided by Chapter 156. Added by Acts 1999, 76th Leg., ch. 1254, § 1, eff. Sept. ...
• Texas Finance Code Section 11.307 - Rules Relating To Consumer Complaints
  (a) The finance commission shall adopt rules applicable to each entity regulated by the Texas Department of Banking or the Savings and Loan Department specifying ...
• Texas Finance Code Section 11.308 - Interpretation Of Home Equity Lending Law
  The finance commission may, on request of an interested person or on its own motion, issue interpretations of Sections 50(a)(5)-(7), (e)-(p), (t), and (u), Article ...
• Texas Finance Code Section 12.001 - Definitions
  The definitions provided by Section 31.002 apply to this chapter. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 12.101 - Banking Commissioner
  (a) The banking commissioner is the chief executive officer of the Texas Department of Banking. The finance commission, by at least five affirmative votes, shall ...
• Texas Finance Code Section 12.102 - Deputy Banking Commissioners
  (a) The banking commissioner shall appoint one or more deputy banking commissioners as necessary to the efficient operation of the department. The banking commissioner shall ...
• Texas Finance Code Section 12.103 - Compensation Of Employees Of Department
  (a) Chapter 654, Government Code, applies to a department position only if the position is classified in salary groups 1-10 under the General Appropriations Act. ...
• Texas Finance Code Section 12.104 - Oath Of Office
  Before assuming the duties of office, each deputy banking commissioner, examiner, assistant examiner, conservator, supervisor, and special agent, and each other officer or employee specified ...
• Texas Finance Code Section 12.105 - Fees, Revenue, And Expenses; Audit
  (a) The finance commission shall establish reasonable and necessary fees for the administration of this chapter, Chapter 11, Chapter 13, and Subtitle A, Title 3. ...
• Texas Finance Code Section 12.106 - Liability
  (a) The banking commissioner, a member of the finance commission, a deputy banking commissioner, an examiner, assistant examiner, supervisor, conservator, agent, or other officer or ...
• Texas Finance Code Section 12.107 - Conflict Of Interest
  (a) In this section, "Texas trade association" means a cooperative and voluntarily joined association of business or professional competitors in this state that: (1) is ...
• Texas Finance Code Section 12.108 - Consumer Information And Complaints
  (a) The banking commissioner shall: (1) prepare information of consumer interest describing: (A) the regulatory functions of the department; and (B) the department's procedures by ...
• Texas Finance Code Section 12.109 - Sunset Provision
  The office of banking commissioner is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the ...
• Texas Finance Code Section 12.111 - Standards Of Conduct
  The banking commissioner or the banking commissioner's designee shall provide to agency employees, as often as necessary, information regarding the requirements for office or employment ...
• Texas Finance Code Section 12.112 - Equal Employment Opportunity Policy
  (a) The banking commissioner or the banking commissioner's designee shall prepare and maintain a written policy statement that implements a program of equal employment opportunity ...
• Texas Finance Code Section 12.113 - Employee Incentive Program
  The banking commissioner or the banking commissioner's designee shall provide to agency employees information and training on the benefits and methods of participation in the ...
• Texas Finance Code Section 13.001 - Definitions
  The definitions provided by Section 31.002 apply to this chapter. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 13.0015 - Name Changes
  (a) The Savings and Loan Department is renamed the Department of Savings and Mortgage Lending and the savings and loan commissioner is renamed the savings ...
• Texas Finance Code Section 13.002 - Savings And Loan Commissioner
  (a) The savings and loan commissioner is the chief executive officer of the Savings and Loan Department. The finance commission, by at least five affirmative ...
• Texas Finance Code Section 13.003 - Deputy Commissioners
  (a) The savings and loan commissioner shall appoint one or more deputy savings and loan commissioners. (b) One deputy savings and loan commissioner must have ...
• Texas Finance Code Section 13.004 - Examiners
  The savings and loan commissioner shall appoint savings association and savings bank examiners. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 13.005 - Compensation Of Officers And Employees
  (a) Subject to Subsection (b), each officer and employee of the Savings and Loan Department is entitled to compensation set by the finance commission. The ...
• Texas Finance Code Section 13.006 - Oath Of Office
  Before assuming the duties of office, each deputy savings and loan commissioner, examiner, assistant examiner, conservator, supervisor, and special agent and each other officer or ...
• Texas Finance Code Section 13.007 - General Powers And Duties Of Commissioner
  The savings and loan commissioner shall: (1) supervise and regulate the organization, operation, and liquidation of state savings associations, as provided by Subtitle B, Title ...
• Texas Finance Code Section 13.008 - Fees, Revenue, And Expenses; Audit
  (a) The finance commission shall establish reasonable and necessary fees for the administration of Subtitles B and C, Title 3, and Chapters 156 and 157, ...
• Texas Finance Code Section 13.009 - Conflicts Of Law
  If this chapter conflicts with Subtitle B or C, Title 3, this chapter controls. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 13.010 - Conflicts Of Interest
  (a) In this section, "Texas trade association" means a cooperative and voluntarily joined association of business or professional competitors in this state designed to assist ...
• Texas Finance Code Section 13.011 - Consumer Information And Complaints
  (a) The savings and loan commissioner shall prepare information of consumer interest describing: (1) the regulatory functions of the Savings and Loan Department; and (2) ...
• Texas Finance Code Section 13.012 - Sunset Provision
  The office of savings and loan commissioner and the Savings and Loan Department are subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued ...
• Texas Finance Code Section 13.013 - Standards Of Conduct
  The savings and loan commissioner or the savings and loan commissioner's designee shall provide to agency employees, as often as necessary, information regarding the requirements ...
• Texas Finance Code Section 13.014 - Equal Employment Opportunity Policy
  (a) The savings and loan commissioner or the savings and loan commissioner's designee shall prepare and maintain a written policy statement that implements a program ...
• Texas Finance Code Section 13.015 - Employee Incentive Program
  The savings and loan commissioner or the savings and loan commissioner's designee shall provide to agency employees information and training on the benefits and methods ...
• Texas Finance Code Section 14.001 - Definitions
  (a) In this chapter: (1) "Document" includes books, accounts, correspondence, records, and papers. (2) "Office" means the Office of Consumer Credit Commissioner. (b) The definitions ...
• Texas Finance Code Section 14.051 - Consumer Credit Commissioner
  (a) The finance commission shall appoint the commissioner. (b) The commissioner: (1) serves at the will of the commission; and (2) is subject to orders ...
• Texas Finance Code Section 14.052 - Division Of Consumer Protection
  The division of consumer protection is a division in the office and is under the direction of the commissioner. Acts 1997, 75th Leg., ch. 1008, ...
• Texas Finance Code Section 14.053 - Compensation Of Employees Of Office
  (a) Chapter 654, Government Code, applies to an office position only if the position is classified in salary groups 1-10 under the state's position classification ...
• Texas Finance Code Section 14.054 - Oath Of Office.
  Before assuming the duties of office, the commissioner and each assistant commissioner, examiner, and other employee of the office must take an oath of office ...
• Texas Finance Code Section 14.055 - Liability
  (a) The commissioner or an assistant commissioner, examiner, or other employee of the office is not personally liable for damages arising from the person's official ...
• Texas Finance Code Section 14.056 - Conflict Of Interest
  (a) In this section, "Texas trade association" means a cooperative and voluntarily joined association of business or professional competitors in this state designed to assist ...
• Texas Finance Code Section 14.057 - Performance Evaluations; Merit Pay
  (a) The commissioner or a person designated by the commissioner shall develop a system of annual employee performance evaluations based on measurable job tasks. (b) ...
• Texas Finance Code Section 14.058 - Equal Employment Opportunity
  (a) The commissioner or the commissioner's designee shall prepare and maintain a written policy statement that implements a program of equal employment opportunity to ensure ...
• Texas Finance Code Section 14.059 - Intra-Agency Career Ladder
  (a) The commissioner or a person designated by the commissioner shall develop an intra-agency career ladder program. (b) The program must require intra-agency posting of ...
• Texas Finance Code Section 14.060 - Financial Oversight
  (a) The commissioner, on the direction of the finance commission, shall report to the finance commission on all the receipts and expenditures of the office. ...
• Texas Finance Code Section 14.061 - Cost Of Audit
  The cost of an audit of the office under Chapter 321, Government Code, shall be paid to the state auditor from the funds of the ...
• Texas Finance Code Section 14.062 - Consumer Information And Complaints
  (a) The office shall maintain a file on each written complaint filed with the office. The file must include: (1) the name of the person ...
• Texas Finance Code Section 14.063 - Application Of Open Meetings Law
  The office is a governmental body subject to Chapter 551, Government Code. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 14.064 - Consumer Information
  The commissioner shall: (1) prepare information of consumer interest describing: (A) the regulatory functions of the office; and (B) the office's procedures by which consumer ...
• Texas Finance Code Section 14.065 - Office Employees
  The commissioner may appoint, remove, and prescribe the duties of assistant commissioners, examiners, and other employees as necessary to maintain and operate the office, including ...
• Texas Finance Code Section 14.066 - Sunset Provision
  The office is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the office is abolished ...
• Texas Finance Code Section 14.067 - Employee Incentive Program
  The commissioner or the commissioner's designee shall provide to agency employees information and training on the benefits and methods of participation in the state employee ...
• Texas Finance Code Section 14.101 - General Duties Of Commissioner
  The commissioner shall enforce this chapter, Subtitles B and C of Title 4, and Chapter 394 in person or through an assistant commissioner, examiner, or ...
• Texas Finance Code Section 14.102 - Educational And Debt Counseling Programs
  The commissioner shall coordinate, encourage, and assist public and private agencies, organizations, groups, and consumer credit institutions in developing and operating voluntary educational and debt ...
• Texas Finance Code Section 14.103 - Consumer Protection Programs
  The commissioner, through the division of consumer protection, shall coordinate, encourage, and assist public and private agencies, organizations, groups, and consumer protection institutions in developing ...
• Texas Finance Code Section 14.104 - Lender Contracts
  A written contract of an authorized lender subject to regulation by the office must contain the name, mailing address, and telephone number of the office. ...
• Texas Finance Code Section 14.105 - Gifts And Grants
  (a) The commissioner may accept money, gifts, or grants on behalf of the state for a purpose related to a consumer credit educational opportunity or ...
• Texas Finance Code Section 14.106 - Information Regarding Employment Requirements
  The commissioner or the commissioner's designee shall provide to agency employees, as often as necessary, information regarding the requirements for employment under this chapter, including ...
• Texas Finance Code Section 14.107 - Fees
  (a) The finance commission shall establish reasonable and necessary fees for carrying out the commissioner's powers and duties under this chapter, Title 4, and Chapters ...
• Texas Finance Code Section 14.108 - Interpretations Of Law
  (a) The commissioner may issue an interpretation of this chapter or Subtitle A or B, Title 4, after approval of the interpretation by the finance ...
• Texas Finance Code Section 14.151 - Obtaining Information
  (a) The commissioner or an assistant commissioner, examiner, or other employee of the office shall obtain criminal history record information maintained by the Department of ...
• Texas Finance Code Section 14.152 - Fingerprint Requirement; Penalty
  The commissioner may refuse to grant a license to, or may suspend or revoke the license of, an applicant or license holder who fails to ...
• Texas Finance Code Section 14.153 - Action By Law Enforcement Agencies
  (a) The commissioner shall send fingerprints and other identification information to the Department of Public Safety to be retained by that department. (b) The Department ...
• Texas Finance Code Section 14.154 - Confidentiality
  (a) Criminal history record information received by the office is confidential and is for the exclusive use of the office. (b) Except on court order ...
• Texas Finance Code Section 14.155 - Disclosure; Offense
  (a) The office may not provide a person being investigated under this subchapter with a copy of the person's criminal history record obtained from the ...
• Texas Finance Code Section 14.156 - Recovery Of Costs
  In addition to an investigation fee paid to the commissioner by a license applicant, the commissioner is entitled to recover from an applicant or license ...
• Texas Finance Code Section 14.157 - Rules
  The finance commission shall adopt rules governing the custody and use of information obtained under this subchapter. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 14.201 - Investigation And Enforcement Authority
  Investigative and enforcement authority under this subchapter applies only to this chapter, Subtitles B and C of Title 4, and Chapter 394. Acts 1997, 75th ...
• Texas Finance Code Section 14.202 - Request For Information; Failure To Comply
  (a) On receipt of a written complaint or other reasonable cause to believe that a person is violating a statute listed by Section 14.201, the ...
• Texas Finance Code Section 14.203 - Issuance Of Subpoena Or Summons
  (a) During an investigation, the commissioner may issue a subpoena or summons that is addressed to a peace officer of this state and requires the ...
• Texas Finance Code Section 14.204 - Enforcement Of Subpoena; Contempt
  (a) If a person disobeys a subpoena or if a witness appearing before the commissioner refuses to testify, the commissioner may petition the district court ...
• Texas Finance Code Section 14.205 - Investigation By Hearing Officer
  (a) During an investigation described by this subchapter, the commissioner may appoint a hearing officer to conduct the investigation. (b) On appointment, a hearing officer ...
• Texas Finance Code Section 14.206 - Fees And Expenses
  (a) The fee for serving a subpoena under this subchapter is the same as that paid a sheriff or constable for performing a similar service. ...
• Texas Finance Code Section 14.207 - Imposition Of Costs On Parties
  The commissioner may impose on a party in interest of record fees, expenses, or costs incurred in connection with a hearing or may divide the ...
• Texas Finance Code Section 14.208 - Injunction; Appeal
  (a) If the commissioner has reasonable cause to believe that a person is violating a statute to which this chapter applies, the commissioner, in addition ...
• Texas Finance Code Section 14.209 - Appointment Of Receiver
  (a) In addition to other remedies for the enforcement of a restraining order or injunction, the court in which an action is brought under Section ...
• Texas Finance Code Section 14.251 - Assessment Of Penalty; Restitution Order
  (a) The commissioner may assess an administrative penalty against a person who knowingly and wilfully violates or causes a violation of this chapter, Chapter 394, ...
• Texas Finance Code Section 14.252 - Amount Of Penalty
  (a) The commissioner may assess an administrative penalty for a violation in an amount not to exceed $1,000 for each day of the violation. (b) ...
• Texas Finance Code Section 14.253 - Report On Violation
  If the commissioner determines that a violation occurred, the commissioner may issue a report that states: (1) the facts on which the determination is based; ...
• Texas Finance Code Section 14.254 - Notice Of Report On Violation And Penalty Recommendation
  (a) Not later than the 14th day after the date on which a report is issued, the commissioner shall give written notice of the report ...
• Texas Finance Code Section 14.255 - Response Of Person Receiving Notice
  Not later than the 20th day after the date on which a person receives notice under Section 14.254, the person may: (1) accept in writing ...
• Texas Finance Code Section 14.256 - Acceptance Of Penalty
  If a person accepts the determination and recommended penalty of the commissioner, the commissioner by order shall approve the determination and impose the recommended penalty. ...
• Texas Finance Code Section 14.257 - Hearing On Penalty; Order
  (a) If a person requests a hearing or fails to give a timely response to the notice, the commissioner shall set a hearing and give ...
• Texas Finance Code Section 14.258 - Stay Of Penalty; Suit By Attorney General
  (a) The enforcement of the penalty may be stayed during the time the order is under judicial review if the person pays the penalty to ...
• Texas Finance Code Section 14.259 - Recovery Of Costs
  In addition to the administrative penalty or restitution amount, the court may authorize the commissioner to recover from a person who pays an administrative penalty ...
• Texas Finance Code Section 14.260 - Administrative Procedure Act
  A proceeding under this subchapter is subject to Chapter 2001, Government Code. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 14.261 - Acceptance Of Assurance
  (a) In administering this chapter, the commissioner may accept assurance of voluntary compliance from a person who is engaging in or has engaged in an ...
• Texas Finance Code Section 14.262 - Effect Of Assurance
  (a) An assurance of voluntary compliance is not an admission of a violation of: (1) this chapter or a rule adopted under this chapter; (2) ...
• Texas Finance Code Section 14.263 - Reopening
  A matter closed by the filing of an assurance of voluntary compliance may be reopened at any time. Added by Acts 2005, 79th Leg., ch. ...
• Texas Finance Code Section 14.264 - Right To Bring Action Not Affected
  (a) An assurance of voluntary compliance does not affect the right of an individual to bring an action, except as provided in Chapter 349 and ...
• Texas Finance Code Section 14.301 - Appeal Of Final Decision Of Commissioner
  A party in interest aggrieved by a final decision of the commissioner is entitled to judicial review. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 14.302 - Appeal Of License Withholding Or Revocation
  An appeal of a decision of the commissioner refusing to grant a license to an applicant or revoking the license of a license holder shall ...
• Texas Finance Code Section 14.303 - Stay Of Order Pending Appeal
  On a showing of good cause, the commissioner or the reviewing court may enter an order staying the effect of a final decision of the ...
• Texas Finance Code Section 15.001 - Definitions
  (a) In this chapter, "trade association" means a nonprofit, cooperative, and voluntarily joined association of business or professional competitors designed to assist its members and ...
• Texas Finance Code Section 15.101 - Composition Of Department
  The department is composed of: (1) the commission; (2) the commissioner; and (3) other department officers and employees. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 15.102 - Regulation Of Credit Unions
  The department shall supervise and regulate credit unions as provided by this chapter and Subtitle D, Title 3. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 15.103 - Study Of Statutes
  The department periodically shall comprehensively study the statutes of this state as they pertain to credit union operations. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 15.104 - Fiscal Report
  (a) The department shall annually prepare a complete and detailed written report accounting for all money received and disbursed by the department during the preceding ...
• Texas Finance Code Section 15.201 - Appointment; Terms
  (a) The commission is composed of nine members appointed by the governor with the advice and consent of the senate. (b) Commission members serve staggered ...
• Texas Finance Code Section 15.202 - General Qualifications Of Commission Members
  (a) No two commission members may be residents of the same state senatorial district. (b) A commission member may not be: (1) an officer, employee, ...
• Texas Finance Code Section 15.203 - Qualifications Of Industry Commission Members
  (a) Four commission members must be individuals who: (1) have five years or more of active experience as a director, officer, or committee member of ...
• Texas Finance Code Section 15.204 - Qualifications Of Public Commission Members
  (a) Five commission members must be representatives of the public. A person is not eligible for appointment as a public member of the commission if ...
• Texas Finance Code Section 15.2041 - Training Program
  (a) To be eligible to take office as a member of the commission, a person appointed to the commission must complete at least one course ...
• Texas Finance Code Section 15.205 - Vacancies
  The office of a commission member becomes vacant: (1) on the death, resignation, or removal of the member; or (2) if the member ceases to ...
• Texas Finance Code Section 15.206 - Removal
  (a) A ground for removal of a commission member by the governor exists if a member: (1) neglects the member's duty; (2) is incompetent; or ...
• Texas Finance Code Section 15.207 - Expenses And Compensation Of Commission Members
  (a) A commission member may not receive compensation or a benefit because of the member's service on the commission except as provided by Subsection (b). ...
• Texas Finance Code Section 15.208 - Matter In Which Commission Member Has Personal Interest
  (a) A commission member may not act on a matter under the commission's consideration that directly affects a credit union of which the member is ...
• Texas Finance Code Section 15.209 - Meetings
  (a) The commission shall hold at least two regular meetings each year. (b) The chairman, the commissioner, or five commission members may call a special ...
• Texas Finance Code Section 15.210 - Presiding Officer
  The governor shall designate a member of the commission as presiding officer of the commission to serve in that capacity at the will of the ...
• Texas Finance Code Section 15.211 - Suit For Official Act Or Omission
  (a) The attorney general shall defend an action brought against a commission member or an officer or employee of the commission because of the person's ...
• Texas Finance Code Section 15.212 - Sunset Provision
  The Credit Union Commission is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the commission ...
• Texas Finance Code Section 15.301 - Commissioner
  (a) The commission shall appoint a commissioner by affirmative vote of two-thirds of the membership of the commission. (b) The commissioner serves at the will ...
• Texas Finance Code Section 15.302 - Qualifications Of Commissioner
  (a) The commissioner must have at least five years' practical experience in the operation of credit unions during the 10 years preceding the commissioner's appointment. ...
• Texas Finance Code Section 15.303 - Deputy Commissioner
  (a) Subject to the commission's approval, the commissioner may appoint a deputy commissioner, who must have the qualifications required of the commissioner. (b) The deputy ...
• Texas Finance Code Section 15.304 - Examiners
  (a) The commissioner shall appoint a sufficient number of credit union examiners to perform fully the duties imposed by the laws of this state. (b) ...
• Texas Finance Code Section 15.305 - General Counsel
  A person who is required to register as a lobbyist under Chapter 305, Government Code, because of the person's activities for compensation on behalf of ...
• Texas Finance Code Section 15.306 - Oath
  Before assuming the duties of office, the commissioner, the deputy commissioner, each examiner, and each other officer or employee of the commission must take an ...
• Texas Finance Code Section 15.307 - Officers Of Commission And Department
  Each officer of the commission and department, except a commission member, is an employee of the commission and is subject to the commission's orders and ...
• Texas Finance Code Section 15.308 - Compensation Of Employees
  (a) The commission shall set the compensation of the commissioner and deputy commissioner. The compensation shall be paid according to the General Appropriations Act. (b) ...
• Texas Finance Code Section 15.309 - Intra-Agency Career Ladder
  (a) The commissioner or a person designated by the commissioner shall develop an intra-agency career ladder program that addresses opportunities for mobility and advancement for ...
• Texas Finance Code Section 15.310 - Performance Evaluation
  (a) The commissioner or a person designated by the commissioner shall develop a system of annual performance evaluations that are based on documented employee performance. ...
• Texas Finance Code Section 15.311 - Qualifications Of Employees
  A person may not be an employee of the department who is exempt from the state's position classification plan or is compensated at or above ...
• Texas Finance Code Section 15.312 - Information Provided To Members And Employees
  The commissioner or the commissioner's designee shall provide to members of the commission and to department employees, as often as necessary, information regarding their qualification ...
• Texas Finance Code Section 15.313 - Equal Employment Opportunity Policy
  (a) The commissioner or a person designated by the commissioner shall prepare and maintain a written policy statement to assure implementation of a program of ...
• Texas Finance Code Section 15.401 - Supervision Of Commissioner
  The commission shall supervise, consult with, and advise the commissioner. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 15.402 - Adoption Of Rules
  (a) The commission may adopt reasonable rules necessary to administer this chapter and to accomplish the purposes of Subtitle D, Title 3. (b) In adopting ...
• Texas Finance Code Section 15.4021 - Receipt Of Public Comments; Notice Of Commission Activities
  (a) The commission shall develop and implement policies that provide the public with a reasonable opportunity to appear before the commission and to speak on ...
• Texas Finance Code Section 15.4022 - Rules Relating To Competitive Bidding And Advertising
  (a) The commission may not adopt rules restricting competitive bidding or advertising by a credit union except to prohibit false, misleading, or deceptive practices. (b) ...
• Texas Finance Code Section 15.4023 - Separation Of Responsibilities
  The commission shall develop and implement policies that clearly separate the policy-making responsibilities of the commission and the management responsibilities of the commissioner and the ...
• Texas Finance Code Section 15.403 - Supervision And Regulation Of Credit Unions
  The commissioner shall supervise and regulate a credit union doing business in this state, other than a federal credit union, in accordance with this chapter ...
• Texas Finance Code Section 15.4031 - Credit Union Commissioner Hearing
  (a) The commissioner may convene a hearing to receive evidence and argument regarding any matter under this chapter or Subtitle D, Title 3, before the ...
• Texas Finance Code Section 15.4032 - Examination Of Related Entities
  (a) In accordance with rules adopted by the commission, the commissioner may examine, to the same extent as if the services or activities were performed ...
• Texas Finance Code Section 15.404 - Administration And Enforcement Of Statutes And Rules
  The commissioner shall administer and enforce this chapter and Subtitle D, Title 3, and rules adopted under this chapter and Subtitle D, Title 3. Acts ...
• Texas Finance Code Section 15.4041 - Issuance Of Interpretive Statements
  (a) The commissioner may issue interpretive statements containing matters of general policy to guide the public and credit unions, and may amend or repeal a ...
• Texas Finance Code Section 15.4042 - Issuance Of Opinion
  (a) In response to a specific request from a member of the public or the credit union industry, the commissioner may issue an opinion directly ...
• Texas Finance Code Section 15.4043 - Effect Of Interpretive Statement Or Opinion
  An interpretive statement or opinion issued under this subchapter does not have the force of law and is not a rule for the purposes of ...
• Texas Finance Code Section 15.405 - Legislative Recommendations
  The commissioner shall report the department's legislative recommendations to the legislature for consideration. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 15.406 - Attendance At Commission Meetings; Voting
  The commissioner shall attend meetings of the commission but may not vote at a meeting. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. ...
• Texas Finance Code Section 15.407 - Official Committees
  The chairman may appoint individuals who are not commission members to serve on official committees that are charged with evaluating industry methods or problems and ...
• Texas Finance Code Section 15.408 - Collection Of Money
  The commissioner shall collect all fees, charges, and revenues required to be paid by a credit union under Section 15.402(c). All money paid to the ...
• Texas Finance Code Section 15.409 - Consumer Information And Complaints
  (a) The commissioner shall: (1) supervise the preparation of public interest information describing: (A) functions of the department; (B) procedures for filing and resolving complaints; ...
• Texas Finance Code Section 15.4091 - Access To Department Facilities, Programs, And Services
  (a) The department shall comply with federal and state laws related to program and facility accessibility. (b) The commissioner shall prepare and maintain a written ...
• Texas Finance Code Section 15.410 - Share And Depositor Insurance Protection
  (a) The commission shall adopt, and the commissioner shall enforce, reasonable rules requiring a credit union to provide share and deposit insurance protection for credit ...
• Texas Finance Code Section 15.411 - Agreements With Other Regulators
  (a) The commissioner may enter into an agreement with any credit union supervisory agency regarding the examination or supervision of branch offices of credit unions ...
• Texas Finance Code Section 15.412 - Filing Group Return With The Internal Revenue Service
  (a) The commissioner may file a consolidated group return form with the Internal Revenue Service on behalf of all credit unions under the department's jurisdiction. ...
• Texas Finance Code Section 15.413 - Interpretation Of Home Equity Lending Law
  The commission may, on request of an interested person or on its own motion, issue interpretations of Sections 50(a)(5)-(7), (e)-(p), (t), and (u), Article XVI, ...
• Texas Finance Code Section 15.414 - Authority To Contract For Professional Or Personal Services
  For the purpose of carrying out the powers, duties, and responsibilities of the department, the commissioner may negotiate, contract, or enter into an agreement for ...
• Texas Finance Code Section 15.415 - Gifts Of Money Or Property
  The department may accept money or property by gift, bequest, devise, or otherwise for any department purpose authorized by this chapter and Subtitle D, Title ...
• Texas Finance Code Section 31.001 - Short Title
  This subtitle may be cited as the Texas Banking Act. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 31.002 - Definitions
  (a) In this subtitle: (1) "Affiliate" means a company that directly or indirectly controls, is controlled by, or is under common control with a bank ...
• Texas Finance Code Section 31.003 - Banking Rules
  (a) The finance commission may adopt rules to accomplish the purposes of this subtitle and Chapters 11, 12, and 13, including rules necessary or reasonable ...
• Texas Finance Code Section 31.004 - Unauthorized Banking
  (a) Except as otherwise provided by law, a person other than a depository institution authorized to conduct business in this state may not conduct the ...
• Texas Finance Code Section 31.005 - Implying That Person Is Bank
  (a) A person may not use the term "bank," "bank and trust," or a similar term or a character, ideogram, phonogram, phrase, or foreign language ...
• Texas Finance Code Section 31.006 - Liability Of Depository Institution Directors And Personnel
  (a) The provisions of the Texas Business Corporation Act regarding liability, defenses, and indemnification of a director, officer, agent, or employee of a corporation apply ...
• Texas Finance Code Section 31.007 - Exemption Of Bank Directors And Personnel From Securities Law
  (a) An officer, director, manager, managing participant, or employee of a bank that has its main office or a branch located in this state with ...
• Texas Finance Code Section 31.101 - General Duties Of Banking Commissioner
  The banking commissioner shall: (1) supervise and regulate, as provided by this subtitle, Subtitles F and G, and Chapter 12, state banks, trust companies, and ...
• Texas Finance Code Section 31.102 - Issuance Of Interpretive Statements
  (a) The banking commissioner may issue interpretive statements containing matters of general policy to guide the public and state banks, and may amend or repeal ...
• Texas Finance Code Section 31.103 - Issuance Of Opinion
  (a) In response to a specific request from a member of the public or the banking industry, the banking commissioner may issue an opinion directly ...
• Texas Finance Code Section 31.104 - Effect Of Interpretive Statement Or Opinion
  An interpretive statement or opinion issued under this subchapter does not have the force of law and is not a rule for the purposes of ...
• Texas Finance Code Section 31.105 - Examination Required
  (a) The banking commissioner shall examine each state bank not less than once during each 12-month period, except that this examination is required not less ...
• Texas Finance Code Section 31.106 - Cost Of Regulation
  Each state bank shall pay, through the imposition and collection of fees established by the finance commission under Section 31.003(a)(4): (1) the cost of examination; ...
• Texas Finance Code Section 31.107 - Regulation And Examination Of Related Entities
  (a) The banking commissioner may regulate and examine, to the same extent as if the services or activities were performed by a state bank on ...
• Texas Finance Code Section 31.108 - Call Report; Penalty
  (a) A state bank shall file with the banking commissioner a copy of its call report stating the bank's financial condition and results of operation. ...
• Texas Finance Code Section 31.201 - Banking Commissioner Hearing
  (a) The banking commissioner may convene a hearing to receive evidence and argument regarding any matter within the jurisdiction of and before the banking commissioner ...
• Texas Finance Code Section 31.202 - Appeal Of Banking Commissioner Decision Or Order
  Except as expressly provided otherwise by this subtitle, an appellant may appeal a decision or order of the banking commissioner made under this subtitle or ...
• Texas Finance Code Section 31.203 - Appeal To Finance Commission
  (a) In an appeal to the finance commission, the finance commission shall consider the questions raised by the application for review and may also consider ...
• Texas Finance Code Section 31.204 - Direct Appeal To Court Or Appeal Of Finance Commission Order
  A person affected by a final order of the banking commissioner who elects to appeal directly to district court, or a person affected by a ...
• Texas Finance Code Section 31.301 - Disclosure By Department Prohibited
  (a) Except as expressly provided otherwise by this subtitle, Chapter 11 or 12, or a rule adopted under this subtitle, the following are confidential and ...
• Texas Finance Code Section 31.302 - Disclosure To Finance Commission
  Confidential information may not be disclosed to a member of the finance commission, and a member of the commission may not be given access to ...
• Texas Finance Code Section 31.303 - Disclosure To Other Agencies
  (a) For purposes of this section: (1) "Affiliated group" means two or more persons affiliated through common ownership or a contractual common undertaking involving the ...
• Texas Finance Code Section 31.304 - Other Disclosure Prohibited; Penalty
  (a) Confidential information that is provided to a financial institution, affiliate, or service provider of a financial institution, whether in the form of a report ...
• Texas Finance Code Section 31.305 - Civil Discovery
  Civil discovery of confidential information from a person subject to section 31.304 under subpoena or other legal process must comply with rules adopted under this ...
• Texas Finance Code Section 31.306 - Investigative Information
  Notwithstanding any other law, the banking commissioner may refuse to release information or records in the custody of the department if, in the opinion of ...
• Texas Finance Code Section 31.307 - Employment Information
  (a) A person may provide employment information concerning the known or suspected involvement of a present or former employee, officer, or director of a financial ...
• Texas Finance Code Section 31.308 - Shareholder Inspection Rights
  (a) Notwithstanding Article 2.44, Texas Business Corporation Act, a shareholder or participant of a state bank may not examine: (1) a report of examination or ...
• Texas Finance Code Section 32.001 - Organization And General Powers Of State Bank
  (a) One or more persons, a majority of whom are residents of this state, may organize a state bank as a banking association or a ...
• Texas Finance Code Section 32.002 - Articles Of Association Of State Bank
  (a) The articles of association of a state bank must be signed and acknowledged by each organizer and must contain: (1) the name of the ...
• Texas Finance Code Section 32.003 - Application For State Bank Charter; Standards For Approval
  (a) An application for a state bank charter must be made under oath and in the form required by the banking commissioner, who shall inquire ...
• Texas Finance Code Section 32.004 - Notice And Investigation Of Charter Application
  (a) The organizers shall solicit comments and protests by publishing notice of the application, its date of filing, and the identity of the organizers, in ...
• Texas Finance Code Section 32.005 - Protest; Hearing; Decision On Charter Application
  (a) Any person may file a protest of an application. (b) If a protest of the application is not filed before the 15th day after ...
• Texas Finance Code Section 32.006 - Issuance Of Certificate Of Authority
  A state bank may not engage in the business of banking until it receives a certificate of authority from the banking commissioner. The banking commissioner ...
• Texas Finance Code Section 32.007 - Deadline To Begin Business
  If the state bank does not open and engage in the business of banking within six months after the date of the granting of its ...
• Texas Finance Code Section 32.008 - Application Of General Corporate Law
  (a) The Texas Business Corporation Act and the Texas Miscellaneous Corporation Laws Act (Article 1302-1.01 et seq., Vernon's Texas Civil Statutes) apply to a banking ...
• Texas Finance Code Section 32.009 - Parity Between State And National Banks
  (a) Section 16(a), Article XVI, Texas Constitution, empowers the legislature to authorize the incorporation of state banks and provide for a system of state regulation ...
• Texas Finance Code Section 32.010 - Additional Powers
  (a) Notwithstanding another law, a Texas state bank may perform an act, own property, or offer a product or service that is at the time ...
• Texas Finance Code Section 32.011 - Financial Activities
  (a) The finance commission by rule may determine that an activity not otherwise approved or authorized for a state bank under this subtitle or other ...
• Texas Finance Code Section 32.101 - Amendment Or Restatement Of State Bank Articles Of Association
  (a) A state bank that has been granted a certificate of authority may amend or restate its articles of association for any lawful purpose, including ...
• Texas Finance Code Section 32.102 - Establishing Series Of Shares Or Participation Shares
  (a) If the articles of association expressly give the board of a state bank authority to establish shares or participation shares in series and determine ...
• Texas Finance Code Section 32.103 - Change In Outstanding Capital And Surplus
  (a) A state bank may not reduce or increase its outstanding capital and surplus through dividend, redemption, issuance of shares or participation shares, or otherwise, ...
• Texas Finance Code Section 32.104 - Capital Notes Or Debentures
  (a) With the prior written approval of the banking commissioner, a state bank may at any time, through action of its board and without requiring ...
• Texas Finance Code Section 32.201 - Conduct Of The Business Of Banking
  (a) A state bank may engage in the banking business at its home office, at an approved branch office location, and through electronic terminals. A ...
• Texas Finance Code Section 32.202 - Home Office
  (a) Each state bank must have and continuously maintain in this state a home office. The home office must be a location at which the ...
• Texas Finance Code Section 32.203 - Branch Offices
  (a) A state bank may establish and maintain a branch office at any location on prior written approval of the banking commissioner. If the banking ...
• Texas Finance Code Section 32.204 - Loan Production Offices
  (a) A state bank may establish one or more loan production offices for the purpose of soliciting loans or equivalent transactions, accepting loan applications, and ...
• Texas Finance Code Section 32.301 - Merger Authority
  (a) Two or more financial institutions, corporations, or other entities with the authority to participate in a merger, at least one of which is a ...
• Texas Finance Code Section 32.302 - Approval Of Banking Commissioner
  (a) If the merger is subject to the prior written approval of the banking commissioner, the original articles of merger and a number of copies ...
• Texas Finance Code Section 32.303 - Rights Of Dissenters From Merger
  A shareholder, participant, or participant-transferee may dissent from the merger to the extent, and by following the procedure provided, by the Texas Business Corporation Act ...
• Texas Finance Code Section 32.304 - Limitation On Control Of Deposits
  (a) A merger is not permitted under this subchapter if, on consummation of the transaction, the resulting state bank, including all insured depository institution affiliates ...
• Texas Finance Code Section 32.401 - Authority To Purchase Assets Of Another Financial Institution
  (a) A state bank with the prior written approval of the banking commissioner may purchase all or substantially all of the assets of another financial ...
• Texas Finance Code Section 32.402 - Authority To Act As Disbursing Agent
  (a) The purchasing bank may hold the purchase price and any additional money delivered to it by the selling institution in trust for, or as ...
• Texas Finance Code Section 32.403 - Liquidation Of Selling Institution
  If the selling financial institution is at any time after the sale of assets voluntarily or involuntarily closed for liquidation by a state or federal ...
• Texas Finance Code Section 32.404 - Payment To Depositors And Creditors
  The purchasing bank may pay a depositor or creditor of the selling institution the amount to be paid the person under the terms of the ...
• Texas Finance Code Section 32.405 - Sale Of Assets
  (a) The board of a state bank, with the prior written approval of the banking commissioner, may cause the bank to sell all or substantially ...
• Texas Finance Code Section 32.406 - Limitation On Control Of Deposits
  (a) A purchase of assets is not permitted under Section 32.401 if, on consummation of the transaction, the acquiring state bank, including all insured depository ...
• Texas Finance Code Section 32.501 - Merger Or Conversion Of State Bank Into Another Financial Institution
  (a) Subject to Subtitle G, a state bank may act as necessary under and to the extent permitted by the laws of the United States, ...
• Texas Finance Code Section 32.502 - Conversion Of Financial Institution Into State Bank
  (a) A financial institution, as that term is defined by Section 201.101, may apply to the banking commissioner for conversion into a state bank on ...
• Texas Finance Code Section 33.001 - Acquisition Of Control
  (a) Except as otherwise expressly permitted by this subtitle, without the prior written approval of the banking commissioner a person may not directly or indirectly ...
• Texas Finance Code Section 33.002 - Application Regarding Acquisition Of Control
  (a) The proposed transferee in an acquisition of control of a state bank or of a person that controls a state bank must file an ...
• Texas Finance Code Section 33.003 - Hearing And Decision On Acquisition Of Control
  (a) Not later than the 60th day after the date the notice is published, the banking commissioner shall approve the application or set the application ...
• Texas Finance Code Section 33.004 - Appeal From Adverse Decision
  (a) If a hearing has been held, the banking commissioner has entered an order denying the application, and the order has become final, the proposed ...
• Texas Finance Code Section 33.005 - Exemptions
  The following acquisitions are exempt from Section 33.001: (1) an acquisition of securities in connection with the exercise of a security interest or otherwise in ...
• Texas Finance Code Section 33.006 - Objection To Other Transfer
  This subchapter does not prevent the banking commissioner from investigating, commenting on, or seeking to enjoin or set aside a transfer of voting securities that ...
• Texas Finance Code Section 33.007 - Civil Enforcement; Criminal Penalty
  (a) If the banking commissioner believes that a person has violated or is about to violate this subchapter or a rule of the finance commission ...
• Texas Finance Code Section 33.101 - Voting Securities Held By Bank
  (a) Voting securities of a state bank held by the bank in a fiduciary capacity under a will or trust, whether registered in the bank's ...
• Texas Finance Code Section 33.102 - Bylaws
  Except as provided by Section 33.207, each state bank shall adopt bylaws and may amend its bylaws for the purposes and according to the procedures ...
• Texas Finance Code Section 33.103 - Board Of Directors, Managers, Or Managing Participants
  (a) The board of a state bank must consist of not fewer than five but not more than 25 directors, managers, or managing participants, a ...
• Texas Finance Code Section 33.104 - Advisory Director Or Advisory Manager
  An advisory director or advisory manager is not considered a director or manager if the advisory director or advisory manager: (1) is not elected by ...
• Texas Finance Code Section 33.105 - Required Monthly Board Meeting
  (a) The board of a state bank shall hold at least one regular meeting each month. At each regular meeting the board shall review and ...
• Texas Finance Code Section 33.106 - Officers
  The board shall annually appoint the officers of the bank, who serve at the will of the board. The bank must have a principal executive ...
• Texas Finance Code Section 33.107 - Limitation On Action Of Officer Or Employee In Relation To Asset Or Liability
  Unless expressly authorized by a resolution of the board recorded in its minutes, an officer or employee may not create or dispose of a bank ...
• Texas Finance Code Section 33.108 - Criminal Offenses
  (a) An officer, director, manager, managing participant, employee, shareholder, or participant of a state bank commits an offense if the person knowingly: (1) conceals information ...
• Texas Finance Code Section 33.109 - Transactions With Management And Affiliates
  (a) Without the prior approval of a disinterested majority of the board recorded in the minutes or, if a disinterested majority cannot be obtained, the ...
• Texas Finance Code Section 33.201 - Liability Of Participants And Managers
  (a) Except as provided by Subsection (b), a participant, participant-transferee, or manager of a limited banking association is not liable for a debt, obligation, or ...
• Texas Finance Code Section 33.202 - Filing Of Notice Of Copy Of Participation Agreement
  (a) A limited banking association shall file with the banking commissioner a copy of any participation agreement by which a participant of the limited banking ...
• Texas Finance Code Section 33.203 - Contracting For Debt Or Obligation
  Except as provided by the articles of association of the limited banking association, a debt, liability, or other obligation may be contracted for or incurred ...
• Texas Finance Code Section 33.204 - Management Of Limited Banking Association
  (a) Management of a limited banking association is vested in the participants in proportion to each participant's contribution to capital, as adjusted periodically to properly ...
• Texas Finance Code Section 33.205 - Withdrawal Or Reduction Of Participant's Contribution To Capital
  (a) Except as otherwise provided by this chapter, a participant may not receive from a limited banking association any part of the participant's contribution to ...
• Texas Finance Code Section 33.206 - Interest In Limited Banking Association; Transferability Of Interest
  (a) The interest of a participant or participant-transferee in a limited banking association is the personal property of the participant or the participant-transferee and may ...
• Texas Finance Code Section 33.207 - Bylaws Of Limited Banking Association
  A limited banking association in which management is retained by the participants is not required to adopt bylaws if provisions required by law to be ...
• Texas Finance Code Section 33.208 - Dissolution
  (a) A limited banking association organized under this chapter is dissolved on: (1) the expiration of the period fixed for the duration of the limited ...
• Texas Finance Code Section 33.209 - Allocation Of Profits And Losses
  The profits and losses of a limited banking association may be allocated among the participants and among classes of participants as provided by the participation ...
• Texas Finance Code Section 33.210 - Distributions
  Subject to Section 32.103, distributions of cash or other assets of a limited banking association may be made to the participants as provided by the ...
• Texas Finance Code Section 33.211 - Application Of Other Provisions To Limited Banking Associations
  For purposes of the provisions of this subtitle other than this subchapter, as the context requires: (1) a manager is considered to be a director ...
• Texas Finance Code Section 34.001 - Definition
  In this subchapter, "bank facility" means real property, including an improvement, that a state bank owns or leases, to the extent the lease or the ...
• Texas Finance Code Section 34.002 - Investment In Bank Facilities
  (a) Without the prior written approval of the banking commissioner, a state bank may not directly or indirectly invest an amount in excess of its ...
• Texas Finance Code Section 34.003 - Other Real Property
  (a) A state bank may not acquire real property except: (1) as permitted by this subtitle or rules adopted under this subtitle; (2) with the ...
• Texas Finance Code Section 34.101 - Securities
  (a) A state bank may purchase and sell securities without recourse solely on the order and for the account of a customer. (b) Except as ...
• Texas Finance Code Section 34.102 - Transaction In Bank Shares Or Participation Shares
  (a) A state bank may not acquire a lien by pledge or otherwise on its own shares or participation shares, or otherwise purchase or acquire ...
• Texas Finance Code Section 34.103 - Bank Subsidiaries
  (a) Subject to this section and except as otherwise provided by this subtitle or rules adopted under this subtitle, a state bank may conduct any ...
• Texas Finance Code Section 34.104 - Mutual Funds
  (a) A state bank may invest for its own account in equity securities of an investment company registered under the Investment Company Act of 1940 ...
• Texas Finance Code Section 34.105 - Other Direct Equity Investments
  (a) A state bank may purchase for its own account equity securities of any class issued by: (1) a bank service corporation, except that the ...
• Texas Finance Code Section 34.106 - Investments For Public Welfare
  (a) A state bank may make investments of a predominantly civic, community, or public nature, including investments providing housing, services, or jobs or promoting the ...
• Texas Finance Code Section 34.107 - Engaging In Commerce Prohibited
  (a) A state bank may not buy, sell, or otherwise deal in goods in trade or commerce or own or operate a business not part ...
• Texas Finance Code Section 34.201 - Lending Limits
  (a) Without the prior written approval of the banking commissioner, the total loans and extensions of credit by a state bank to a person outstanding ...
• Texas Finance Code Section 34.202 - Violation Of Lending Limit
  (a) An officer, director, manager, managing participant, or employee of a state bank who approves or participates in the approval of a loan with actual ...
• Texas Finance Code Section 34.203 - Loan Expenses And Fees
  (a) A bank may require a borrower to pay all reasonable expenses and fees incurred in connection with the making, closing, disbursing, extending, readjusting, or ...
• Texas Finance Code Section 34.204 - Lease Financing Transaction
  (a) Subject to rules adopted under this subtitle, a state bank may, directly or indirectly through an operating subsidiary, provide the equivalent of a financing ...
• Texas Finance Code Section 34.301 - Nature Of Deposit Contract
  (a) A deposit contract between a bank and an account holder is considered a contract in writing for all purposes and may be evidenced by ...
• Texas Finance Code Section 34.302 - Amendment Of Deposit Contract
  (a) A bank and its account holder may amend the deposit contract by agreement or as permitted by Subsection (b) or other law. (b) A ...
• Texas Finance Code Section 34.303 - Fees; Disclosures
  (a) Except as otherwise provided by law, a bank may charge an account holder a fee, service charge, or penalty relating to service or activity ...
• Texas Finance Code Section 34.304 - Securing Deposits
  (a) A state bank may not create a lien on its assets or secure the repayment of a deposit except as authorized or required by ...
• Texas Finance Code Section 34.305 - Deposit Account Of Minor
  (a) Except as otherwise provided by this section, a bank lawfully doing business in this state may enter into a deposit account with a minor ...
• Texas Finance Code Section 34.306 - Trust Account With Limited Documentation
  (a) Subject to Chapter XI, Probate Code, a bank may accept and administer a deposit account: (1) that is opened with the bank by one ...
• Texas Finance Code Section 34.307 - Right Of Set-Off
  (a) Except as otherwise provided by the Truth in Lending Act (15 U.S.C. Section 1601 et seq.) or other federal law, a bank has a ...
• Texas Finance Code Section 35.001 - Determination Letter
  (a) If the banking commissioner determines from examination or other credible evidence that a state bank is in a condition that may warrant the issuance ...
• Texas Finance Code Section 35.002 - Cease And Desist Order
  (a) The banking commissioner has grounds to issue a cease and desist order to an officer, employee, director, manager, or managing participant of a state ...
• Texas Finance Code Section 35.003 - Removal Or Prohibition Order
  (a) The banking commissioner has grounds to remove a present or former officer, director, manager, managing participant, or employee of a state bank from office ...
• Texas Finance Code Section 35.004 - Hearing On Proposed Order
  (a) A requested hearing on a proposed order shall be held not later than the 30th day after the date the first request for a ...
• Texas Finance Code Section 35.005 - Emergency Order
  (a) If the banking commissioner believes that immediate action is necessary to prevent immediate and irreparable harm to the bank and its depositors, creditors, and ...
• Texas Finance Code Section 35.006 - Copy Of Letter Or Order In Bank Records
  A copy of a determination letter, proposed order, emergency order, or final order issued by the banking commissioner under this subchapter shall be immediately brought ...
• Texas Finance Code Section 35.007 - Effect Of Final Removal Or Prohibition Order
  (a) Except as otherwise provided by law, without the prior written approval of the banking commissioner, a person subject to a final and enforceable removal ...
• Texas Finance Code Section 35.008 - Limitation On Action
  The banking commissioner may not initiate an enforcement action under this subchapter later than the fifth anniversary of the date the banking commissioner discovered or ...
• Texas Finance Code Section 35.009 - Enforcement Of Final Order
  (a) If the banking commissioner reasonably believes that a bank or person has violated a final and enforceable cease and desist, removal, or prohibition order ...
• Texas Finance Code Section 35.010 - Administrative Penalty
  (a) The banking commissioner may initiate a proceeding for an administrative penalty against a bank by serving on the bank notice of the time and ...
• Texas Finance Code Section 35.011 - Payment Or Appeal Of Administrative Penalty
  (a) When a penalty order under Section 35.010 becomes final, the bank shall pay the penalty or appeal by filing a petition for judicial review. ...
• Texas Finance Code Section 35.012 - Confidentiality Of Records
  A copy of a notice, correspondence, transcript, pleading, or other document in the records of the department relating to an order issued under this subchapter ...
• Texas Finance Code Section 35.013 - Collection Of Fees
  The department may sue to enforce the collection of a fee owed to the department under a law administered by the department. In the suit ...
• Texas Finance Code Section 35.101 - Order Of Supervision
  (a) The banking commissioner by order may appoint a supervisor over a state bank if the banking commissioner determines from examination or other credible evidence ...
• Texas Finance Code Section 35.102 - Order Of Conservatorship
  (a) The banking commissioner by order may appoint a conservator for a state bank if the banking commissioner determines from examination or other credible evidence ...
• Texas Finance Code Section 35.103 - Notice And Hearing
  (a) An order issued under Section 35.101 or 35.102 must contain or be accompanied by a notice that, at the request of the bank, a ...
• Texas Finance Code Section 35.104 - Post-Hearing Order
  (a) If after the hearing the banking commissioner finds that the bank has been rehabilitated, that its hazardous condition has been remedied, that irreparable harm ...
• Texas Finance Code Section 35.105 - Confidentiality Of Records
  An order issued under this subchapter and a copy of a notice, correspondence, transcript, pleading, or other document in the records of the department relating ...
• Texas Finance Code Section 35.106 - Authority Of Supervisor
  During a period of supervision, a bank, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or restricted by ...
• Texas Finance Code Section 35.107 - Authority Of Conservator
  (a) A conservator appointed under this subchapter shall immediately take charge of the bank and all of its property, books, records, and affairs on behalf ...
• Texas Finance Code Section 35.108 - Qualifications Of Appointee
  The banking commissioner may appoint as a supervisor or conservator any person who in the judgment of the banking commissioner is qualified to serve. The ...
• Texas Finance Code Section 35.109 - Expenses
  (a) The banking commissioner shall determine and approve the reasonable expenses attributable to the service of a supervisor or conservator, including costs incurred by the ...
• Texas Finance Code Section 35.110 - Review Of Supervisor Or Conservator Decision
  (a) Notwithstanding Section 35.107(b), a majority of the bank's board, acting directly or through counsel who affirmatively represents that the requisite majority has been obtained, ...
• Texas Finance Code Section 35.111 - Venue
  (a) A suit filed against a bank while the bank is under conservatorship, or against a person in connection with an action taken or decision ...
• Texas Finance Code Section 35.112 - Duration
  A supervisor or conservator serves for the period necessary to accomplish the purposes of the supervision or conservatorship as intended by this subchapter. A rehabilitated ...
• Texas Finance Code Section 35.113 - Administrative Election Of Remedies
  The banking commissioner may take any action authorized by Chapter 36 regardless of the existence of supervision or conservatorship. A period of supervision or conservatorship ...
• Texas Finance Code Section 35.114 - Release Before Hearing
  This subchapter does not prevent release of the bank from supervision or conservatorship before a hearing if the banking commissioner is satisfied that requirements for ...
• Texas Finance Code Section 35.201 - Inapplicability
  This subchapter does not apply to a financial institution, as that term is defined by Section 201.101, that lawfully maintains its main office or a ...
• Texas Finance Code Section 35.202 - Investigation Of Unauthorized Activity
  (a) If the banking commissioner has reason to believe that a person has engaged, is engaging, or is likely to engage in an unauthorized activity, ...
• Texas Finance Code Section 35.203 - Subpoena Authority
  (a) This section applies only to an investigation of an unauthorized activity as provided by Section 35.202 and does not affect the conduct of a ...
• Texas Finance Code Section 35.204 - Enforcement Of Subpoena
  (a) If necessary, the banking commissioner may apply to a district court of Travis County or of the county in which the subpoena was served ...
• Texas Finance Code Section 35.205 - Confidentiality Of Subpoenaed Records
  (a) A book, account, record, paper, correspondence, or other document subpoenaed and produced under Section 35.203 that is otherwise made privileged or confidential by law ...
• Texas Finance Code Section 35.206 - Evidence
  (a) On certification by the banking commissioner, a book, record, paper, or document produced or testimony taken as provided by Section 35.204 and held by ...
• Texas Finance Code Section 35.207 - Cease And Desist Order
  (a) The banking commissioner may serve a proposed cease and desist order on a person that the banking commissioner believes is engaging or is likely ...
• Texas Finance Code Section 35.208 - Emergency Cease And Desist Order
  (a) The banking commissioner may issue an emergency cease and desist order to a person whom the banking commissioner reasonably believes is engaging in a ...
• Texas Finance Code Section 35.209 - Judicial Review Of Cease And Desist Order
  (a) A person affected by a cease and desist order issued, affirmed, or modified after a hearing may file a petition for judicial review. (b) ...
• Texas Finance Code Section 35.210 - Violation Of Final Cease And Desist Order
  (a) If the banking commissioner reasonably believes that a person has violated a final and enforceable cease and desist order, the banking commissioner may: (1) ...
• Texas Finance Code Section 35.211 - Administrative Penalty
  (a) The banking commissioner may initiate an action for an administrative penalty against a person for violation of a cease and desist order by serving ...
• Texas Finance Code Section 35.212 - Payment And Appeal Of Administrative Penalty
  (a) When an administrative penalty order under Section 35.211 becomes final, a person affected by the order, within the time permitted by law for appeal, ...
• Texas Finance Code Section 35.213 - Judicial Review Of Administrative Penalty
  (a) If on judicial review the court sustains the penalty order, the court shall order the person to pay the full amount of the penalty ...
• Texas Finance Code Section 36.001 - Definition
  In this chapter, "administrative expense" means: (1) an expense designated as an administrative expense by Subchapter C or D; (2) court costs and expenses of ...
• Texas Finance Code Section 36.002 - Remedies Exclusive
  (a) Unless the banking commissioner so requests, a court may not: (1) order the closing or suspension of operation of a state bank; or (2) ...
• Texas Finance Code Section 36.003 - Federal Deposit Insurance Corporation As Liquidator
  (a) The banking commissioner without court action may tender a state bank that has been closed for liquidation to the Federal Deposit Insurance Corporation or ...
• Texas Finance Code Section 36.004 - Appointment Of Independent Receiver
  (a) On request of the banking commissioner, the court in which a liquidation proceeding is pending may: (1) appoint an independent receiver; and (2) require ...
• Texas Finance Code Section 36.005 - Succession Of Trust Powers
  (a) If a state bank in the process of voluntary or involuntary dissolution and liquidation is acting as trustee, guardian, executor, administrator, or escrow agent, ...
• Texas Finance Code Section 36.101 - Initiating Voluntary Dissolution
  (a) A state bank may initiate voluntary dissolution and surrender its charter as provided by this subchapter: (1) with the approval of the banking commissioner; ...
• Texas Finance Code Section 36.102 - Filing Resolutions With Banking Commissioner
  After resolutions to dissolve and liquidate a state bank have been adopted by the bank's board and shareholders or participants, a majority of the directors, ...
• Texas Finance Code Section 36.103 - Banking Commissioner Investigation And Consent
  The banking commissioner shall review the documentation submitted under Section 36.102 and conduct any necessary investigation or examination. If the proceedings appear to have been ...
• Texas Finance Code Section 36.104 - Notice Of Pending Dissolution
  (a) A state bank initiating voluntary dissolution shall publish notice of its pending dissolution in a newspaper of general circulation in each community where its ...
• Texas Finance Code Section 36.105 - Safe Deposits And Other Bailments
  (a) A contract between the bank and a person for bailment, of deposit for hire, or for lease of a safe, vault, or box ceases ...
• Texas Finance Code Section 36.106 - Offices To Remain Open
  Unless the banking commissioner directs or consents otherwise, the home office and all branch offices of a state bank initiating voluntary dissolution shall remain open ...
• Texas Finance Code Section 36.107 - Fiduciary Activities
  (a) As soon after publication of the notice of dissolution as is practicable, the bank shall: (1) terminate all fiduciary positions it holds; (2) surrender ...
• Texas Finance Code Section 36.108 - Final Liquidation
  (a) After the bank has taken all of the actions specified by Sections 36.102, 36.105, and 36.107, paid all its debts and obligations, and transferred ...
• Texas Finance Code Section 36.109 - Application Of Law To Bank In Dissolution
  A state bank in the process of voluntary dissolution and liquidation remains subject to this subtitle and Chapters 11 and 12, including provisions for examination ...
• Texas Finance Code Section 36.110 - Authorization Of Deviation From Procedures
  The banking commissioner may authorize a deviation from the procedures for voluntary dissolution in this subchapter if the banking commissioner determines that the interests of ...
• Texas Finance Code Section 36.111 - Closure By Banking Commissioner For Involuntary Dissolution And Liquidation
  The banking commissioner may close a state bank for involuntary dissolution and liquidation under this chapter if the banking commissioner determines that: (1) the voluntary ...
• Texas Finance Code Section 36.112 - Application For New Charter
  After a state bank's charter has been voluntarily surrendered and canceled, the bank may not resume business or reopen except on application for and approval ...
• Texas Finance Code Section 36.201 - Action To Close State Bank
  (a) The banking commissioner may close and liquidate a state bank on finding that: (1) the interests of the bank's depositors and creditors are jeopardized ...
• Texas Finance Code Section 36.202 - Notice And Effect Of Closure; Appointment Of Receiver
  (a) After closing a state bank under Section 36.201, the banking commissioner shall place a sign at its main entrance stating that the bank has ...
• Texas Finance Code Section 36.203 - Nature And Duration Of Receivership
  (a) The court may not require a bond from the banking commissioner as receiver. (b) A reference in this chapter to the receiver is a ...
• Texas Finance Code Section 36.204 - Contest Of Liquidation
  (a) A state bank, acting through a majority of its directors, managers, or managing participants, may intervene in an action filed by the banking commissioner ...
• Texas Finance Code Section 36.205 - Notice Of Bank Closing
  (a) As soon as reasonably practicable after initiation of the receivership proceeding, the receiver shall publish notice in a newspaper of general circulation in each ...
• Texas Finance Code Section 36.206 - Inventory
  As soon as reasonably practicable given the state of bank records and the adequacy of staffing, the receiver shall prepare a comprehensive inventory of the ...
• Texas Finance Code Section 36.207 - Receiver's Title And Priority
  (a) The receiver has the title to all the bank's property, contracts, and rights of action, wherever located, beginning on the date the bank is ...
• Texas Finance Code Section 36.208 - Rights Fixed
  The rights and liabilities of the bank in liquidation and of a depositor, creditor, officer, director, manager, managing participant, employee, shareholder, participant, participant-transferee, agent, or ...
• Texas Finance Code Section 36.209 - Depositories
  (a) The receiver may deposit money collected on behalf of the bank estate in: (1) the Texas Treasury Safekeeping Trust Company in accordance with procedures ...
• Texas Finance Code Section 36.210 - Pending Lawsuit
  (a) A judgment or order of a court of this state or of another jurisdiction in an action pending by or against the bank, rendered ...
• Texas Finance Code Section 36.211 - New Lawsuit
  (a) Except as otherwise provided by this section, the court in which the receivership proceeding is pending under this subchapter has exclusive jurisdiction to hear ...
• Texas Finance Code Section 36.212 - Requiring Record Or Other Property In Possession Of Other Person
  (a) Each bank affiliate, officer, director, manager, managing participant, shareholder, participant, participant-transferee, trustee, agent, servant, employee, attorney, attorney-in-fact, or correspondent shall immediately deliver to the ...
• Texas Finance Code Section 36.213 - Injunction In Aid Of Liquidation
  (a) On application by the receiver, the court with or without notice may issue an injunction: (1) restraining a bank officer, director, manager, managing participant, ...
• Texas Finance Code Section 36.214 - Subpoena
  (a) The receiver may request the court ex parte to issue a subpoena to compel the attendance and testimony of a witness before the receiver ...
• Texas Finance Code Section 36.215 - Executory Contract; Oral Agreement
  (a) Not later than six months after the date the receivership proceeding begins, the receiver may terminate any executory contract to which the bank is ...
• Texas Finance Code Section 36.216 - Preferences
  (a) A transfer of or lien on the property or assets of a state bank is voidable by the receiver if the transfer or lien: ...
• Texas Finance Code Section 36.217 - Employees Of Receiver
  The receiver may employ agents, legal counsel, accountants, appraisers, consultants, and other personnel the receiver considers necessary to assist in the performance of the receiver's ...
• Texas Finance Code Section 36.218 - Disposal Of Property; Settling Of Claim
  (a) In liquidating a bank, the receiver on order of the court entered with or without hearing may: (1) sell all or part of the ...
• Texas Finance Code Section 36.219 - Court Order; Notice And Hearing
  If the court requires notice and hearing before entering an order, the court shall set the time and place of the hearing and prescribe whether ...
• Texas Finance Code Section 36.220 - Receiver's Report; Expenses
  (a) The receiver shall file with the court: (1) a quarterly report showing the operation, receipts, expenditures, and general condition of the bank in liquidation; ...
• Texas Finance Code Section 36.221 - Court-Ordered Audit
  The court may order an audit of the books and records of the receiver that relate to the receivership. A report of an audit ordered ...
• Texas Finance Code Section 36.222 - Safe Deposits And Other Bailments
  (a) A contract between the bank and another person for bailment, of deposit for hire, or for lease of a safe, vault, or box ceases ...
• Texas Finance Code Section 36.223 - Fiduciary Activities
  (a) As soon after beginning the receivership proceeding as is practicable, the receiver shall: (1) terminate all fiduciary positions the bank holds; (2) surrender all ...
• Texas Finance Code Section 36.224 - Disposition And Maintenance Of Records
  (a) On approval by the court, the receiver may dispose of records of the bank in liquidation that are obsolete and unnecessary to the continued ...
• Texas Finance Code Section 36.225 - Records Admitted
  (a) A record of a bank in liquidation obtained by the receiver and held in the course of the receivership proceeding or a certified copy ...
• Texas Finance Code Section 36.226 - Resumption Of Business
  (a) A state bank closed under Section 36.201 may not be reopened without the approval of the banking commissioner unless a contest of liquidation under ...
• Texas Finance Code Section 36.227 - Assets Discovered After Close Of Receivership
  (a) The banking commissioner shall report to the court discovery of an asset having value that: (1) the banking commissioner discovers after the receivership was ...
• Texas Finance Code Section 36.301 - Filing Claim
  (a) This section applies only to a claim by a person, other than a shareholder, participant, or participant-transferee acting in that capacity, who has a ...
• Texas Finance Code Section 36.302 - Proof Of Claim
  (a) A proof of claim must be in writing, be signed by the claimant, and include: (1) a statement of the claim; (2) a description ...
• Texas Finance Code Section 36.303 - Judgment As Proof Of Claim
  (a) A judgment entered against a state bank in liquidation before the date the bank was closed for liquidation may not be given higher priority ...
• Texas Finance Code Section 36.304 - Secured Claim
  (a) The owner of a secured claim against a bank in liquidation may: (1) surrender the security and file a claim as a general creditor; ...
• Texas Finance Code Section 36.305 - Unliquidated Or Undetermined Claim
  (a) A claim based on an unliquidated or undetermined demand shall be filed within the period provided by Subchapter C for the filing of a ...
• Texas Finance Code Section 36.306 - Set-Off
  (a) Mutual credits and mutual debts shall be set off and only the balance allowed or paid, except that a set-off may not be allowed ...
• Texas Finance Code Section 36.307 - Action On Claim
  (a) Not later than six months after the last day permitted for the filing of claims or a later date allowed by the court, the ...
• Texas Finance Code Section 36.308 - Objection To Approved Claim
  The receiver with court approval shall set a date for objection to an approved claim. On or before that date a depositor, creditor, other claimant, ...
• Texas Finance Code Section 36.309 - Appeal Of Rejected Claim
  (a) The receiver's rejection of a claim may be appealed in the court in which the receivership proceeding is pending. The appeal must be brought ...
• Texas Finance Code Section 36.310 - Payment Of Claim
  (a) Except as expressly provided otherwise by this subchapter or Subchapter C, without the approval of the court the receiver may not make a payment ...
• Texas Finance Code Section 36.311 - Priority Of Claims Against Insured Bank
  The distribution of assets from the estate of a bank the deposits of which are insured by the Federal Deposit Insurance Corporation or its successor ...
• Texas Finance Code Section 36.312 - Priority Of Claims Against Uninsured Bank
  (a) The priority of distribution of assets from the estate of a bank the deposits of which are not insured by the Federal Deposit Insurance ...
• Texas Finance Code Section 36.313 - Excess Assets
  (a) If bank assets remain after the receiver has provided for unclaimed distributions and all of the liabilities of the bank in liquidation, the receiver ...
• Texas Finance Code Section 36.314 - Unclaimed Property
  After completion of the liquidation, any unclaimed property remaining in the hands of the receiver shall be tendered to the comptroller as provided by Chapter ...
• Texas Finance Code Section 37.001 - Definition
  In this chapter, "emergency" means a condition or occurrence that may interfere physically with the conduct of normal business at the offices of a bank ...
• Texas Finance Code Section 37.002 - Emergency Closing Of Office Or Operation By Bank
  (a) If the officers of a bank located in this state determine that an emergency that affects or may affect the bank's offices or a ...
• Texas Finance Code Section 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 ...
• Texas Finance Code Section 37.004 - Effect Of Closing
  (a) A day on which a bank or one or more of its operations is closed during its normal banking hours as provided by this ...
• Texas Finance Code Section 37.005 - Limitations On Withdrawals From State Bank
  (a) At the request of a state bank that is experiencing or threatened with unusual and excessive withdrawals because of financial conditions, panic, or crisis, ...
• Texas Finance Code Section 37.006 - Financial Moratorium
  (a) The banking commissioner, with the approval of a majority of the finance commission and the governor, may proclaim a financial moratorium for, and invoke ...
• Texas Finance Code Section 59.001 - Definitions
  In this subchapter: (1) "Civil action" means a civil proceeding pending in a tribunal. The term does not include an examination or enforcement proceeding initiated ...
• Texas Finance Code Section 59.002 - Slander Or Libel Of Bank
  (a) A person commits an offense if the person: (1) knowingly makes, circulates, or transmits to another person an untrue statement that is derogatory to ...
• Texas Finance Code Section 59.003 - Authority Of Notary Public
  A notary public is not disqualified from taking an acknowledgment or proof of a written instrument as provided by Section 406.016, Government Code, solely because ...
• Texas Finance Code Section 59.004 - Succession Of Trust Powers
  (a) If, at the time of a merger, reorganization, conversion, sale of substantially all of its assets under Chapter 32 or other applicable law, or ...
• Texas Finance Code Section 59.005 - Agency Activities
  (a) A financial institution may receive deposits, renew time deposits, close loans, service loans, receive payments on loans and other obligations, and perform other services ...
• Texas Finance Code Section 59.006 - Discovery Of Customer Records
  (a) This section provides the exclusive method for compelled discovery of a record of a financial institution relating to one or more customers but does ...
• Texas Finance Code Section 59.007 - Attachment, Injunction, Execution, Or Garnishment
  (a) An attachment, injunction, execution, or writ of garnishment may not be issued against or served on a financial institution that has its principal office ...
• Texas Finance Code Section 59.008 - Claims Against Customers Of Financial Institutions
  (a) A claim against a customer of a financial institution shall be delivered or served as otherwise required or permitted by law at the address ...
• Texas Finance Code Section 59.009 - Compliance Review Committee
  (a) A financial institution or an affiliate of a financial institution, including its holding company, may establish a compliance review committee to test, review, or ...
• Texas Finance Code Section 59.010 - Confidentiality Of Administrative Subpoena
  (a) Except to the extent disclosure is necessary to locate and produce responsive records, an administrative subpoena that meets the requirements of Subsection (b) and ...
• Texas Finance Code Section 59.011 - Lender Liability For Construction
  (a) For purposes of Chapter 27, Property Code, and Title 16, Property Code, a federally insured financial institution regulated under this code is not a ...
• Texas Finance Code Section 59.101 - Definition
  In this subchapter, "safe deposit company" means a person who maintains and rents safe deposit boxes. Acts 1997, 75th Leg., ch. 1008, § 1, eff. ...
• Texas Finance Code Section 59.102 - Authority To Act As Safe Deposit Company
  Any person may be a safe deposit company. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 59.103 - Relationship Of Safe Deposit Company And Renter
  In a safe deposit transaction the relationship of the safe deposit company and the renter is that of lessor and lessee and landlord and tenant, ...
• Texas Finance Code Section 59.104 - Delivery Of Notice
  A notice required by this subchapter to be given to a lessee of a safe deposit box must be in writing and personally delivered or ...
• Texas Finance Code Section 59.105 - Effect Of Subchapter On Other Law
  This subchapter does not affect Sections 36B-36F, Texas Probate Code, or another statute of this state governing safe deposit boxes. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 59.106 - Access By More Than One Person
  (a) If a safe deposit box is leased in the name of two or more persons jointly or if a person other than the lessee ...
• Texas Finance Code Section 59.107 - Nonemergency Opening And Relocation
  (a) A safe deposit company may not relocate a safe deposit box rented for a term of at least six months if the box rental ...
• Texas Finance Code Section 59.108 - Emergency Opening And Relocation
  (a) A safe deposit company may relocate a safe deposit box or open the box to relocate its contents to another box or location without ...
• Texas Finance Code Section 59.109 - Delinquent Rental; Lien; Sale Of Contents
  (a) If the rental for a safe deposit box is delinquent for at least six months, the safe deposit company may send notice to each ...
• Texas Finance Code Section 59.110 - Routing Number On Key
  (a) A depository institution that rents or permits access to a safe deposit box shall imprint the depository institution's routing number on each key to ...
• Texas Finance Code Section 59.201 - Electronic Terminals Authorized; Sharing Of Electronic Terminal
  (a) A person may install, maintain, and operate one or more electronic terminals at any location for the convenience of customers of financial institutions. (b) ...
• Texas Finance Code Section 59.202 - User Fee For Shared Electronic Terminal
  (a) The owner of an electronic terminal that is located in this state and that is connected to a shared network may impose a fee ...
• Texas Finance Code Section 59.301 - Definitions
  In this subchapter: (1) "Access area" means a paved walkway or sidewalk that is within 50 feet of an unmanned teller machine. The term does ...
• Texas Finance Code Section 59.302 - Exception For Certain Unmanned Teller Machines
  This subchapter does not apply to an unmanned teller machine: (1) by which: (A) a customer of a financial institution can authorize and effect the ...
• Texas Finance Code Section 59.303 - Applicability To Certain Persons Who Are Not Owners Or Operators
  (a) A person is not an owner or operator solely because the person's primary function is to provide for the exchange, transfer, or dissemination of ...
• Texas Finance Code Section 59.304 - Construction Of Subchapter
  (a) This subchapter does not require the relocation or modification of an unmanned teller machine on the occurrence of a particular event or circumstance. (b) ...
• Texas Finance Code Section 59.305 - Lighting Required
  During the period beginning 30 minutes after sunset and ending 30 minutes before sunrise, lighting shall be provided for: (1) an unmanned teller machine; (2) ...
• Texas Finance Code Section 59.306 - Persons Required To Provide Lighting
  (a) Except as provided by Subsection (b), the owner or operator shall provide the lighting required by this subchapter. (b) A person who leases the ...
• Texas Finance Code Section 59.307 - Standards For Lighting
  The lighting must be at least: (1) 10 candlefoot power at the face of the unmanned teller machine and extending in an unobstructed direction outward ...
• Texas Finance Code Section 59.308 - Safety Evaluation
  (a) An owner or operator shall in good faith evaluate the safety of each unmanned teller machine that the person owns or operates. (b) In ...
• Texas Finance Code Section 59.309 - Notice Of Safety Precautions
  (a) An issuer of an access device shall give the customer a notice of basic safety precautions that the customer should follow while using an ...
• Texas Finance Code Section 59.310 - Enforcement And Rules
  (a) The finance commission and the Credit Union Commission shall enforce this subchapter and adopt rules to implement this subchapter. (b) The rules must establish ...
• Texas Finance Code Section 61.001 - Short Title
  This subtitle may be cited as the Texas Savings and Loan Act. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 61.002 - Definitions
  In this subtitle: (1) "Association" means a savings and loan association subject to this subtitle. (2) "Board" means the board of directors of an association. ...
• Texas Finance Code Section 61.003 - Control; Subsidiary
  (a) For the purposes of this subtitle, a person controls an association if the person has the power to direct or cause the direction of ...
• Texas Finance Code Section 61.004 - Notice Of Hearing; Right To Respond
  (a) Notice of a hearing under this subtitle shall be given to each association and federal association in the county in which the subject matter ...
• Texas Finance Code Section 61.005 - Record Of Proceeding
  On written request by an interested party, the commissioner shall keep a formal record of the proceedings of a hearing under this subtitle. Acts 1997, ...
• Texas Finance Code Section 61.006 - Decision Or Order
  (a) A decision or order adverse to a party who has appeared and participated in a hearing must be in writing and include separately stated ...
• Texas Finance Code Section 61.007 - Fees
  The finance commission by rule shall: (1) set the amount of fees the commissioner charges for: (A) supervision and examination of associations; (B) filing an ...
• Texas Finance Code Section 62.001 - Application To Incorporate
  (a) Five or more residents of this state may apply to incorporate an association by submitting to the commissioner an application and the filing fee. ...
• Texas Finance Code Section 62.002 - Additional Incorporation Requirements For Capital Stock Association
  (a) A capital stock association's articles of incorporation must include a statement of: (1) the aggregate number of shares of common stock that the association ...
• Texas Finance Code Section 62.003 - Additional Incorporation Requirements For Mutual Association
  (a) A mutual association's articles of incorporation must include a statement of the amount of savings liability of the association and the amount of the ...
• Texas Finance Code Section 62.004 - Approval Of Managing Officer
  (a) An association may not begin business before: (1) it presents to the commissioner the name and qualifications of its managing officer; and (2) the ...
• Texas Finance Code Section 62.005 - Corporate Name
  (a) The name of an association must include the words "Savings Association," "Savings Institution," "Savings and Loan Association," or "Savings and Loan Institution," preceded by ...
• Texas Finance Code Section 62.006 - Hearing On Application To Incorporate
  (a) On the filing of a complete application to incorporate, the commissioner shall: (1) issue public notice of the application; and (2) give any interested ...
• Texas Finance Code Section 62.007 - Decision On Application To Incorporate; Issuance Of Certificate Of Incorporation
  (a) The commissioner may approve an application to incorporate only if the commissioner finds that: (1) the prerequisites to incorporation required by this chapter are ...
• Texas Finance Code Section 62.008 - Preference For Local Control
  If an application to incorporate a new association that proposes to locate an office in a community is before the commissioner at the same time ...
• Texas Finance Code Section 62.009 - Deadline For Commencing Business
  (a) An association shall begin business not later than the first anniversary of the date the commissioner approves the association's application. (b) On the request ...
• Texas Finance Code Section 62.010 - Amendment Of Articles Of Incorporation Or Bylaws
  (a) An association may amend its articles of incorporation or bylaws by a resolution adopted by a majority vote of those entitled to vote attending ...
• Texas Finance Code Section 62.011 - Change Of Office Or Name
  (a) Only with the prior approval of the commissioner may an association: (1) establish an office other than the principal office stated in the association's ...
• Texas Finance Code Section 62.051 - Purpose Of Incorporation
  A person may apply to incorporate an association for the purpose of: (1) purchasing the assets, assuming the liabilities, excluding liability to stockholders, and continuing ...
• Texas Finance Code Section 62.052 - Incorporation Requirements
  (a) An application to incorporate an association under this subchapter must be submitted to the commissioner. (b) The application must include information required by rule ...
• Texas Finance Code Section 62.053 - Decision On Application; Issuance Of Certificate Of Incorporation
  (a) The commissioner shall approve an application under this subchapter if the commissioner finds that: (1) the business of the association that is to be ...
• Texas Finance Code Section 62.101 - Organizational Meeting
  (a) Not later than the 30th day after the date the corporate existence of an association begins, the initial board shall hold an organizational meeting ...
• Texas Finance Code Section 62.102 - Board Of Directors
  (a) A board of not less than five or more than 21 directors shall direct the business of the association. The members or shareholders shall ...
• Texas Finance Code Section 62.103 - Qualification Of Directors
  (a) To be qualified for election as a director, a person must own, in good faith, in the person's own right, and as shown on ...
• Texas Finance Code Section 62.104 - Officers
  (a) The officers of an association are: (1) a president; (2) one or more vice presidents; (3) a secretary; and (4) other officers prescribed by ...
• Texas Finance Code Section 62.105 - Indemnity Bonds Of Directors, Officers, And Employees
  (a) An association shall maintain on file with the commissioner a blanket indemnity bond with an adequate corporate surety protecting the association from loss by ...
• Texas Finance Code Section 62.106 - Meetings Of Members And Shareholders
  (a) The annual meeting of the members or shareholders of an association shall be held at the time set by the bylaws of the association. ...
• Texas Finance Code Section 62.107 - Voting Rights
  (a) The bylaws of an association must specify the voting requirements, including quorum requirements, for conducting business at a meeting of the members or shareholders. ...
• Texas Finance Code Section 62.151 - Computation Of Income; Statement Of Condition
  (a) An association shall close its books at the times provided by its bylaws to determine the amount of its gross income for the period ...
• Texas Finance Code Section 62.152 - Minimum Net Worth Requirement
  An association shall meet minimum net worth requirements prescribed by rule of the finance commission. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. ...
• Texas Finance Code Section 62.153 - Insurance Of Savings Accounts
  (a) An association may obtain insurance for its savings accounts from the Federal Deposit Insurance Corporation. (b) Only if the account is insured by the ...
• Texas Finance Code Section 62.154 - Limitation On Issuance Of Securities
  An association may issue a form of stock, share, account, or investment certificate only as authorized by this subtitle. Acts 1997, 75th Leg., ch. 1008, ...
• Texas Finance Code Section 62.155 - Common Stock
  (a) An association may not issue common stock before the common stock is fully paid for in cash. (b) An association may not make a ...
• Texas Finance Code Section 62.156 - Preferred Stock
  (a) An association may not issue preferred stock before the preferred stock is fully paid for in cash. (b) An association may not make a ...
• Texas Finance Code Section 62.157 - Series And Classes Of Preferred Stock
  (a) The articles of incorporation may: (1) authorize that shares of preferred stock be divided into and issued in series; and (2) determine the rights ...
• Texas Finance Code Section 62.158 - Dividends On Capital Stock
  The board of a capital stock association may declare and pay a dividend out of current or retained income, in cash or additional stock, to ...
• Texas Finance Code Section 62.159 - Use Of Surplus Accounts And Expense Fund Contributions
  (a) At an association's closing date, the association may use all or part of a surplus account, whether earned or paid-in, or expense fund contributions ...
• Texas Finance Code Section 62.160 - Use Of Expense Fund Contributions
  (a) The expense of organizing the association, the association's operating expenses, and the dividends declared and paid or credited to the association's savings account holders ...
• Texas Finance Code Section 62.201 - Conditions For Conversion
  (a) The finance commission by rule shall establish the conditions under which an association may convert to a federal association under Section 5, Home Owners' ...
• Texas Finance Code Section 62.202 - Application To Convert
  (a) An association may convert to a federal association if a resolution favoring the conversion is adopted by a majority vote of the members or ...
• Texas Finance Code Section 62.203 - Review By Commissioner; Approval
  Not later than the 10th day after the date an application to convert is received, the commissioner shall: (1) consent in writing to the conversion; ...
• Texas Finance Code Section 62.204 - Hearing On Application
  (a) A hearing set under Section 62.203(2) shall be held not later than the 25th day after the date the application is filed unless a ...
• Texas Finance Code Section 62.205 - Consummation Of Conversion
  Within three months after the date the commissioner consents to the conversion of an association, the association shall take the action necessary under federal law ...
• Texas Finance Code Section 62.206 - Filing Of Charter Or Certificate
  (a) The converted association shall file with the commissioner: (1) a copy of the charter issued to the federal association by the Office of Thrift ...
• Texas Finance Code Section 62.207 - Effect Of Issuance Of Charter
  On the issuance of a charter by the Office of Thrift Supervision, the association: (1) ceases to be an association incorporated under this subtitle; and ...
• Texas Finance Code Section 62.208 - Continuation Of Corporate Existence
  After an association is converted to a federal association: (1) the corporate existence of the association continues; and (2) the federal association is considered to ...
• Texas Finance Code Section 62.209 - Property And Obligations Of Converted Association
  (a) The property of an association converted to a federal association immediately by operation of law vests in the federal association. (b) The federal association: ...
• Texas Finance Code Section 62.251 - Application To Convert
  (a) A federal association or state or national bank may convert to an association if the conversion is approved by a majority vote of the ...
• Texas Finance Code Section 62.252 - Election Of Directors; Execution And Acknowledgment Of Application And Bylaws
  (a) At the meeting under Section 62.251(a), the members or shareholders shall elect the directors of the association. (b) The directors shall execute two copies ...
• Texas Finance Code Section 62.253 - Review By Commissioner; Approval
  (a) On receipt of an application, the commissioner shall order an examination of the entity to be converted. (b) If the commissioner finds the entity ...
• Texas Finance Code Section 62.254 - Applicability Of Subtitle To Converted Association
  (a) To the extent applicable, this subtitle applies to an association incorporated under this subchapter. (b) An association incorporated under this subchapter: (1) is a ...
• Texas Finance Code Section 62.301 - Application To Convert To State Savings Bank
  An association may apply to the commissioner to convert to a state savings bank by filing an application with the commissioner. The application shall be ...
• Texas Finance Code Section 62.302 - Application To Convert To State Or National Bank Or State Or Federal Savings Bank
  (a) An association may convert to a state or national bank or state or federal savings bank if a resolution favoring the conversion is adopted ...
• Texas Finance Code Section 62.303 - Review By Commissioner; Approval
  (a) The commissioner shall approve the application if the commissioner determines that the association is in good standing. (b) For purposes of Subsection (a), an ...
• Texas Finance Code Section 62.304 - Filing Of Charter Or Certificate
  (a) The bank or savings bank shall file with the commissioner: (1) a copy of the charter issued to the bank or savings bank by ...
• Texas Finance Code Section 62.305 - Effect Of Approval Of Application And Issuance Of Charter
  On the commissioner's approval of the application for conversion and the appropriate financial institution regulatory agency's issuance of a charter, the bank or savings bank: ...
• Texas Finance Code Section 62.306 - Continuation Of Corporate Existence
  After an association is converted to a bank or savings bank: (1) the corporate existence of the association continues; and (2) the bank or savings ...
• Texas Finance Code Section 62.307 - Property And Obligations Of Converted Association
  (a) The property of an association converted to a bank or savings bank immediately by operation of law vests in the bank or savings bank. ...
• Texas Finance Code Section 62.351 - Authority To Reorganize, Merge, Or Consolidate
  (a) An association may reorganize, merge, or consolidate with another association, federal association, foreign association, state or national bank, or state or federal savings bank ...
• Texas Finance Code Section 62.352 - Continuation Of Corporate Existence; Home Office Of Surviving Entity
  (a) An entity that results from a reorganization, merger, or consolidation as provided by Section 62.351 has the same incidents as the reorganized, merged, or ...
• Texas Finance Code Section 62.353 - Notice And Hearing; Confidentiality
  (a) On presentation of a plan of reorganization, merger, or consolidation, the commissioner shall give: (1) public notice of the reorganization, merger, or consolidation in ...
• Texas Finance Code Section 62.354 - Denial By Commissioner Of Plan
  The commissioner shall issue an order denying the plan if the commissioner finds that: (1) the reorganization, merger, or consolidation would substantially lessen competition or ...
• Texas Finance Code Section 62.401 - Applicability Of Subchapter
  (a) This subchapter applies only to the merger or consolidation of a domestic association with a foreign association. (b) The requirements of and authority and ...
• Texas Finance Code Section 62.402 - Adoption Of Merger Or Consolidation Plan
  The board of directors of the foreign association must adopt the merger or consolidation plan. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. ...
• Texas Finance Code Section 62.403 - Notice And Hearing; Confidentiality
  If the commissioner considers the domestic association to be in an unsafe condition: (1) the notice and hearing provisions of Chapter 2001, Government Code, and ...
• Texas Finance Code Section 62.404 - Denial By Commissioner Of Application
  If the surviving association is a foreign association, the commissioner shall deny the application if: (1) the laws of the state in which the foreign ...
• Texas Finance Code Section 62.405 - Approval By Commissioner Of Plan
  (a) If the commissioner approves the plan of merger or consolidation, the commissioner shall issue an order approving the merger or consolidation. (b) If the ...
• Texas Finance Code Section 62.406 - Enforcement Of Condition, Restriction, Or Requirement On Surviving Foreign Association
  If the surviving association is a foreign association, the commissioner may enforce a condition, restriction, or requirement on the surviving association that could have been ...
• Texas Finance Code Section 62.451 - Authority To Merge
  One or more corporations organized under a law of this state may merge into an association that owns all of the corporations' capital stock if: ...
• Texas Finance Code Section 62.452 - Articles Of Merger
  (a) The articles of merger must: (1) be executed by the president or vice president and a secretary or assistant secretary of the association and ...
• Texas Finance Code Section 62.453 - Approval Of Merger
  (a) The secretary of state shall approve the articles of merger if the secretary of state determines that: (1) the articles of merger comply with ...
• Texas Finance Code Section 62.454 - Effect Of Merger
  (a) A merger takes effect on the date the last required certificate of merger is issued. (b) After the merger takes effect: (1) a corporation ...
• Texas Finance Code Section 62.455 - Inapplicability Of Subchapter H
  Subchapter H does not apply to a merger under this subchapter. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 62.501 - Resolution To Liquidate And Dissolve; Approval By Commissioner
  (a) An association may liquidate and dissolve if: (1) at an annual meeting or a special meeting called for that purpose, the members and shareholders ...
• Texas Finance Code Section 62.502 - Distribution Of Assets
  (a) The board, under the commissioner's supervision and in accordance with the approved liquidation plan, shall liquidate the affairs of the association and reduce the ...
• Texas Finance Code Section 62.503 - Final Report And Accounting
  (a) On completion of the liquidation, the board shall file with the commissioner a final report and accounting of the liquidation. (b) The commissioner's approval ...
• Texas Finance Code Section 62.551 - Inapplicability Of Subchapter
  This subchapter does not apply to a conversion, reorganization, merger, consolidation, or voluntary liquidation under Subchapter E, F, G, H, J, or K. Acts 1997, ...
• Texas Finance Code Section 62.552 - Effect Of Subchapter On Other Law
  This subchapter does not: (1) excuse or diminish the notice requirements prescribed by this subtitle; or (2) prevent the commissioner from investigating, commenting on, or ...
• Texas Finance Code Section 62.553 - Application For Change Of Control
  (a) Control of an association may be changed only if an application for approval of the change is filed with and approved by the commissioner. ...
• Texas Finance Code Section 62.554 - Application Filing Fee
  (a) The finance commission by rule shall adopt a schedule of fees for filing applications and holding hearings. The schedule may be graduated so that ...
• Texas Finance Code Section 62.555 - Denial Of Application
  (a) The commissioner by order shall deny an application unless the applicant establishes that: (1) the acquisition would not: (A) substantially lessen competition; (B) restrain ...
• Texas Finance Code Section 62.556 - Appeal To Commissioner Of Denial
  (a) If the commissioner denies an application, the applicant is entitled to a hearing if the applicant submits a written request for a hearing not ...
• Texas Finance Code Section 62.557 - Judicial Review
  (a) An applicant may appeal the commissioner's denial of an application or the commissioner's order affirming the denial only after a final order is entered. ...
• Texas Finance Code Section 62.558 - Unauthorized Change Of Control
  If it appears that a change in control may have taken place without approval, the commissioner may call a hearing to determine whether: (1) a ...
• Texas Finance Code Section 62.559 - Confidentiality
  (a) Except as provided by this section, information obtained by the commissioner under this subchapter is confidential and may not be disclosed by the commissioner ...
• Texas Finance Code Section 62.560 - Injunction
  (a) The attorney general on behalf of the commissioner may apply for equitable relief, including an order enjoining a violation, if the commissioner believes a ...
• Texas Finance Code Section 62.561 - Criminal Penalty
  (a) A person commits an offense if the person intentionally makes a materially false or misleading statement to the commissioner with respect to the information ...
• Texas Finance Code Section 63.001 - General Corporate Powers
  (a) An association has all the powers authorized by this subtitle and any other right, privilege, or power incidental to or reasonably necessary to accomplish ...
• Texas Finance Code Section 63.002 - Enlargement Of Powers
  Notwithstanding any other provision of this subtitle, an association may: (1) perform a function or engage in an activity, including making a loan or investment, ...
• Texas Finance Code Section 63.003 - Powers Of Federal Association
  A federal association and its members have all the powers, privileges, benefits, immunities, and exemptions provided by the law of this state for an association ...
• Texas Finance Code Section 63.004 - Power To Borrow
  (a) An association may: (1) borrow from any nongovernmental source an aggregate amount that does not exceed 25 percent of the amount of the association's ...
• Texas Finance Code Section 63.005 - Fiscal Agent
  (a) An association may act as fiscal agent of the United States. An association designated as fiscal agent of the United States by the secretary ...
• Texas Finance Code Section 63.006 - Power To Act Under Certain Federal Retirement Plans
  An association or a federal association, to the extent that its charter and applicable federal regulations permit, may: (1) exercise any power necessary to qualify ...
• Texas Finance Code Section 63.007 - Right To Act To Avoid Loss
  This subtitle or another statute of this state does not deny an association the right to invest its money, operate a business, manage or deal ...
• Texas Finance Code Section 63.008 - Closing Place Of Business
  An association or a federal savings and loan association operating in this state may close its place of business at any time its board determines. ...
• Texas Finance Code Section 63.009 - Emergency Closing
  (a) If the officers of an association determine that an emergency that affects or may affect the association's offices or operations exists or is impending, ...
• Texas Finance Code Section 63.010 - Effect Of Closing
  (a) A day on which an association or one or more of its operations is closed under Section 63.009 during all or part of its ...
• Texas Finance Code Section 64.001 - Adoption Of Rules
  (a) The finance commission shall adopt rules relating to the power of associations operating under this subtitle to make loans and investments. (b) Rules adopted ...
• Texas Finance Code Section 64.002 - Content Of Rules
  Rules adopted under this subchapter may include provisions governing: (1) types of loans an association may originate, make, or sell; (2) conditions under which an ...
• Texas Finance Code Section 64.003 - Prohibited Transactions
  An association may not engage in a transaction that violates a rule adopted under this subchapter. Acts 1997, 75th Leg., ch. 1008, § 1, eff. ...
• Texas Finance Code Section 64.021 - Borrower Payment Of Loan Expenses
  An association may require a borrower to pay all reasonable expenses incurred in connection with making, closing, disbursing, extending, readjusting, or renewing a loan. Acts ...
• Texas Finance Code Section 64.022 - Collection Of Loan Expenses
  An expense payment authorized by Section 64.021 may be: (1) collected by the association from the borrower and: (A) retained by the association; or (B) ...
• Texas Finance Code Section 64.023 - Character Of Loan Expense Payments
  An expense payment authorized by Section 64.021 is not interest or compensation charged by an association for the loan of money. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 64.041 - Penalty For Prepayment Or Late Payment
  An association may charge a penalty for a prepayment of or late payment on a loan. Acts 1997, 75th Leg., ch. 1008, § 1, eff. ...
• Texas Finance Code Section 64.042 - Application Of Prepayments To Loan Installments
  Unless otherwise agreed in writing, an association shall apply: (1) a prepayment of principal to the final installment of the obligation until the final installment ...
• Texas Finance Code Section 64.061 - Advances Paid By Association
  (a) An association may pay taxes, assessments, insurance premiums, and similar charges for the protection of the association's interest in property that secures a real ...
• Texas Finance Code Section 64.062 - Advances Are Lien On Property
  A payment under Section 64.061 is a lien against the real property that secures the loan for which it is made. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 64.063 - Payment Of Estimated Charges By Borrower
  (a) To enable the association to pay charges as they become due, an association may require a borrower to pay monthly in advance, in addition ...
• Texas Finance Code Section 64.064 - Record Of Charges
  An association shall keep a record of the status of taxes, assessments, insurance premiums, and other charges on real property securing the association's loans. Acts ...
• Texas Finance Code Section 64.081 - Required Investments
  An association shall maintain in the association's portfolio not less than 15 percent of the association's deposits from its local service area designated under Section ...
• Texas Finance Code Section 64.082 - Designation Of Local Service Area
  (a) The commissioner shall designate an association's local service area at the time of the association's incorporation. (b) Unless the commissioner and the association otherwise ...
• Texas Finance Code Section 64.083 - Rules
  The finance commission shall adopt rules to implement this subchapter, including rules that define the categories of loans and investments described by Section 64.081. Acts ...
• Texas Finance Code Section 64.084 - Waivers
  The commissioner may grant a limited-term waiver from the requirements of Section 64.081 if quality loans in the categories described by that section are not ...
• Texas Finance Code Section 64.101 - Real Property On Which Association Facility Is Located
  An association may own real property on which a facility used in connection with the operation of the association is located. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 64.102 - Disposal Of Other Real Property
  An association shall dispose of real property, other than real property described by Section 64.101, that is acquired by the association in the course of ...
• Texas Finance Code Section 64.103 - Transactions Relating To Association's Real Property
  On authorization by the association's board of directors, an association may sell, convey, exchange for other real property, lease, improve, repair, or mortgage real property. ...
• Texas Finance Code Section 64.104 - Record Of Charges On Real And Personal Property
  An association shall keep a record of the status of taxes, assessments, insurance premiums, and other charges on all real and personal property owned by ...
• Texas Finance Code Section 65.001 - Limitations On Accounts
  The board of directors of an association may limit the number and value of savings accounts the association may accept. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 65.002 - Investment In Accounts
  (a) Any person may be the holder of a savings account. (b) An investment in a savings account may be made only in cash. (c) ...
• Texas Finance Code Section 65.003 - Savings Contract
  (a) Each holder of a savings account must execute a savings contract. The contract must specify: (1) any special terms applicable to the account; and ...
• Texas Finance Code Section 65.004 - Evidence Of Account
  An association shall issue an account book or certificate to the holder of a savings account as evidence of the account. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 65.005 - Account Ownership
  Unless an association has acknowledged in writing a pledge of a savings account, the association may treat the holder of record of the account as ...
• Texas Finance Code Section 65.006 - Transfer Of Account
  (a) A savings account may be transferred only on the books of an association on presentation to the association of: (1) evidence of transfer satisfactory ...
• Texas Finance Code Section 65.007 - Lost Or Destroyed Account Book Or Certificate
  (a) An association may issue a new account book or certificate in the name of the holder of record of a savings account if: (1) ...
• Texas Finance Code Section 65.008 - Account Withdrawals
  (a) A savings account holder at any time may present a written order for withdrawal of all or part of the holder's account except to ...
• Texas Finance Code Section 65.009 - Interest Or Dividends Paid On Accounts
  (a) An association whose bylaws contain the provision authorized by Section 65.012 may contract to pay interest on savings accounts. (b) An association whose bylaws ...
• Texas Finance Code Section 65.010 - Redemption Of Savings Account
  (a) An association may redeem in the manner the board determines all or part of its savings accounts if the association: (1) redeems the accounts ...
• Texas Finance Code Section 65.011 - Lien On Savings Account
  (a) Without further agreement or pledge, an association or a federal association doing business in this state has a lien on all savings accounts owned ...
• Texas Finance Code Section 65.012 - Priority Of Accounts; Notice Of Withdrawal
  (a) An association's bylaws may provide that on voluntary or involuntary liquidation, dissolution, or winding up of the association, or in any other situation in ...
• Texas Finance Code Section 65.013 - Account As Legal Investment
  (a) Each of the following persons may invest money held by the person in a savings account of an association or a federal association: (1) ...
• Texas Finance Code Section 65.101 - Account Held By Minor
  (a) An association or a federal savings and loan association doing business in this state may accept a savings account from a minor as the ...
• Texas Finance Code Section 65.102 - Account Held By More Than One Person
  (a) If a savings account is opened in an association or a federal savings and loan association doing business in this state in the names ...
• Texas Finance Code Section 65.103 - Joint Tenancy Account Held By Husband And Wife
  (a) A husband and wife may enter into a savings contract that creates a joint tenancy with right of survivorship with respect to community property ...
• Texas Finance Code Section 65.104 - Pledge Of Joint Account
  (a) Unless the terms of the savings account provide otherwise, a person on whose signature money may be withdrawn from an account in the names ...
• Texas Finance Code Section 65.105 - Account Held By Fiduciary
  (a) An association or a federal savings and loan association doing business in this state may accept a savings account in the name of a ...
• Texas Finance Code Section 65.106 - Trust Account; Undisclosed Trust Instrument
  (a) If an association opens a savings account for a person claiming to be the trustee for another and the association has no other written ...
• Texas Finance Code Section 65.107 - Power Of Attorney Account
  (a) An association or a federal association doing business in this state may continue to recognize the authority of an attorney-in-fact authorized in writing to ...
• Texas Finance Code Section 66.001 - General Duties
  The Savings and Loan Department and the commissioner shall regulate associations and subsidiaries of associations operating under this subtitle. Acts 1997, 75th Leg., ch. 1008, ...
• Texas Finance Code Section 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 ...
• Texas Finance Code Section 66.051 - Examinations
  (a) The commissioner shall periodically examine the affairs of each association, including the subsidiaries and transactions of the association and the dealings of any savings ...
• Texas Finance Code Section 66.052 - Additional Examinations
  (a) The commissioner at the association's cost shall conduct an additional examination or audit or devote extraordinary attention to an association's affairs if the commissioner ...
• Texas Finance Code Section 66.053 - Access To Books And Records
  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 ...
• Texas Finance Code Section 66.054 - Subpoena; Administration Of Oath Or Affirmation
  (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; ...
• Texas Finance Code Section 66.101 - Intervention For Violations And Unsafe And Unsound Practices
  The commissioner may intervene in the affairs of an association if the association or a person who participates in the affairs of the association or ...
• Texas Finance Code Section 66.102 - Intervention For Filing Inappropriate Information
  The commissioner may intervene in the affairs of an association if the association or a person who participates in the affairs of the association or ...
• Texas Finance Code Section 66.103 - Intervention For Activity Resulting In Actual Or Potential Loss
  (a) The commissioner may intervene in the affairs of an association if a person who participates in the affairs of the association or a subsidiary ...
• Texas Finance Code Section 66.104 - Intervention Relating To Examination Of Affairs
  (a) The commissioner may intervene in the affairs of an association if a person who participates in the affairs of the association or a subsidiary ...
• Texas Finance Code Section 66.105 - Temporary Supervisory Order
  (a) If the commissioner has reasonable cause to believe that one or more of the grounds for intervention under Section 66.101 exists or is imminent, ...
• Texas Finance Code Section 66.106 - Service Of Temporary Supervisory Order
  (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 ...
• Texas Finance Code Section 66.107 - Hearing On Temporary Supervisory Order; Final Order
  (a) A temporary supervisory order issued under Section 66.105 becomes final and unappealable on the 16th day after the date on which the order is ...
• Texas Finance Code Section 66.108 - Plan Of Operation Of Association After Order Of Temporary Conservatorship
  (a) Before or during a hearing under Section 66.107 on a temporary supervisory order placing an association under the control of a conservator, the board ...
• Texas Finance Code Section 66.109 - Enforcement Of Supervisory Order
  (a) The commissioner, after giving notice, may assess against an association or another person designated in a final supervisory order who violates the order, or ...
• Texas Finance Code Section 66.110 - Stay Of Supervisory 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 ...
• Texas Finance Code Section 66.111 - Disclosure Of Information In Supervisory Order; Confidentiality
  (a) Except as provided by Subsection (b) or (c), information contained in a temporary or final supervisory order or a notice, correspondence, or other record ...
• Texas Finance Code Section 66.151 - Placement Of Association Under Conservatorship
  If the commissioner does not approve a plan to continue the operation of an association under Section 66.108, the conservator shall continue to manage the ...
• Texas Finance Code Section 66.152 - Duties Of Conservator
  (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 ...
• Texas Finance Code Section 66.153 - Term Of Conservator
  The conservator shall serve until the purposes of the conservatorship are accomplished. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 66.154 - Transfer Of Management Of Rehabilitated Association
  If the association is rehabilitated, the conservator shall return the management of the association to the association's board under terms that are reasonable and necessary ...
• Texas Finance Code Section 66.155 - Scope Of Authority Of Other Persons During Conservatorship
  During the conservatorship, a person who participates in the affairs of the association shall act according to the conservator's instructions and may exercise only the ...
• Texas Finance Code Section 66.156 - Cost Of Conservatorship
  (a) The commissioner shall determine the cost of the conservatorship. (b) The cost of conservatorship shall be paid from the association's assets. Acts 1997, 75th ...
• Texas Finance Code Section 66.157 - Venue
  A suit filed against an association or its conservator while a conservatorship order is in effect must be brought in Travis County. Acts 1997, 75th ...
• Texas Finance Code Section 66.201 - Placement Of Association Under Voluntary Supervisory Control
  (a) An association's board may consent to the commissioner's placement of the association under supervisory control. (b) The commissioner may appoint the supervisor and one ...
• Texas Finance Code Section 66.202 - Powers Of Supervisors
  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 ...
• Texas Finance Code Section 66.203 - Cost Of Supervisory Control
  The cost of the supervisory control of an association shall be set by the commissioner and paid by the association. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 66.251 - Closing Of Association By Board Resolution
  An association's board, by resolution and with the commissioner's consent, may close the association and tender to the commissioner for disposition as provided by this ...
• Texas Finance Code Section 66.252 - Closing Of Association By Commissioner's Order
  The commissioner or the commissioner's representative may close an association if the commissioner determines after an examination that: (1) the interests of the depositors and ...
• Texas Finance Code Section 66.253 - Notice Of Closing
  (a) Immediately after an association is closed by its board or by the commissioner under this subchapter, the commissioner shall post at the main entrance ...
• Texas Finance Code Section 66.254 - Effect Of Closing
  (a) On closing an association under this subchapter, the commissioner may: (1) liquidate the association as provided by Subchapter E; or (2) tender the association's ...
• Texas Finance Code Section 66.255 - Hearing On Commissioner's Order
  (a) Not later than the second day, excluding legal holidays, after the date on which the commissioner closes an association under Section 66.252, the association, ...
• Texas Finance Code Section 66.301 - Liquidation Of Association
  (a) If the commissioner doubts that an association subject to a conservatorship order can be rehabilitated, the commissioner may set a hearing to determine whether ...
• Texas Finance Code Section 66.302 - Removal Or Replacement Of Liquidating Agent
  (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 ...
• Texas Finance Code Section 66.303 - Duties Of Liquidating Agent
  (a) Under the commissioner's supervision, the liquidating agent shall: (1) receive and take possession of the books, records, assets, and property of the association; (2) ...
• Texas Finance Code Section 66.304 - Notice
  (a) Under the commissioner's supervision, the liquidating agent shall give notice to creditors and savings account holders directing them to present and prove their claims ...
• Texas Finance Code Section 66.305 - Presentation Of Claim
  (a) To be entitled to priority, each person asserting a claim against an association being liquidated under this subchapter must present the claim in writing ...
• Texas Finance Code Section 66.306 - Priority Of Claims
  On liquidation of an association, claims for payment have the following priority: (1) obligations incurred by the commissioner or the liquidating agent, fees and assessments ...
• Texas Finance Code Section 66.307 - Action On Claim
  (a) Within three months after the date of receipt of a claim against an association being liquidated, the liquidating agent shall approve or reject the ...
• Texas Finance Code Section 66.308 - Hearing On Claim; Appeal Of Adverse Determination Of Claim
  (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 ...
• Texas Finance Code Section 66.309 - Payment Of Final Dividend
  (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 ...
• Texas Finance Code Section 66.310 - Deposit Of Money By Liquidating Agent
  The liquidating agent shall deposit all unclaimed dividends and all money available for nonclaiming depositors and creditors in one or more state-chartered financial institutions for ...
• Texas Finance Code Section 66.311 - Payment Of Nonclaiming Depositors And Creditors
  (a) Except as provided by Subsection (b), the liquidating agent, on demand, shall pay a depositor or creditor of the association who does not make ...
• Texas Finance Code Section 66.312 - Cost Of Liquidation
  (a) The commissioner shall determine the cost of the liquidation. (b) The cost of liquidation shall be paid from the association's assets as the commissioner ...
• Texas Finance Code Section 66.313 - Final Report
  After paying a final dividend as provided by Section 66.309 and performing any necessary or proper action in liquidating the association's assets for the benefit ...
• Texas Finance Code Section 66.314 - Continued Existence Of Association Following Liquidation
  For the purposes of adjusting and settling claims not disposed of during the liquidation, the association continues to exist until the third anniversary of the ...
• Texas Finance Code Section 66.315 - Special Liquidating Agent
  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 ...
• Texas Finance Code Section 66.316 - Closing Of Liquidation; Order And Liability
  (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 ...
• Texas Finance Code Section 66.317 - Administrative Procedure
  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, ...
• Texas Finance Code Section 66.351 - Placement Of Certain Associations In Receivership
  (a) After a final liquidation order has been issued under Subchapter F or G for an association the deposits of which are not insured by ...
• Texas Finance Code Section 66.352 - Duties Of Receiver
  On appointment, the receiver shall: (1) immediately take charge of the affairs of the association, subject to the direction of the court; and (2) conduct ...
• Texas Finance Code Section 66.353 - Compensation Of Receiver
  The receiver is entitled to compensation as determined by the court. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 66.354 - Effect Of Receivership On Commissioner And Liquidating Agent
  (a) On appointment of the receiver, the commissioner and liquidating agent are discharged from further duty in connection with the administration or regulation of the ...
• Texas Finance Code Section 66.355 - Receipt Of Items As Evidence In Receivership Proceeding; Certification
  (a) A book, record, document, or paper of the association received and held by the receiver during the receivership proceeding or a certified copy of ...
• Texas Finance Code Section 66.356 - Title And Custody Of Association's Assets
  (a) The property and assets of the association are in the custody of the court from the date the receivership begins. (b) The receiver and ...
• Texas Finance Code Section 66.401 - Derivative Suit
  (a) The commissioner may bring a derivative suit on behalf of an association on an unpursued cause of action if: (1) the commissioner determines that ...
• Texas Finance Code Section 66.402 - Payment Of Insured Deposit Liabilities By Fdic
  If the Federal Deposit Insurance Corporation pays the insured deposit liabilities of an association that has been closed or is being liquidated under this chapter, ...
• Texas Finance Code Section 66.403 - Enforceability Of Loan Promise Or Agreement Made By Association Before Conservatorship Or Supervisory Control
  If a promise or agreement to lend money is not otherwise unenforceable under Chapter 26, Business & Commerce Code, and if the promise or agreement ...
• Texas Finance Code Section 67.001 - Limitation On Right To Do Business As Savings And Loan Association
  (a) A person may not do business as a savings and loan association in this state or maintain an office in this state for the ...
• Texas Finance Code Section 67.002 - Application Of Law And Rules
  This subtitle and each rule adopted under this subtitle apply to the operations in this state of a foreign association and may be enforced by ...
• Texas Finance Code Section 67.003 - Contracts Construed Under Law Of This State
  A contract between a foreign association and a resident of this state is governed by the laws of this state. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 67.004 - Federal Associations
  A federal association is not a foreign corporation or foreign association for purposes of this subtitle. Acts 1997, 75th Leg., ch. 1008, § 1, eff. ...
• Texas Finance Code Section 67.101 - Powers Of Foreign Association; Eligibility Of Accounts For Investment
  (a) A foreign association operating under a certificate of authority has the rights and privileges of an association created under this subtitle. The association's accounts ...
• Texas Finance Code Section 67.201 - Renewal Of Certificate
  A foreign association may renew a certificate of authority by paying a renewal fee in January of each year. The finance commission by resolution shall ...
• Texas Finance Code Section 67.202 - Revocation Of Certificate
  (a) The commissioner may revoke a foreign association's certificate of authority on the failure or refusal of the association to comply with a final order ...
• Texas Finance Code Section 67.301 - Frequency Of Examination
  A foreign association may not be examined more than once each year. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 67.302 - Examination Charges
  A foreign association holding a certificate of authority shall pay: (1) an examination fee in the amount set for a domestic association under Section 61.007; ...
• Texas Finance Code Section 67.303 - Agreement With Regulatory Authority Of Other State
  (a) The commissioner, in exercising the supervisory and regulatory authority granted under Chapter 66, may enter into a cooperative agreement with a regulatory authority of ...
• Texas Finance Code Section 67.304 - Commissioner's Authority To Issue Orders
  The commissioner may issue an order against a foreign association holding a certificate of authority in the same manner provided by Chapter 66 for issuance ...
• Texas Finance Code Section 89.001 - Applicability Of Chapter 4, Business & Commerce Code
  Chapter 4, Business & Commerce Code, applies to an association with respect to an item paid, collected, settled, negotiated, or otherwise handled by the association ...
• Texas Finance Code Section 89.002 - Acknowledgment Or Proof Taken By Member, Stockholder, Or Employee Of Association
  A public officer who is qualified to take an acknowledgment or proof of a written instrument and who is a member or employee of, or ...
• Texas Finance Code Section 89.003 - Rendition Of Certain Personal Property For Ad Valorem Taxation
  (a) Each association and each federal association shall render for ad valorem taxation all of its personal property, other than furniture, fixtures, equipment, and automobiles, ...
• Texas Finance Code Section 89.004 - Initiation Of Rulemaking By Associations
  The finance commission shall initiate rulemaking proceedings if at least 20 percent of the associations petition the finance commission in writing requesting the adoption, amendment, ...
• Texas Finance Code Section 89.005 - Exemption From Securities Laws
  A savings account, certificate, or other evidence of an interest in the savings liability of an association or federal association is not considered a security ...
• Texas Finance Code Section 89.006 - Liability Of Commissioner And Other Commission Personnel; Defense By Attorney General
  (a) The commissioner, a member of the finance commission, a deputy commissioner, an examiner, or any other officer or employee of the Savings and Loan ...
• Texas Finance Code Section 89.007 - Association Authorized To Conduct Savings And Loan Business Under Prior Law Now Subject To Subtitle
  (a) An association or corporation that was authorized to conduct a building and loan association, savings and loan association, building society, or other similar business ...
• Texas Finance Code Section 89.008 - Offices Of Federal Associations
  A federal association that has been merged, consolidated, or converted into a domestic or foreign savings bank or association is entitled to retain any authorized ...
• Texas Finance Code Section 89.051 - Access To Books And Records Of Association
  (a) The books and records of an association may be examined only by: (1) the commissioner or the commissioner's representative in accordance with Sections 66.051, ...
• Texas Finance Code Section 89.052 - Disclosure Of Information Held By Department About An Association; Liability
  (a) The commissioner and an examiner, supervisor, conservator, liquidator, inspector, deputy, assistant, clerk, or other employee of the Savings and Loan Department who is appointed ...
• Texas Finance Code Section 89.101 - Criminal Slander
  (a) A person commits an offense if the person, with intent to injure an association or a federal association in this state: (1) knowingly makes, ...
• Texas Finance Code Section 89.102 - General Administrative Penalty
  (a) The commissioner may require an association that knowingly violates this subtitle or a rule adopted under this subtitle to pay to the Savings and ...
• Texas Finance Code Section 91.001 - Short Title
  This subtitle may be cited as the Texas Savings Bank Act. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 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; ...
• Texas Finance Code Section 91.003 - Control; Subsidiary
  (a) For purposes of this subtitle, a person controls a savings bank if the person has the power to direct or cause the direction of ...
• Texas Finance Code Section 91.004 - Notice Of Hearing; Right To Respond
  (a) Notice of a hearing under this subtitle shall be given to each domestic and federal savings bank in the county in which the subject ...
• Texas Finance Code Section 91.005 - Record Of Proceeding
  On written request by an interested party, the commissioner shall keep a formal record of the proceedings of a hearing under this subtitle. Acts 1997, ...
• Texas Finance Code Section 91.006 - Decision Or Order
  (a) A decision or order adverse to a party who appeared and participated in a hearing must be in writing and include separately stated findings ...
• Texas Finance Code Section 91.007 - Fees
  The finance commission by rule shall: (1) set the amount of fees the commissioner charges for: (A) supervision and examination of savings banks; (B) filing ...
• Texas Finance Code Section 92.001 - Applicability Of Other Law
  (a) With respect to a savings bank, other than a savings bank organized as a limited savings bank, organized before January 1, 2006, the Texas ...
• Texas Finance Code Section 92.051 - Application To Incorporate
  (a) Five or more adult residents of this state may apply to incorporate a savings bank by submitting to the commissioner: (1) an application to ...
• Texas Finance Code Section 92.052 - Additional Requirements For Capital Stock Savings Bank
  (a) A capital stock savings bank's articles of incorporation must include a statement of: (1) the aggregate number of shares of common stock that the ...
• Texas Finance Code Section 92.053 - Additional Requirements For Mutual Savings Bank
  (a) A mutual savings bank's articles of incorporation must include a statement of the amount of deposit liability of the savings bank and the amount ...
• Texas Finance Code Section 92.054 - Minimum Initial Capital
  (a) The finance commission by rule shall set the minimum initial capital of a savings bank in an amount not less than the greater of: ...
• Texas Finance Code Section 92.055 - Approval Of Managing Officer
  (a) A savings bank may not begin business before: (1) it presents to the commissioner the name and qualifications of its managing officer; and (2) ...
• Texas Finance Code Section 92.056 - Corporate Name
  (a) The name of a savings bank must include the words "State Savings Bank" or the abbreviation "SSB," preceded by one or more appropriate descriptive ...
• Texas Finance Code Section 92.057 - Hearing On Application To Incorporate
  (a) On the filing of a complete application to incorporate, as defined by rules adopted by the finance commission, the commissioner shall: (1) issue public ...
• Texas Finance Code Section 92.058 - Decision On Application To Incorporate; Issuance Of Certificate Of Incorporation
  (a) Not later than the 30th day after the date the hearing ends, the commissioner shall enter a final order approving or denying the application. ...
• Texas Finance Code Section 92.059 - Judicial Review
  (a) An applicant may appeal a final order with the commissioner as defendant. (b) A party to the action may appeal the court's decision. The ...
• Texas Finance Code Section 92.060 - Preference For Local Control
  If more than one application to incorporate a new savings bank or establish an additional office of an existing savings bank in the same community ...
• Texas Finance Code Section 92.061 - Deadline For Commencing Business
  (a) A savings bank shall begin business not later than the first anniversary of the date the commissioner approves the savings bank's application. (b) On ...
• Texas Finance Code Section 92.062 - Amendment Of Articles Of Incorporation Or Bylaws
  (a) A savings bank may amend its articles of incorporation or bylaws by a resolution adopted by a majority vote of those entitled to vote ...
• Texas Finance Code Section 92.063 - Change Of Office Or Name; Establishment Of Additional Offices
  (a) Only with the prior approval of the commissioner given in accordance with rules of the finance commission may a savings bank: (1) establish an ...
• Texas Finance Code Section 92.101 - Purpose Of Incorporation
  A person may apply to incorporate a savings bank for the purpose of: (1) purchasing the assets, assuming the liabilities other than liability to shareholders, ...
• Texas Finance Code Section 92.102 - Incorporation Requirements
  (a) An application to incorporate a savings bank under this subchapter must be submitted to the commissioner. (b) The application must include information required by ...
• Texas Finance Code Section 92.103 - Decision On Application; Issuance Of Certificate Of Incorporation
  (a) The commissioner shall approve an application under this subchapter if the commissioner finds that: (1) the business of the financial institution that is to ...
• Texas Finance Code Section 92.151 - Organizational Meeting
  (a) Not later than the 30th day after the date the corporate existence of a savings bank begins, the initial board shall hold an organizational ...
• Texas Finance Code Section 92.152 - Board Of Directors
  (a) A board of not fewer than five or more than 21 directors shall direct the business of a savings bank. The members or shareholders ...
• Texas Finance Code Section 92.153 - Qualification Of Directors
  (a) A person is not qualified to be a director of a savings bank if the person: (1) is less than 18 years of age; ...
• Texas Finance Code Section 92.154 - Officers
  (a) The officers of a savings bank are: (1) a president; (2) one or more vice presidents; (3) a secretary; and (4) other officers prescribed ...
• Texas Finance Code Section 92.155 - Conflicts Of Interest
  (a) Except as the finance commission by rule provides, a director or officer may not: (1) receive directly or indirectly a commission on or benefit ...
• Texas Finance Code Section 92.156 - Indemnity Bonds Of Directors, Officers, And Employees
  (a) A savings bank shall maintain a blanket indemnity bond with an adequate corporate surety protecting the savings bank from loss by or through dishonest ...
• Texas Finance Code Section 92.157 - Meetings Of Members Or Shareholders
  (a) The members or shareholders of a savings bank shall hold an annual meeting at the time fixed in the savings bank's bylaws. (b) A ...
• Texas Finance Code Section 92.158 - Voting Rights
  (a) The voting rights of a person entitled to vote at an annual or special meeting of a savings bank are the same as those ...
• Texas Finance Code Section 92.201 - Books And Records
  A savings bank shall maintain its books and records according to generally accepted accounting principles and to rules adopted by the finance commission. Acts 1997, ...
• Texas Finance Code Section 92.202 - Liquidity
  Unless approved in advance by the commissioner, a savings bank shall maintain an amount equal to at least 10 percent of its average daily deposits ...
• Texas Finance Code Section 92.203 - Regulatory Capital
  A savings bank shall maintain regulatory capital in the amount prescribed by rule of the finance commission. The amount may not be less than the ...
• Texas Finance Code Section 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 ...
• Texas Finance Code Section 92.205 - Computation Of Income
  (a) A savings bank shall close its books at the times provided by its bylaws to determine its gross income for the period since the ...
• Texas Finance Code Section 92.206 - Insurance Of Deposit Accounts
  A savings bank shall obtain and maintain federal insurance of deposit accounts through an insurance corporation created by an Act of the United States Congress. ...
• Texas Finance Code Section 92.207 - Limitation On Issuance Of Securities
  A savings bank may issue a form of stock, share, account, or investment certificate only as authorized by this subtitle or as permitted for a ...
• Texas Finance Code Section 92.208 - Common Stock
  (a) A savings bank may not issue common stock before the common stock is fully paid for in cash. (b) A savings bank may not ...
• Texas Finance Code Section 92.209 - Preferred Stock
  (a) A savings bank may not issue preferred stock before the preferred stock is fully paid for in cash. (b) A savings bank may not ...
• Texas Finance Code Section 92.210 - Series And Classes Of Preferred Stock
  (a) The articles of incorporation may: (1) authorize that shares of preferred stock be divided into and issued in series; and (2) determine the rights ...
• Texas Finance Code Section 92.211 - Dividends On Capital Stock
  (a) The board of a capital stock savings bank may declare and pay a dividend out of current or retained income, in cash or additional ...
• Texas Finance Code Section 92.212 - Use Of Surplus Accounts And Expense Fund Contributions
  (a) At a savings bank's closing date, the savings bank may use all or part of a surplus account, whether earned or paid in, or ...
• Texas Finance Code Section 92.213 - Use Of Expense Fund Contributions
  (a) The expense of organizing a savings bank, its operating expenses, and earnings on accounts declared and paid or credited to its deposit account holders ...
• Texas Finance Code Section 92.251 - Conditions For Conversion
  (a) The finance commission by rule shall establish the conditions under which a savings bank may convert to another financial institution. (b) The rules must ...
• Texas Finance Code Section 92.252 - Application For Conversion
  (a) A savings bank may convert to another financial institution if a resolution declaring the conversion is adopted by a majority vote of the members ...
• Texas Finance Code Section 92.253 - Action By Commissioner On Application
  Not later than the 10th day after the date an application to convert is received, the commissioner shall: (1) consent by written order to the ...
• Texas Finance Code Section 92.254 - Hearing On Application
  (a) A hearing set under Section 92.253(2) must be held not later than the 25th day after the date the application is filed unless a ...
• Texas Finance Code Section 92.255 - Consummation Of Conversion
  Within three months after the date of the commissioner's written order consenting to the conversion, the savings bank shall consummate the conversion in the manner ...
• Texas Finance Code Section 92.256 - Filing Of Charter Or Certificate
  (a) The new financial institution shall file with the commissioner: (1) a copy of the charter issued to the new financial institution by the appropriate ...
• Texas Finance Code Section 92.257 - Effect Of Issuance Of Charter
  On the issuance of a charter by the appropriate banking agency, the savings bank: (1) ceases to be a savings bank incorporated under this subtitle; ...
• Texas Finance Code Section 92.258 - Continuation Of Corporate Existence
  After a savings bank is converted to another financial institution: (1) the corporate existence of the savings bank continues; and (2) the new financial institution ...
• Texas Finance Code Section 92.259 - Property And Obligations Of Converted Savings Bank
  The new financial institution: (1) retains any property, right, or obligation of the converted savings bank; and (2) to the extent the provisions can be ...
• Texas Finance Code Section 92.301 - Application To Convert
  (a) Another financial institution may convert to a savings bank if the conversion is approved by a majority vote of the members or shareholders of ...
• Texas Finance Code Section 92.302 - Election Of Directors; Execution And Acknowledgment Of Application And Bylaws
  (a) At the meeting under Section 92.301(a), the members or shareholders shall elect directors of the savings bank. (b) The directors, or the president and ...
• Texas Finance Code Section 92.303 - Review By Commissioner; Approval
  (a) On receipt of the application, the commissioner shall conduct an examination of the financial institution seeking conversion. (b) After the examination, the commissioner shall ...
• Texas Finance Code Section 92.304 - Hearing On Denial; Appeal
  (a) An applicant is entitled to a hearing under Chapter 2001, Government Code, if: (1) the commissioner denies an application to convert; and (2) a ...
• Texas Finance Code Section 92.305 - Continuation Of Corporate Existence
  After another financial institution is converted to a savings bank: (1) the corporate existence of the financial institution continues; and (2) the savings bank is ...
• Texas Finance Code Section 92.306 - Property And Obligations Of Converted Institution
  (a) The property of another financial institution that converts to a savings bank vests in the savings bank. (b) The savings bank: (1) holds the ...
• Texas Finance Code Section 92.307 - Effect Of Conversion On Pending Legal Action
  (a) A judicial proceeding to which the financial institution that converted is a party is not abated or discontinued by reason of the conversion and ...
• Texas Finance Code Section 92.308 - Local Filing Of Conversion Order Required
  The savings bank shall file a copy of the order of conversion in each county in which the financial institution that converted owned real property ...
• Texas Finance Code Section 92.351 - Authority To Reorganize, Merge, Or Consolidate
  (a) A savings bank may reorganize, merge, or consolidate with a corporation, another financial institution, or another entity under a plan adopted by the board. ...
• Texas Finance Code Section 92.352 - Notice And Hearing; Confidentiality
  (a) On receiving a plan of reorganization, merger, or consolidation, the commissioner shall give: (1) public notice of the reorganization, merger, or consolidation in each ...
• Texas Finance Code Section 92.353 - Denial By Commissioner Of Plan
  The commissioner shall issue an order denying the plan if: (1) the reorganization, merger, or consolidation would substantially lessen competition or restrain trade and would ...
• Texas Finance Code Section 92.354 - Alternative Or Additional Procedures
  If the surviving financial institution is an entity other than a savings bank, the commissioner may accept, in addition to or instead of the requirements ...
• Texas Finance Code Section 92.355 - Continuation Of Corporate Existence; Home Office Of Surviving Entity
  (a) An entity that results from a reorganization, merger, or consolidation as provided by Section 92.351 has the property rights and obligations of the reorganized, ...
• Texas Finance Code Section 92.401 - Applicability Of Subchapter
  (a) Except as provided by Section 92.407, this subchapter applies only to the merger or consolidation of a domestic savings bank with a foreign savings ...
• Texas Finance Code Section 92.402 - Adoption Of Merger Or Consolidation Plan
  The board of the foreign savings bank must adopt the merger or consolidation plan. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 92.403 - Notice And Hearing; Confidentiality
  If the commissioner considers the domestic savings bank to be in an unsafe condition: (1) the provisions of Chapter 2001, Government Code, applicable to a ...
• Texas Finance Code Section 92.404 - Denial By Commissioner Of Application
  If the surviving savings bank is a foreign savings bank, the commissioner shall deny the application if: (1) the law of the state in which ...
• Texas Finance Code Section 92.405 - Approval By Commissioner Of Plan
  (a) If the commissioner approves the plan of merger or consolidation, the commissioner shall issue an order approving the merger or consolidation. (b) If the ...
• Texas Finance Code Section 92.406 - Enforcement Of Condition, Restriction, Or Requirement On Surviving Foreign Savings Bank
  If the surviving savings bank is a foreign savings bank, the commissioner may enforce a condition, restriction, or requirement on the surviving savings bank that ...
• Texas Finance Code Section 92.407 - Merger Of Foreign Savings And Loan Association
  (a) A foreign savings and loan association may merge with a domestic savings bank under this subchapter as if the foreign savings and loan association ...
• Texas Finance Code Section 92.451 - Authority To Merge
  One or more corporations organized under the law of this state may merge into a savings bank that owns all the corporations' capital stock if: ...
• Texas Finance Code Section 92.452 - Articles Of Merger
  (a) The articles of merger must: (1) be executed by the president or vice president and a secretary or assistant secretary of the savings bank ...
• Texas Finance Code Section 92.453 - Approval Of Merger
  (a) The secretary of state shall approve the articles of merger if the secretary of state determines that: (1) the articles of merger comply with ...
• Texas Finance Code Section 92.454 - Effect Of Merger
  (a) A merger takes effect on the date the last required certificate of merger is issued. (b) After the merger takes effect: (1) a corporation ...
• Texas Finance Code Section 92.455 - Inapplicability Of Subchapter H
  Subchapter H does not apply to a merger under this subchapter. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 92.501 - Resolution To Liquidate And Dissolve
  (a) A savings bank may liquidate and dissolve if: (1) at an annual meeting or a special meeting called for the purpose, the members or ...
• Texas Finance Code Section 92.502 - Distribution Of Assets
  (a) The board, under the commissioner's supervision and in accordance with the approved liquidation plan, shall liquidate the affairs of the savings bank and reduce ...
• Texas Finance Code Section 92.503 - Final Report And Accounting
  (a) On completion of the liquidation, the board shall file with the commissioner a final report and accounting of the liquidation. (b) The commissioner's approval ...
• Texas Finance Code Section 92.551 - Inapplicability Of Subchapter
  This subchapter does not apply to a conversion, reorganization, merger, consolidation, or voluntary liquidation under Subchapter F, G, H, J, or K. Acts 1997, 75th ...
• Texas Finance Code Section 92.552 - Effect Of Subchapter On Other Law
  This subchapter does not: (1) excuse or diminish notice requirements prescribed by this subtitle; or (2) prevent the commissioner from investigating, commenting on, or seeking ...
• Texas Finance Code Section 92.553 - Application For Change Of Control
  (a) Control of a savings bank may change only if an application for approval of the change of control is filed with and approved by ...
• Texas Finance Code Section 92.554 - Notice Of Application
  (a) On receipt of an application, the commissioner shall submit to the Texas Register for publication in the next issue after the date the application ...
• Texas Finance Code Section 92.555 - Confidentiality
  (a) Except as provided by this section, information the commissioner obtains under this subchapter that is not published is confidential and may not be disclosed ...
• Texas Finance Code Section 92.556 - Denial Of Application
  (a) The commissioner by order shall deny an application unless the applicant establishes that: (1) the acquisition would not: (A) substantially lessen competition; (B) restrain ...
• Texas Finance Code Section 92.557 - Notice Of Intent To Deny; Hearing
  (a) Not later than the 60th day after the date the application is filed, the commissioner shall: (1) approve the application without a hearing; or ...
• Texas Finance Code Section 92.558 - Judicial Review
  (a) An applicant may appeal a final order with the commissioner as defendant. (b) A party to the action may appeal the court's decision. The ...
• Texas Finance Code Section 92.559 - Unauthorized Change Of Control
  If it appears that a change in control may have occurred without prior approval, the commissioner may call a hearing to determine whether: (1) a ...
• Texas Finance Code Section 92.560 - Injunction
  (a) The attorney general on behalf of the commissioner may apply for equitable relief as the case may require, including an order prohibiting the violation, ...
• Texas Finance Code Section 92.561 - Criminal Penalty
  (a) A person commits an offense if the person intentionally makes a materially false or misleading statement to the commissioner with respect to the information ...
• Texas Finance Code Section 92.601 - Application To Organize
  (a) Five or more adult residents of this state may apply to organize a savings bank as a limited savings bank by submitting to the ...
• Texas Finance Code Section 92.602 - Liability Of Members And Managers
  A member, transferee of a member, or manager of a limited savings bank is not liable for a debt, obligation, or liability of the limited ...
• Texas Finance Code Section 92.603 - Contributions
  A member of a limited savings bank is obligated to make contributions as required in the company agreement. Added by Acts 2005, 79th Leg., ch. ...
• Texas Finance Code Section 92.604 - Managers Of Limited Savings Bank
  (a) Management of a limited savings bank shall be exercised by a board of managers consisting of not fewer than five or more than 21 ...
• Texas Finance Code Section 92.605 - Withdrawal Or Reduction Of Member's Contribution
  (a) A member may not receive from a limited savings bank any part of the member's contribution except as provided by rule adopted by the ...
• Texas Finance Code Section 92.606 - Company Agreement Of Limited Savings Bank
  (a) A limited savings bank shall adopt a company agreement that contains provisions regulating the management and organization of the limited savings bank. The agreement ...
• Texas Finance Code Section 92.607 - Dissolution
  (a) A limited savings bank organized under this subchapter is dissolved on: (1) the expiration of the period fixed for the duration of the limited ...
• Texas Finance Code Section 92.608 - Allocation Of Profits And Losses
  The profits and losses of a limited savings bank may be allocated among the members and among classes of members as provided by the company ...
• Texas Finance Code Section 92.609 - Distributions
  Subject to rules adopted by the finance commission, distributions of cash or other assets of a limited savings bank may be made to the members ...
• Texas Finance Code Section 92.610 - Amendment Of Governing Documents
  (a) A limited savings bank may amend its certificate of formation by a majority vote of the members cast at any annual meeting or a ...
• Texas Finance Code Section 92.611 - Application Of Other Provisions To Limited Savings Banks; Miscellaneous Provisions
  (a) This subtitle applies to a savings bank organized as a limited savings bank under this subchapter. In the event of a conflict between this ...
• Texas Finance Code Section 93.001 - General Corporate Powers
  (a) A savings bank has the powers authorized by this subtitle and any other right, privilege, or power incidental to or reasonably necessary to accomplish ...
• Texas Finance Code Section 93.002 - Enlargement Of Powers
  (a) The finance commission by rule may expand the powers of savings banks to accommodate or take advantage of changing technology and to enable domestic ...
• Texas Finance Code Section 93.003 - Powers Of Federal Savings Bank
  A federal savings bank and its members have all of the powers, privileges, benefits, immunities, and exemptions that are provided by the law of this ...
• Texas Finance Code Section 93.004 - Power To Borrow
  (a) A savings bank may borrow and give security, subject to rules adopted by the finance commission. (b) A savings bank at any time through ...
• Texas Finance Code Section 93.005 - Fiscal Agent
  (a) A savings bank may act as fiscal agent of the United States. A savings bank designated as fiscal agent of the United States by ...
• Texas Finance Code Section 93.006 - Power To Act Under Certain Federal Retirement Plans
  A savings bank or a federal savings bank, to the extent that its charter and applicable federal regulations permit, may: (1) exercise any power necessary ...
• Texas Finance Code Section 93.007 - Trust Powers
  (a) A savings bank may exercise trust powers only with the commissioner's prior written approval. (b) The commissioner may approve the exercise of trust powers ...
• Texas Finance Code Section 93.008 - Powers Relative To Other Financial Institutions
  (a) Subject to limitations prescribed by rule of the finance commission, a savings bank may make a loan or investment or engage in an activity ...
• Texas Finance Code Section 93.009 - Right To Act To Avoid Loss
  (a) This subtitle does not deny a savings bank the right to invest its money, operate a business, manage or deal in property, or take ...
• Texas Finance Code Section 93.010 - Closing Place Of Business
  A savings bank may close its place of business at any time its board of directors determines. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 93.011 - Emergency Closing
  (a) If the officers of a savings bank determine that an emergency that affects or may affect the savings bank's offices or operations exists or ...
• Texas Finance Code Section 93.012 - Effect Of Closing
  (a) A day on which a savings bank or one or more of its operations are closed under Section 93.011 during all or part of ...
• Texas Finance Code Section 94.001 - Loans To One Borrower
  (a) The finance commission by rule may limit loans to one borrower. Those limits may not be less restrictive than the limits imposed on savings ...
• Texas Finance Code Section 94.002 - Commercial Loans
  (a) Subject to rules adopted by the finance commission, a savings bank may lend or invest not more than 40 percent of the savings bank's ...
• Texas Finance Code Section 94.051 - Borrower Payment Of Loan Expenses
  Subject to Section 94.052, a savings bank may require a borrower to pay all reasonable expenses incurred in connection with making, closing, disbursing, extending, readjusting, ...
• Texas Finance Code Section 94.052 - Consumer Loans
  In the case of a consumer loan: (1) a savings bank may charge a borrower the reasonable value of services rendered in connection with making ...
• Texas Finance Code Section 94.053 - Collection Of Loan Expenses
  An expense payment authorized by this subchapter may be: (1) collected by the savings bank from the borrower and: (A) retained by the savings bank; ...
• Texas Finance Code Section 94.054 - Character Of Loan Expense Payments
  An expense payment authorized by this subchapter is not interest or compensation charged by a savings bank for the loan of money. Acts 1997, 75th ...
• Texas Finance Code Section 94.101 - Penalty For Prepayment Or Late Payment
  A savings bank may charge a penalty for a prepayment of or late payment on a loan. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 94.102 - Application Of Prepayments To Loan Installments
  Unless otherwise agreed in writing, a savings bank shall apply: (1) a prepayment of principal to the final installment of the obligation until the final ...
• Texas Finance Code Section 94.151 - Advances Paid By Savings Bank
  (a) A savings bank may pay taxes, assessments, insurance premiums, and similar charges for the protection of the savings bank's interest in property that secures ...
• Texas Finance Code Section 94.152 - Advances Are Lien On Property
  A payment under Section 94.151 is a lien against the real property that secures the loan for which it is made. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 94.153 - Payment Of Estimated Charges By Borrower
  (a) To enable the savings bank to pay charges as they become due, a savings bank may require a borrower to pay monthly in advance, ...
• Texas Finance Code Section 94.154 - Record Of Charges
  A savings bank shall keep a record of the status of taxes, assessments, insurance premiums, and other charges on real property that secures the savings ...
• Texas Finance Code Section 94.201 - Required Investments
  A savings bank shall maintain in the savings bank's portfolio not less than 15 percent of the savings bank's deposits from its local service area ...
• Texas Finance Code Section 94.202 - Designation Of Local Service Area
  (a) The commissioner shall designate a savings bank's local service area at the time of application for incorporation as or conversion to a savings bank. ...
• Texas Finance Code Section 94.203 - Rules
  The finance commission shall adopt rules to implement this subchapter, including rules that define the categories of loans and investments described by Section 94.201. Acts ...
• Texas Finance Code Section 94.204 - Waivers
  The commissioner, in accordance with rules adopted under Section 94.203, may grant a limited-term waiver from the requirements of Section 94.201 if quality loans in ...
• Texas Finance Code Section 94.251 - Limitations On Investment In Equity Securities
  (a) A savings bank or a subsidiary may not invest in an equity security unless the security qualifies as an investment grade security under rules ...
• Texas Finance Code Section 94.252 - Inapplicability Of Limitations
  The limitations under Section 94.251 do not apply to an equity security issued by: (1) a United States government-sponsored corporation, including the Federal National Mortgage ...
• Texas Finance Code Section 94.253 - Rules
  The finance commission may adopt rules necessary to implement this subchapter, including rules relating to eligible investment criteria, investment diversification, and resource management requirements. Acts ...
• Texas Finance Code Section 94.301 - Authorization
  With the prior consent of the commissioner and subject to rules adopted by the finance commission, a savings bank may invest in a subsidiary corporation ...
• Texas Finance Code Section 94.302 - Limitation On Investment In Subsidiaries
  (a) A savings bank may not invest in a subsidiary corporation if the investment would cause the savings bank's aggregate investments in subsidiaries to exceed ...
• Texas Finance Code Section 94.303 - Regulation And Examination Of Subsidiary
  (a) The commissioner may regulate and examine a subsidiary corporation in which a savings bank invests under Section 94.301. (b) The subsidiary corporation shall pay ...
• Texas Finance Code Section 94.304 - Rules
  The finance commission shall adopt rules on permitted activities of a subsidiary corporation in which a savings bank invests under Section 94.301. Acts 1997, 75th ...
• Texas Finance Code Section 94.351 - Investment In Banking Premises
  Without prior approval of the commissioner, a savings bank may invest not more than an amount equal to the savings bank's regulatory capital in real ...
• Texas Finance Code Section 94.352 - Form Of Savings Bank Facility
  The finance commission by rule adopted under Section 93.002 may approve a new form of savings bank facility or authorize the commissioner to approve a ...
• Texas Finance Code Section 94.353 - Record Of Charges On Real And Personal Property
  A savings bank shall keep a record of the status of taxes, assessments, insurance premiums, and other charges on all real and personal property owned ...
• Texas Finance Code Section 95.001 - Deposits
  (a) A savings bank may receive a deposit of money. (b) Money deposited in a savings bank may be withdrawn or paid on a check ...
• Texas Finance Code Section 95.002 - Limitations On Accounts
  The board may limit the number and value of deposit accounts the savings bank may accept. Acts 1997, 75th Leg., ch. 1008, § 1, eff. ...
• Texas Finance Code Section 95.003 - Investment In Accounts
  (a) Any person may be the holder of a deposit account. (b) An investment in a deposit account may be made only in cash. (c) ...
• Texas Finance Code Section 95.004 - Deposit Contract
  (a) Each holder of a deposit account must execute a deposit contract. The contract must specify: (1) any special terms applicable to the account; and ...
• Texas Finance Code Section 95.005 - Account Ownership
  Unless a savings bank acknowledges in writing a pledge of a deposit account, the savings bank may treat the holder of record of the account ...
• Texas Finance Code Section 95.006 - Transfer Of Account
  (a) A deposit account may be transferred on the books of the savings bank only on presentation to the savings bank of: (1) evidence of ...
• Texas Finance Code Section 95.007 - Interest Or Dividends Paid On Accounts
  (a) A savings bank may contract to pay interest on deposit accounts or may pay earnings on deposit accounts in the form of dividends declared ...
• Texas Finance Code Section 95.008 - Redemption Of Deposit Account
  (a) If no contractual prohibition exists, a savings bank may redeem in the manner the board determines all or part of its deposit accounts if ...
• Texas Finance Code Section 95.009 - Lien On Deposit Account
  (a) Without further agreement or pledge, a savings bank or a federal savings bank doing business in this state has a lien on all deposit ...
• Texas Finance Code Section 95.010 - Account As Legal Investment
  (a) Each of the following persons may invest money held by the person in a deposit account of a savings bank doing business in this ...
• Texas Finance Code Section 95.011 - Applicability Of Probate Code
  The applicable provisions of Chapter XI, Texas Probate Code, govern deposit accounts held in a savings bank. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 95.101 - Account Held By Minor
  (a) A savings bank or a federal savings bank may accept a deposit account from a minor as the sole and absolute owner of the ...
• Texas Finance Code Section 95.102 - Pledge Of Joint Account
  (a) Unless the terms of the account provide otherwise, a person on whose signature money may be withdrawn from a deposit account in the names ...
• Texas Finance Code Section 95.103 - Account Held By Fiduciary
  (a) A savings bank or federal savings bank doing business in this state may accept a deposit account in the name of a fiduciary, including ...
• Texas Finance Code Section 95.104 - Trust Account: Undisclosed Trust Instrument
  (a) If a savings bank opens a deposit account for a person claiming to be the trustee for another and the savings bank has no ...
• Texas Finance Code Section 95.105 - Power Of Attorney Account
  (a) A savings bank doing business in this state may continue to recognize the authority of an attorney-in-fact authorized in writing to manage or withdraw ...
• Texas Finance Code Section 96.001 - General Duties
  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., ...
• Texas Finance Code Section 96.002 - Adoption Of Rules
  (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 ...
• Texas Finance Code Section 96.051 - Annual Audit
  (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 ...
• Texas Finance Code Section 96.053 - Reports
  (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 ...
• Texas Finance Code Section 96.054 - Examinations
  (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 ...
• Texas Finance Code Section 96.055 - Additional Examinations
  (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 ...
• Texas Finance Code Section 96.056 - Access To Books And Records
  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 ...
• Texas Finance Code Section 96.057 - Subpoena; Administration Of Oath Or Affirmation
  (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; ...
• Texas Finance Code Section 96.101 - Intervention For Violations And Unsafe And Unsound Practices
  (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 ...
• Texas Finance Code Section 96.102 - Intervention For Filing Inappropriate Information
  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 ...
• Texas Finance Code Section 96.103 - Intervention For Activity Resulting In Actual Or Potential Financial Loss
  (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 ...
• Texas Finance Code Section 96.104 - Intervention Relating To Examination Of Affairs
  (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 ...
• Texas Finance Code Section 96.105 - Temporary Supervisory Order
  (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 ...
• Texas Finance Code Section 96.106 - Service Of Temporary Supervisory Order
  (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 ...
• Texas Finance Code Section 96.107 - Hearing On Temporary Supervisory Order; Final Order
  (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 ...
• Texas Finance Code Section 96.108 - Plan Of Operation Of Savings Bank After Order Of Temporary Conservatorship
  (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 ...
• Texas Finance Code Section 96.109 - Enforcement Of Supervisory Order
  (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, ...
• Texas Finance Code Section 96.110 - Stay Of Supervisory 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 ...
• Texas Finance Code Section 96.111 - Disclosure Of Information In Supervisory Order; Confidentiality
  (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 ...
• Texas Finance Code Section 96.151 - Placement Of Savings Bank Under Conservatorship
  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 ...
• Texas Finance Code Section 96.152 - Duties Of Conservator
  (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 ...
• Texas Finance Code Section 96.153 - Term Of Conservator
  The conservator shall serve until the purposes of the conservatorship are accomplished. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 96.154 - Transfer Of Management Of Rehabilitated Savings Bank
  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 ...
• Texas Finance Code Section 96.155 - Scope Of Authority Of Other Persons During Conservatorship
  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 ...
• Texas Finance Code Section 96.156 - Limiting Order During Conservatorship
  (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 ...
• Texas Finance Code Section 96.157 - Service Of Limiting Order
  (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 ...
• Texas Finance Code Section 96.158 - Effect Of Limiting Order
  (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) ...
• Texas Finance Code Section 96.159 - Hearing On Limiting Order; Final Order
  (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 ...
• Texas Finance Code Section 96.160 - Stay Of Limiting Order
  (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 ...
• Texas Finance Code Section 96.161 - Cost Of Conservatorship
  (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 ...
• Texas Finance Code Section 96.162 - Venue
  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, ...
• Texas Finance Code Section 96.201 - Placement Of Savings Bank Under Voluntary Supervisory Control
  (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 ...
• Texas Finance Code Section 96.202 - Powers Of Supervisors
  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 ...
• Texas Finance Code Section 96.203 - Cost Of Supervisory Control
  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 ...
• Texas Finance Code Section 96.251 - Closing Of Savings Bank By Board Resolution
  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 ...
• Texas Finance Code Section 96.252 - Closing Of Savings Bank By Commissioner's Order
  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 ...
• Texas Finance Code Section 96.253 - Effect Of Closing
  (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 ...
• Texas Finance Code Section 96.254 - Hearing On Commissioner's Order
  (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 ...
• Texas Finance Code Section 96.301 - Liquidation Of Savings Bank
  (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 ...
• Texas Finance Code Section 96.302 - Removal Or Replacement Of Liquidating Agent
  (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 ...
• Texas Finance Code Section 96.303 - Duties Of Liquidating Agent
  (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; ...
• Texas Finance Code Section 96.304 - Notice
  (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 ...
• Texas Finance Code Section 96.305 - Presentation Of Claim
  (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 ...
• Texas Finance Code Section 96.306 - Priority Of Claims
  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 ...
• Texas Finance Code Section 96.307 - Action On Claim
  (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 ...
• Texas Finance Code Section 96.308 - Hearing On Claim; Appeal Of Adverse Determination Of Claim
  (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 ...
• Texas Finance Code Section 96.309 - Payment Of Final Dividend
  (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 ...
• Texas Finance Code Section 96.310 - Deposit Of Money By Liquidating Agent
  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 ...
• Texas Finance Code Section 96.311 - Payment Of Nonclaiming Deposit Account Holders And Creditors
  (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 ...
• Texas Finance Code Section 96.312 - Cost Of Liquidation
  (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 ...
• Texas Finance Code Section 96.313 - Final Report
  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 ...
• Texas Finance Code Section 96.314 - Continued Existence Of Savings Bank Following Liquidation
  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 ...
• Texas Finance Code Section 96.315 - Special Liquidating Agent
  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 ...
• Texas Finance Code Section 96.316 - Closing Of Liquidation; Order And Liability
  (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 ...
• Texas Finance Code Section 96.317 - Administrative Procedure
  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, ...
• Texas Finance Code Section 96.351 - Disclosure By Department Prohibited
  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 ...
• Texas Finance Code Section 96.352 - Disclosure To Other Agencies
  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 ...
• Texas Finance Code Section 96.353 - Other Disclosure Prohibited
  (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 ...
• Texas Finance Code Section 96.354 - Civil Discovery
  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. ...
• Texas Finance Code Section 96.355 - Investigative Information
  (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 ...
• Texas Finance Code Section 96.356 - Examination Report
  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. ...
• Texas Finance Code Section 96.357 - Removal For Violation
  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 ...
• Texas Finance Code Section 96.401 - Derivative Suit
  (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 ...
• Texas Finance Code Section 96.402 - Payment Of Insured Deposit Liabilities By Fdic
  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 ...
• Texas Finance Code Section 96.403 - Enforceability Of Loan Promise Or Agreement Made By Savings Bank Before Conservatorship Or Supervisory Control
  If a promise or agreement to lend money is not otherwise unenforceable under Chapter 26, Business & Commerce Code, and if the promise or agreement ...
• Texas Finance Code Section 96.404 - Interest In Savings Bank Prohibited For Department
  (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, ...
• Texas Finance Code Section 96.405 - Permitted Transactions For Department Relating To Savings Bank
  (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 ...
• Texas Finance Code Section 97.001 - Rules
  (a) The finance commission shall adopt rules: (1) providing for the registration of and reporting by holding companies; (2) setting limitations on the activities and ...
• Texas Finance Code Section 97.002 - Registration
  (a) A holding company shall register with the commissioner, on a form prescribed by the commissioner, not later than the 90th day after the date ...
• Texas Finance Code Section 97.003 - Release From Registration
  The commissioner, on the commissioner's own motion or on application, may release a registered holding company from the registration if the commissioner determines that the ...
• Texas Finance Code Section 97.004 - Reports
  (a) Each holding company and each subsidiary of a holding company, other than a savings bank, shall file with the commissioner reports required by the ...
• Texas Finance Code Section 97.005 - Books And Records
  Each holding company shall maintain books and records as required by the commissioner. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 97.006 - Examinations
  (a) The commissioner may require an examination of a holding company and each subsidiary of a holding company. (b) The holding company shall pay the ...
• Texas Finance Code Section 97.007 - Agent For Service Of Process
  The commissioner may require a holding company or a person, other than a corporation, connected with a holding company to execute and file an irrevocable ...
• Texas Finance Code Section 97.051 - Reorganization To Become Mutual Holding Company
  (a) Notwithstanding any other law, a savings bank may be reorganized as a mutual holding company by submitting to the commissioner an application for approval ...
• Texas Finance Code Section 97.052 - Application For Approval Of Reorganization
  The application for approval of reorganization must contain: (1) a brief statement summarizing a reorganization plan; (2) two copies of the proposed articles of incorporation ...
• Texas Finance Code Section 97.053 - Plan Of Reorganization
  (a) The plan of reorganization must provide that: (1) a subsidiary savings bank shall: (A) be incorporated under Subchapter B, Chapter 92; or (B) on ...
• Texas Finance Code Section 98.001 - Limitation On Right To Do Business As Savings Bank
  (a) A person may not do business as a savings bank in this state or maintain an office in this state for the purpose of ...
• Texas Finance Code Section 98.002 - Application Of Law And Rules
  This subtitle and each rule adopted under this subtitle apply to the operations in this state of a foreign savings bank and may be enforced ...
• Texas Finance Code Section 98.003 - Contracts Construed Under Law Of This State
  A contract between a foreign savings bank and a resident of this state is governed by the laws of this state. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 98.004 - Federal Savings Bank
  A federal savings bank is not a foreign corporation or foreign savings bank for purposes of this subtitle. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 98.005 - Authorization To Retain Offices
  A federal savings bank that has been merged, consolidated, or converted into a domestic or foreign savings bank or association is entitled to retain any ...
• Texas Finance Code Section 98.101 - Powers Of Foreign Savings Bank; Eligibility Of Accounts For Investment
  (a) A foreign savings bank operating under a certificate of authority issued under Subchapter I, Chapter 92, has the rights and privileges of a savings ...
• Texas Finance Code Section 98.201 - Renewal Of Certificate
  A foreign savings bank may renew a certificate of authority issued under Subchapter I, Chapter 92, by paying a renewal fee in January of each ...
• Texas Finance Code Section 98.202 - Revocation Of Certificate
  (a) The commissioner may revoke a foreign savings bank's certificate of authority on the failure or refusal of the savings bank to comply with a ...
• Texas Finance Code Section 98.301 - Frequency Of Examination
  A foreign savings bank holding a certificate of authority issued under Subchapter I, Chapter 92, may be examined not more than once each year. Acts ...
• Texas Finance Code Section 98.302 - Examination Charges
  A foreign savings bank holding a certificate of authority issued under Subchapter I, Chapter 92, shall pay: (1) an examination fee in the amount set ...
• Texas Finance Code Section 98.303 - Agreement With Regulatory Authority Of Other State
  (a) The commissioner, in exercising the supervisory and regulatory authority granted under Chapter 96, may enter into a cooperative agreement with a regulatory authority of ...
• Texas Finance Code Section 98.304 - Commissioner's Authority To Issue Orders
  The commissioner may issue an order against a foreign savings bank holding a certificate of authority in the same manner provided by Chapter 96 for ...
• Texas Finance Code Section 119.001 - Applicability Of Chapter 4, Business & Commerce Code
  Chapter 4, Business & Commerce Code, applies to a savings bank with respect to an item paid, collected, settled, negotiated, or otherwise handled by the ...
• Texas Finance Code Section 119.002 - Applicability Of Savings And Loan Laws To Savings Banks
  (a) Except as provided by Subsection (b), a statute of this state or a rule adopted under the statute that applies to or exempts a ...
• Texas Finance Code Section 119.003 - Acknowledgment Or Proof Taken By Member, Stockholder, Or Employee Of Savings Bank
  A public officer who is qualified to take an acknowledgment or proof of a written instrument and who is a member or employee of, or ...
• Texas Finance Code Section 119.004 - Rendition Of Certain Personal Property For Ad Valorem Taxation
  (a) Each domestic savings bank and each federal savings bank shall render for ad valorem taxation all of its personal property, other than furniture, fixtures, ...
• Texas Finance Code Section 119.005 - State Taxation Of Savings Banks
  The state shall tax a domestic or federal savings bank doing business in this state in the same manner and to the same extent as ...
• Texas Finance Code Section 119.006 - Initiation Of Rulemaking By Savings Banks
  The finance commission shall initiate rulemaking proceedings under Chapter 2001, Government Code, if at least 20 percent of the savings banks petition the finance commission ...
• Texas Finance Code Section 119.007 - Exemption From Securities Laws
  A deposit account, certificate, or other evidence of an interest in the deposit liability of a savings bank or federal savings bank is not considered ...
• Texas Finance Code Section 119.008 - Liability Of Commissioner And Other Commission Personnel; Defense By Attorney General
  (a) The commissioner, a member of the finance commission, a deputy commissioner, an examiner, or any other officer or employee of the Savings and Loan ...
• Texas Finance Code Section 119.101 - Access To Books And Records Of Savings Bank
  (a) The books and records of a savings bank may be examined only by: (1) the commissioner or the commissioner's representative in accordance with Sections ...
• Texas Finance Code Section 119.102 - Production And Admissibility Of Items Of Savings Bank In Judicial Proceeding
  (a) In a judicial proceeding, the court may order the production of books, records, and files of a savings bank. (b) The books, records, and ...
• Texas Finance Code Section 119.201 - Administrative Penalty For Failing To Comply With Subtitle
  (a) The commissioner may require a savings bank that knowingly violates this subtitle or a rule adopted under this subtitle to pay to the department ...
• Texas Finance Code Section 121.001 - Short Title
  This subtitle may be cited as the Texas Credit Union Act. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 121.0011 - Policy
  The purposes of this subtitle are to safeguard the public interest, to promote public confidence in credit unions doing business in this state, to provide ...
• Texas Finance Code Section 121.002 - Definitions
  In this subtitle: (1) "Board" means the board of directors of a credit union. (2) "Credit union," unless the context relates to a federal credit ...
• Texas Finance Code Section 121.003 - Credit Unions Subject To Subtitle
  A credit union organized and existing under the laws of this state is governed by and authorized to do business under this subtitle. Acts 1997, ...
• Texas Finance Code Section 121.004 - Liberal Construction
  This subtitle shall be liberally construed to effect its purposes. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 121.005 - Hearings
  (a) A hearing held under this subtitle is governed by Chapter 2001, Government Code. (b) The commission may adopt rules of procedure for a hearing ...
• Texas Finance Code Section 121.006 - Procedure And Rules Applicable To Certain Proceedings
  (a) If the commissioner proposes to revoke a credit union's certificate of incorporation, the credit union is entitled to a hearing conducted by the State ...
• Texas Finance Code Section 122.001 - Application To Incorporate
  (a) Seven or more individuals may apply to incorporate a credit union under this chapter if: (1) each is at least 18 years old; (2) ...
• Texas Finance Code Section 122.002 - Standard Articles Of Incorporation And Bylaws
  (a) To simplify the process of organizing new credit unions, the commission shall prepare standard articles of incorporation and bylaws. (b) The standard forms shall ...
• Texas Finance Code Section 122.003 - Corporate Name; Criminal Penalty
  (a) The name of a credit union must include the words "credit union" or the abbreviation "CU" and an appropriate descriptive word or words, or ...
• Texas Finance Code Section 122.004 - Investigation By Commissioner
  The commissioner may conduct an investigation and obtain any information or report from any person, including a law enforcement agency, that the commissioner considers necessary. ...
• Texas Finance Code Section 122.005 - Procedure For Certain Approvals
  (a) This section applies to a request for approval by the commissioner of: (1) an application for incorporation under this subchapter; (2) a request for ...
• Texas Finance Code Section 122.006 - Decision On Application To Incorporate; Issuance Of Certificate
  (a) The commissioner shall approve an application to incorporate a credit union if the commissioner determines: (1) that the incorporators have complied with this chapter ...
• Texas Finance Code Section 122.007 - Appeal To Commission
  (a) The commission by rule shall provide for appeal of the commissioner's order by an incorporator or other aggrieved person. (b) The commissioner's order may ...
• Texas Finance Code Section 122.008 - Effect Of Issuance Of Certificate Of Incorporation
  (a) A credit union's existence begins when the commissioner issues the certificate of incorporation. (b) The certificate of incorporation is conclusive evidence that the incorporators ...
• Texas Finance Code Section 122.009 - Requirements For Commencing Business
  (a) A credit union may not transact business or incur debt that is not incidental to its organization or to obtaining a subscription to or ...
• Texas Finance Code Section 122.010 - Deadline For Commencing Business
  (a) A credit union shall begin business before six months after the date of the order approving the credit union's application. (b) On request and ...
• Texas Finance Code Section 122.011 - Amendment Of Articles Of Incorporation Or Bylaws
  (a) The board may amend the articles of incorporation or bylaws by a two-thirds vote of the directors present at a meeting at which a ...
• Texas Finance Code Section 122.012 - Place Of Business
  (a) A credit union shall maintain on file with the department a statement specifying the street and post office address of the credit union's principal ...
• Texas Finance Code Section 122.013 - Foreign Credit Unions
  (a) A foreign credit union may do business in this state if it is organized in a state or country that allows a credit union ...
• Texas Finance Code Section 122.014 - Underserved-Area Credit Union
  (a) In this section, "secondary capital account" means a nontransactional account in an amount greater than $100,000 as established by the commission that is: (1) ...
• Texas Finance Code Section 122.051 - Membership
  (a) A person may be a member of a credit union only if the person is an incorporator or other person who: (1) shares a ...
• Texas Finance Code Section 122.052 - Meetings Of Members; Voting
  (a) Members of a credit union shall hold an annual or special meeting at the time and place and in the manner provided by the ...
• Texas Finance Code Section 122.053 - Board Of Directors; Terms And Duties
  (a) A board of at least five members shall direct the business and affairs of a credit union. (b) The membership of the credit union ...
• Texas Finance Code Section 122.054 - Qualification Of Directors
  (a) The commission by rule shall establish qualifications for a director. The rules must provide that a person may not serve as director if the ...
• Texas Finance Code Section 122.055 - Vacancies; Removal
  (a) The office of a director becomes vacant if the director dies, resigns, is removed, has been absent from more meetings than the total number ...
• Texas Finance Code Section 122.056 - Honorary Or Advisory Directors
  (a) The board may appoint not more than three individuals to serve at the board's pleasure as honorary or advisory directors to advise and consult ...
• Texas Finance Code Section 122.057 - Officers; Executive Committee
  (a) At the annual organizational meeting, the board shall elect from its membership a chairman, vice chairman, treasurer, and secretary. The offices of treasurer and ...
• Texas Finance Code Section 122.058 - Chief Executive Officer
  (a) The board may employ, elect, or appoint a president, who is the chief executive officer in charge of operations. (b) The president may be ...
• Texas Finance Code Section 122.059 - Delegation Of Management And Loan Approval Authority
  (a) Without written approval of the commissioner, a credit union may not: (1) contract with an individual who is not an officer, director, or employee ...
• Texas Finance Code Section 122.060 - Certificate Of Election
  (a) The board chairman and the secretary: (1) shall execute a certificate of election that states the name and address of each officer, director, and ...
• Texas Finance Code Section 122.061 - Conflicts Of Interest
  (a) While serving as a director, honorary director, advisory director, committee member, officer, or employee of a credit union, a person may not: (1) participate, ...
• Texas Finance Code Section 122.062 - Compensation
  A person may not receive compensation for serving as a director, honorary director, advisory director, or committee member of a credit union, except that the ...
• Texas Finance Code Section 122.063 - Bond
  The board shall purchase from a surety company authorized to do business in this state a blanket surety or security bond covering each director, honorary ...
• Texas Finance Code Section 122.064 - Indemnification
  A credit union may elect to indemnify a director, officer, employee, or agent of the credit union or another person and to purchase insurance: (1) ...
• Texas Finance Code Section 122.101 - Call Reports
  (a) A credit union shall submit to the department on a quarterly basis a call report, on a form supplied by the department, that states ...
• Texas Finance Code Section 122.102 - Financial Reporting; Audits
  (a) A credit union shall use the financial reporting forms and observe the accounting principles prescribed by the commission. (b) The board shall: (1) make ...
• Texas Finance Code Section 122.103 - Equity Capital
  A credit union's equity capital consists of: (1) retained earnings; (2) appropriated retained earnings, including net worth and other reserves; (3) undivided earnings; and (4) ...
• Texas Finance Code Section 122.104 - Net Worth Reserve Allocations
  (a) The commission by rule shall require a credit union to contribute to and maintain net worth reserves necessary to protect the interests of its ...
• Texas Finance Code Section 122.105 - Membership Share Reduction
  A credit union may order a reduction in the membership shares of each of its shareholders if: (1) the credit union's losses resulting from a ...
• Texas Finance Code Section 122.106 - Exemption From Certain Taxes
  (a) Except as provided by Subsection (b), a credit union is exempt from a franchise or other license tax. (b) A credit union is not ...
• Texas Finance Code Section 122.151 - Authority To Merge Or Consolidate
  (a) A credit union may merge or consolidate with another credit union, under the other credit union's existing articles of incorporation or otherwise, if: (1) ...
• Texas Finance Code Section 122.152 - Application To Merge Or Consolidate
  (a) After agreement by the directors and approval by the members, if applicable, of each credit union or federal credit union, the chairman and secretary ...
• Texas Finance Code Section 122.153 - Decision By Commissioner; Appeal
  (a) Subject to Subsection (b), on approving the merger or consolidation, the commissioner shall return the certificates and plan to the merging or consolidating credit ...
• Texas Finance Code Section 122.1531 - Considerations In Determination
  In determining whether to approve or disapprove the merger or consolidation, the commissioner shall consider the availability and adequacy of financial services in the local ...
• Texas Finance Code Section 122.154 - Property, Obligations, And Liabilities Of Merged Or Consolidated Credit Union
  After a merger or consolidation is effected: (1) the property of the merged or consolidated credit union vests in the surviving credit union without an ...
• Texas Finance Code Section 122.155 - Construction Of Subchapter
  This subchapter shall be construed, when possible, to permit a credit union authorized to do business in this state under other law to merge or ...
• Texas Finance Code Section 122.156 - Rules To Address Certain Procedures
  The rules adopted under this subchapter must specify in detail the procedures that: (1) a credit union must follow to obtain commissioner approval of a ...
• Texas Finance Code Section 122.201 - Conversion Of State Credit Union To Federal Credit Union
  A credit union organized under the laws of this state may convert to a credit union under the laws of the United States: (1) on ...
• Texas Finance Code Section 122.202 - Conversion Of State Credit Union To Out-Of-State Credit Union
  A credit union organized under the laws of this state may convert to a credit union under the laws of another state: (1) on an ...
• Texas Finance Code Section 122.203 - Conversion Of Federal Or Out-Of-State Credit Union To State Credit Union
  A credit union organized under the laws of the United States or of another state may convert to a credit union organized under the laws ...
• Texas Finance Code Section 122.251 - Defamation
  (a) A person commits an offense if the person knowingly: (1) makes, circulates, or transmits to another person a false statement that is derogatory to ...
• Texas Finance Code Section 122.252 - Consideration For Loan, Investment, Or Purchase
  (a) A person commits an offense if the person: (1) is a director, honorary director, advisory director, committee member, officer, or employee of a credit ...
• Texas Finance Code Section 122.253 - Loan To Nonmember
  (a) A person commits an offense if the person: (1) is a director, honorary director, advisory director, committee member, officer, or employee of a credit ...
• Texas Finance Code Section 122.254 - False Statements Or Documents; Destruction Of Records
  (a) A person commits an offense if the person, knowingly and with the intent to deceive: (1) makes a false entry on a record, report, ...
• Texas Finance Code Section 122.255 - Determination Of Misconduct
  The commissioner may determine that an officer, director, honorary director, advisory director, or employee of a credit union, or the credit union itself, acting by ...
• Texas Finance Code Section 122.256 - Determination Letter; Board Meeting
  (a) If the commissioner determines from examination or other credible evidence that a credit union is in a condition that may warrant the issuance of ...
• Texas Finance Code Section 122.257 - Cease And Desist Order
  (a) If the commissioner makes a finding listed in Section 122.255 and determines that an order to cease and desist is necessary and in the ...
• Texas Finance Code Section 122.258 - Removal Order
  (a) The commissioner by order may remove or prohibit a person who is a current or former officer, director, manager, or employee of a credit ...
• Texas Finance Code Section 122.259 - Hearing On Appeal Of Proposed Order
  (a) If the credit union or a person removed from office or employment files a notice of appeal of a cease and desist order or ...
• Texas Finance Code Section 122.260 - Administrative Penalty; Injunction
  (a) If a credit union or other person designated in a final order under this subchapter does not comply with the order, the commissioner, after ...
• Texas Finance Code Section 122.261 - Confidentiality
  (a) A determination letter, a cease and desist order, a removal order, each copy of a notice or correspondence, and all other documents or records ...
• Texas Finance Code Section 123.001 - General Powers
  A credit union may exercise any power necessary or appropriate to accomplish the purposes for which it is organized and any power granted a corporation ...
• Texas Finance Code Section 123.002 - Incidental Powers
  A credit union may exercise any right, privilege, or incidental power necessary or appropriate to exercise its specific powers and to accomplish the purposes for ...
• Texas Finance Code Section 123.003 - Enlargement Of Powers
  (a) A credit union may engage in any activity in which it could engage, exercise any power it could exercise, or make any loan or ...
• Texas Finance Code Section 123.101 - Contracts
  A credit union may make contracts. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 123.102 - Power To Sue And Defend
  A credit union may sue or be sued in the name of the credit union. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. ...
• Texas Finance Code Section 123.103 - Purchase And Sale Of Property
  Subject to commission rules, a credit union may purchase, hold, lease, or dispose of property necessary or incidental to the operation or purpose of the ...
• Texas Finance Code Section 123.104 - Membership In Other Organization; Operation As Central Credit Union
  A credit union may: (1) be a member of: (A) another credit union organized under this subtitle or other law; and (B) another organization approved ...
• Texas Finance Code Section 123.105 - Fees
  (a) A credit union may collect a fee, determined by the board, for services and administrative costs, including a fee for a check or draft ...
• Texas Finance Code Section 123.106 - Change Of Location
  A credit union may change its principal place of business or a subsidiary place of business to another location by notifying the commissioner in writing ...
• Texas Finance Code Section 123.107 - Insurance For Members
  A credit union may purchase or otherwise provide insurance for the benefit or convenience of its members in accordance with applicable law or rules adopted ...
• Texas Finance Code Section 123.108 - Donations
  A credit union may donate to a nonprofit, civic, charitable, or community organization as authorized by the board. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 123.109 - Seal
  A credit union may adopt and use a common seal and may alter its seal at any time. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 123.110 - Records
  (a) A credit union may: (1) copy any record kept by the credit union; and (2) dispose of the original record in accordance with commission ...
• Texas Finance Code Section 123.111 - Right To Act To Mitigate Or Avoid Loss
  This subtitle does not prohibit a credit union from investing its money, operating a business, managing or dealing in property, or taking any other action ...
• Texas Finance Code Section 123.201 - Power To Borrow Or Lend
  (a) A credit union may: (1) lend its funds, or engage in any other type of financing transaction authorized by applicable law or rules adopted ...
• Texas Finance Code Section 123.202 - Receipt, Transfer, And Payment Of Money
  A credit union may: (1) receive and disburse money; (2) receive a payment on a share or deposit; and (3) provide for the transfer or ...
• Texas Finance Code Section 123.203 - Acceptance Of Money For Deposit From Another Entity
  A credit union may accept money for deposit by a savings and loan association, a savings association, the savings department of a bank, a commercial ...
• Texas Finance Code Section 123.204 - Action As Agent Or Depository Of United States Or Other Governmental Entity
  A credit union may act as agent or depository of and accept for deposit the money of: (1) the United States or an agent or ...
• Texas Finance Code Section 123.205 - Investments And Securities
  (a) In accordance with commission rules, a credit union may: (1) develop and offer investment programs to its members and depositors; or (2) act as ...
• Texas Finance Code Section 123.206 - Action As Fiscal Or Transfer Agent; Transfer Of Certain Instruments; Signatures
  A credit union may: (1) act as fiscal agent or transfer agent; (2) transfer a registered and countersigned certificate of stock, bond, or other evidence ...
• Texas Finance Code Section 123.207 - Fiduciary Powers
  A credit union may: (1) act, under court order or appointment, as guardian, receiver, trustee, executor, or administrator without giving bond; (2) receive an investment ...
• Texas Finance Code Section 123.208 - Dividends And Interest
  (a) A credit union may: (1) declare and pay a dividend on a share; (2) contract for and pay interest on a deposit; or (3) ...
• Texas Finance Code Section 123.209 - Transfer System
  A credit union may establish, operate, or participate in a system that allows the transfer of credit union money or the shares or deposits of ...
• Texas Finance Code Section 123.210 - Sale Of Certain Instruments Or Securities; Fee
  A credit union may: (1) collect, receive, and disburse money: (A) in connection with the sale of a traveler's check, money order, cashier's check or ...
• Texas Finance Code Section 123.211 - Certificates Of Indebtedness
  The commission by rule may authorize a credit union to issue certificates of indebtedness that are subordinated to all other claims of credit union creditors. ...
• Texas Finance Code Section 123.212 - Check And Money Transfer Services
  A credit union may sell to a person within its field of membership negotiable checks, money orders, and other similar money transfer instruments or services ...
• Texas Finance Code Section 124.001 - Authorization
  A credit union may make a loan to a member: (1) in accordance with rules adopted by the commission; (2) for a purpose the credit ...
• Texas Finance Code Section 124.002 - Limitations On Interest Rates
  The interest rate on a loan to a member may not exceed: (1) 1-1/2 percent per month on the unpaid balance; or (2) a higher ...
• Texas Finance Code Section 124.003 - Limitations On Loans
  A credit union may not make a loan to a member or a business interest of the member if the loan would cause the aggregate ...
• Texas Finance Code Section 124.004 - Written Instrument Required
  A credit union loan must be evidenced by a written instrument. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 124.005 - Applicability Of Other Law
  Subtitle B, Title 4, does not apply to a credit union loan or extension of credit unless the agreement that evidences the transaction specifically provides ...
• Texas Finance Code Section 124.051 - Open-End Credit Plan
  A credit union may enter into a written agreement with a member under which: (1) the member is allowed to borrow money from time to ...
• Texas Finance Code Section 124.052 - Line Of Credit
  A credit union may approve in advance a line of credit and grant advances to a member within the limit of the extension of credit. ...
• Texas Finance Code Section 124.053 - Additional Loan Application Not Required
  An additional loan application is not required under an open-end credit plan under Section 124.051 or line of credit under Section 124.052 if the aggregate ...
• Texas Finance Code Section 124.101 - Borrower Payment Of Loan Expenses
  A credit union may require a member to pay all reasonable expenses and fees incurred in connection with making, closing, disbursing, extending, readjusting, or renewing ...
• Texas Finance Code Section 124.102 - Collection Of Loan Expenses
  A payment authorized by Section 124.101 may be: (1) collected by the credit union and: (A) retained by the credit union; or (B) paid to ...
• Texas Finance Code Section 124.103 - Character Of Expense Or Fee
  An expense or fee authorized by Section 124.101 is not interest. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 124.151 - Prepayment Privilege
  A loan may be prepaid in whole or in part, without penalty, during regular working hours on any day on which the credit union is ...
• Texas Finance Code Section 124.152 - Conditions For Prepayment Of Loan Secured By Real Property
  A credit union may require a partial prepayment that is made on a loan secured by a lien or mortgage on or other type of ...
• Texas Finance Code Section 124.153 - Penalty For Late Payment
  (a) A credit union, in accordance with its bylaws, may charge a member a penalty when a loan payment is past due. (b) A credit ...
• Texas Finance Code Section 124.201 - Authorization
  Only if done in accordance with limitations imposed by Section 124.202, a credit union may make a loan or extend a line of credit to: ...
• Texas Finance Code Section 124.202 - Conditions Of Loans
  A loan or extension of a line of credit under Section 124.201: (1) must comply with this subtitle and rules adopted under this subtitle with ...
• Texas Finance Code Section 124.203 - Authorization To Act As Comaker, Guarantor, Or Endorser
  A credit union may permit a director, senior management employee, or member of the credit committee to act as comaker, guarantor, or endorser of a ...
• Texas Finance Code Section 124.204 - Prior Approval Required
  The board must give its approval before the credit union permits a director, senior management employee, or member of the credit committee to act as ...
• Texas Finance Code Section 124.251 - Illegality Of Loan Not A Defense
  The illegality of a loan is not a defense in a credit union's action to recover on the loan. Acts 1997, 75th Leg., ch. 1008, ...
• Texas Finance Code Section 124.252 - Illegality Of Loan Not A Bar To Enforcement Or Collection
  The illegality of a loan does not prevent enforcement of the loan agreement against or collection of the loan from a person who is otherwise ...
• Texas Finance Code Section 124.301 - Participation Loans
  A credit union may market and sell participations in loans to members originated by the credit union to another credit union, corporation, or financial organization. ...
• Texas Finance Code Section 124.302 - Government Loan Programs
  A credit union may participate in: (1) a guaranteed loan program of the United States government or a state government; and (2) another government loan ...
• Texas Finance Code Section 124.351 - Permitted Investments
  (a) A credit union may invest money not used in loans to members in: (1) capital shares, obligations, participation certificates, or common or preferred stock ...
• Texas Finance Code Section 124.352 - Limitations On Investments
  (a) An investment under Section 124.351(a)(1) may be made only if: (1) the membership or ownership of the agency, association, or company is restricted to ...
• Texas Finance Code Section 125.001 - Definition
  In this chapter, "multiple-party account" has the meaning assigned by Section 436, Texas Probate Code, except that the term includes an account in which one ...
• Texas Finance Code Section 125.002 - Share Account
  (a) Shares and membership shares shall be subscribed to and paid for in the manner prescribed by the bylaws. A credit union may limit the ...
• Texas Finance Code Section 125.003 - Deposit Accounts
  A deposit account consists of payments made under an agreement between the credit union and a depositor, including a draft account, checking account, savings account, ...
• Texas Finance Code Section 125.004 - Construction With Other Laws
  This chapter may not be construed to conflict with the laws of the United States or the laws of this state governing the taxation of ...
• Texas Finance Code Section 125.101 - Form Of Account
  (a) A member of a credit union or of a federal credit union doing business in this state may designate one or more persons to ...
• Texas Finance Code Section 125.102 - Powers Of Account Holders
  (a) A party to a multiple-party account may make a payment on a share or deposit account and a withdrawal subject to the account agreement. ...
• Texas Finance Code Section 125.103 - Powers Of Members Relating To Account
  Subject to a policy adopted by the board, a member of a credit union by written notice to the credit union may: (1) change or ...
• Texas Finance Code Section 125.104 - Ownership Interest
  (a) The parties to a multiple-party account are presumed to own the account in equal undivided interests unless: (1) the account agreement provides otherwise; or ...
• Texas Finance Code Section 125.105 - Discharge Of Liability On Payment
  Payment of all or part of a multiple-party account to a party to the account discharges the credit union's liability to each party to the ...
• Texas Finance Code Section 125.106 - Division Of Account On Death
  (a) Unless otherwise provided by the account agreement or a trust agreement, the only effect the death of a party to a multiple-party account has ...
• Texas Finance Code Section 125.107 - Setoff Of Account
  Without qualifying another statutory right to a setoff or lien and subject to a contractual provision accepted by the credit union, a credit union has ...
• Texas Finance Code Section 125.201 - Powers Of Credit Union Relating To Account
  A credit union may: (1) open a share or deposit account in the name of a minor; (2) receive a payment on the account by ...
• Texas Finance Code Section 125.202 - Voting; Office-Holding
  (a) If permitted by the credit union's bylaws, a minor: (1) may vote in a meeting of the credit union's members; and (2) is eligible ...
• Texas Finance Code Section 125.203 - Discharge Of Liability On Payment; Effect On Minor Of Required Action
  (a) A payment or delivery of rights made by a credit union or a federal credit union to any of the following persons in connection ...
• Texas Finance Code Section 125.301 - Form Of Account
  (a) A credit union may issue shares or receive a deposit: (1) in a revocable trust, if: (A) a settlor is a member of the ...
• Texas Finance Code Section 125.302 - Loans To Nonmember Trustee
  Subject to limitations imposed by this subtitle or a rule adopted under this subtitle, a credit union may make a fully secured loan to a ...
• Texas Finance Code Section 125.303 - Beneficiary Fees
  A beneficiary who is not a member of a credit union is not required to pay a membership entrance fee. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 125.304 - Limitations Placed On Beneficiary
  A beneficiary who is not a member of a credit union may not vote in matters pertaining to, obtain a loan through, or hold office ...
• Texas Finance Code Section 125.305 - Account Transaction Inquiries
  The credit union is not required to inquire of a trustee the reason for a transaction or the intended use for money withdrawn or borrowed. ...
• Texas Finance Code Section 125.306 - Discharge Of Liability On Payment
  Payment of all or part of the shares and deposits to a trustee or other person authorized to request present payment on a trust account ...
• Texas Finance Code Section 125.307 - Termination Of Account
  When a trust is terminated, the credit union shall pay money remaining in a trust account as: (1) directed by the trustee; (2) prescribed by ...
• Texas Finance Code Section 125.308 - Effect Of Death Of Trustee On Account
  (a) The death of a trustee does not affect the ownership or disposition of a trust account unless: (1) the trust agreement provides otherwise; or ...
• Texas Finance Code Section 125.309 - Trust Account With Limited Documentation
  (a) For a trust account that is purported to be opened under a written trust agreement, the trustee may provide the credit union with a ...
• Texas Finance Code Section 125.401 - Third-Party Claim
  (a) In this section: (1) "Credit union" includes: (A) a credit union organized under the laws of this state; (B) a foreign credit union; and ...
• Texas Finance Code Section 125.402 - Disclosure Of Records Of Member; Confidentiality
  (a) A credit union is not required to disclose or produce to a third party or permit a third party to examine a record pertaining ...
• Texas Finance Code Section 125.403 - Recovery Of Document Production Expenses From Third Party
  (a) A credit union or federal credit union doing business in this state is entitled to recover from a third party the reasonable cost actually ...
• Texas Finance Code Section 125.404 - Liens And Setoffs
  (a) To the extent of a member's direct or indirect indebtedness to a credit union, the credit union has: (1) a lien, enforceable with or ...
• Texas Finance Code Section 125.405 - Account Withdrawals
  (a) A credit union may require not longer than 60 days' notice for a withdrawal from a share or deposit account. (b) The commissioner may ...
• Texas Finance Code Section 125.501 - Rental Of Safe Deposit Box
  A credit union or federal credit union may maintain and rent safe deposit boxes. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 125.502 - Relationship Between Credit Union And Box Holder
  (a) In the absence of a contract to the contrary, the relationship between a credit union and the renter of a safe deposit box maintained ...
• Texas Finance Code Section 125.503 - Access By More Than One Person
  (a) In the absence of a contract to the contrary, a credit union shall allow each holder of a safe deposit box jointly held in ...
• Texas Finance Code Section 125.504 - Relocation Of Safe Deposit Box; Inventory Of Contents
  (a) Except as otherwise provided by this section, Sections 125.505 through 125.507, Sections 36B through 36F, Texas Probate Code, or other law, a credit union ...
• Texas Finance Code Section 125.505 - Notice Of Box Relocation
  (a) A credit union shall give a lessee of a safe deposit box at least 30 days' notice of the box's relocation. The notice must ...
• Texas Finance Code Section 125.506 - Cost Of Notice As Box Rental
  The credit union may treat the cost of certified mailings incurred in connection with each safe deposit box relocation other than the cost of the ...
• Texas Finance Code Section 125.507 - Emergency Relocation Of Safe Deposit Box
  (a) A credit union may relocate a safe deposit box or open the box to relocate its contents to another location if the security of ...
• Texas Finance Code Section 125.508 - Key Imprinting
  (a) A credit union that rents or permits access to a safe deposit box shall: (1) imprint all keys issued to the box after September ...
• Texas Finance Code Section 125.509 - Liability For Access To Or Removal Of Contents
  A credit union that has identified the keys to a safe deposit box in accordance with Section 125.508 and that follows applicable law and the ...
• Texas Finance Code Section 125.510 - Delinquent Rents
  (a) If the rental of a safe deposit box is delinquent for six months or longer, the credit union may open the box only if: ...
• Texas Finance Code Section 125.511 - Auction Of Contents
  (a) If the rental, cost, and damages determined under Section 125.510(d) are not paid before the second anniversary of the date on which the box ...
• Texas Finance Code Section 126.001 - Appointment Of Conservator Or Liquidating Agent
  The commissioner may appoint any person, including the share and deposit guaranty corporation or credit union provided for by Section 15.410, as a conservator or ...
• Texas Finance Code Section 126.002 - Confidentiality Of Information
  (a) Except as provided by Subsections (b) and (c), information obtained directly or indirectly by the department in any manner, including by application or examination, ...
• Texas Finance Code Section 126.003 - Enforceability Of Agreement Made By Credit Union Before Conservatorship Or Liquidation
  An agreement that tends to diminish or defeat the interest of the conservator or liquidating agent in an asset acquired under this chapter, either as ...
• Texas Finance Code Section 126.051 - Examinations
  (a) The department, through examiners it appoints and in accordance with commission rules, shall periodically examine the books and records of each credit union. (b) ...
• Texas Finance Code Section 126.052 - Access To Information
  An officer, director, agent, or employee of a credit union shall give an examiner free access to any information relating to the credit union's business, ...
• Texas Finance Code Section 126.053 - Witnesses; Production Of Documents
  (a) In an examination conducted under this subchapter, the commissioner or the commissioner's designee may: (1) subpoena witnesses; (2) administer an oath or affirmation to ...
• Texas Finance Code Section 126.054 - Report Of Examination
  (a) An examiner shall report the results of an examination, including a general statement of the credit union's affairs, on a form prescribed by the ...
• Texas Finance Code Section 126.055 - Fee
  The commission may establish and a credit union shall pay a fee based on the cost of performing an examination of the credit union. Acts ...
• Texas Finance Code Section 126.101 - Conservatorship Order; Appointment Of Conservator
  (a) The commissioner may immediately issue a conservatorship order and appoint a conservator to manage a credit union's affairs if: (1) the commissioner, in performing ...
• Texas Finance Code Section 126.102 - Service Of Order
  (a) A conservatorship order must be served personally to an officer or director of the credit union by the commissioner, the deputy commissioner, or another ...
• Texas Finance Code Section 126.103 - Effect Of Order
  Following service of a conservatorship order: (1) the commissioner shall take possession and control of the credit union's books, records, property, assets, and business; and ...
• Texas Finance Code Section 126.104 - Reply To Order
  Not later than the 30th day after the date on which a conservatorship order is served, the board shall file a written reply to the ...
• Texas Finance Code Section 126.105 - Appeal Of Order; Hearing
  (a) The board may file a written appeal of the conservatorship order with the commissioner. The appeal must include a certified copy of the board ...
• Texas Finance Code Section 126.106 - Failure To File Reply Or Request Hearing
  (a) If the board does not file a reply to the conservatorship order as required by Section 126.104 or fails to request and appear at ...
• Texas Finance Code Section 126.107 - Extension Of Date And Time For Hearing
  The parties may agree to extend the date and time of the hearing. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 126.108 - Confidentiality; Disclosure
  A conservatorship order and a copy of a notice, correspondence, transcript, pleading, or other document relating to the order are confidential and may be disclosed ...
• Texas Finance Code Section 126.151 - Conservator Subject To Commission Control
  A conservator shall exercise the powers authorized under Sections 126.152-126.154 subject to commission rules and under the commissioner's supervision. Acts 1997, 75th Leg., ch. 1008, ...
• Texas Finance Code Section 126.152 - General Powers Of Conservator
  The conservator may: (1) take possession and control of the books, records, property, assets, and business of the credit union; (2) conduct the business and ...
• Texas Finance Code Section 126.153 - Powers Relating To Claims
  The conservator may: (1) determine the existence and amount of claims; (2) allow proved claims of security, preference, or priority; (3) disallow unproved claims of ...
• Texas Finance Code Section 126.154 - Power To Repudiate Burdensome Transaction
  The conservator may repudiate a contract or unexpired lease the conservator considers burdensome to the credit union. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 126.155 - Power To Protect, Preserve, And Recover Property
  (a) The conservator may take measures necessary to preserve, protect, and recover the assets or property of the credit union, including filing a lawsuit against ...
• Texas Finance Code Section 126.156 - Duties Of Conservator
  The conservator shall: (1) take actions as directed by the commissioner to remove the causes and conditions that made the conservatorship necessary; and (2) report ...
• Texas Finance Code Section 126.157 - Term Of Conservator
  The conservator shall serve until the purposes of the conservatorship are accomplished. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 126.158 - Transfer Of Management Of Rehabilitated Credit Union
  If the credit union is rehabilitated, the conservator shall return the management of the credit union to the board under terms that are reasonable and ...
• Texas Finance Code Section 126.159 - Cost Of Conservatorship
  (a) The commissioner shall determine and approve any reasonable expenses attributable to the service of a conservator, including costs incurred by the department and the ...
• Texas Finance Code Section 126.160 - Jurisdiction And Venue
  (a) A suit filed against a credit union while the credit union is under conservatorship, or against a person in connection with an action taken ...
• Texas Finance Code Section 126.161 - Exhaustion Of Administrative Remedies
  Administrative remedies must be exhausted before a court may: (1) assert jurisdiction over a claim against the conservator or the credit union; or (2) restrain ...
• Texas Finance Code Section 126.201 - Liquidation Order; Appointment Of Liquidating Agent
  After the commissioner has issued a conservatorship order and provided an opportunity for hearing, the commissioner by liquidation order may appoint a liquidating agent and ...
• Texas Finance Code Section 126.202 - Service Of Order
  The commissioner shall serve a liquidation order in the same manner provided for service of a conservatorship order. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 126.203 - Suit For Injunction
  (a) Not later than the fifth day after the date on which the liquidation order is served, a credit union that has not requested or ...
• Texas Finance Code Section 126.204 - Action Pending Injunction Hearing
  (a) The court, without notice or hearing, may restrain the commissioner from liquidating the credit union's assets until after a hearing on the suit is ...
• Texas Finance Code Section 126.205 - Hearing On Injunction; Appeal
  (a) The court, as soon as possible, shall hear the suit and shall enter a judgment enjoining or refusing to enjoin the commissioner from liquidating ...
• Texas Finance Code Section 126.206 - National Credit Union Administration As Liquidating Agent
  (a) The commissioner may tender a credit union that has been closed for liquidation to the National Credit Union Administration or its successor as liquidating ...
• Texas Finance Code Section 126.251 - Permissible Activities In Liquidation
  (a) A credit union in liquidation continues in existence to discharge debts, collect and distribute assets, and wind up the credit union's business. (b) The ...
• Texas Finance Code Section 126.252 - Compensation Of Credit Union Employees And Officers
  (a) This chapter does not prevent compensation of a salaried employee or officer of a credit union during the credit union's liquidation. (b) The compensation ...
• Texas Finance Code Section 126.253 - Liquidating Agent Subject To Commission Control
  The liquidating agent shall perform the duties required by the following sections subject to commission rules and under the commissioner's supervision: (1) Sections 126.254-126.258; and ...
• Texas Finance Code Section 126.254 - Possession, Consolidation, And Disposition Of Assets
  The liquidating agent shall: (1) receive and take possession of the books, records, assets, and property of the credit union; (2) sell, enforce collection of, ...
• Texas Finance Code Section 126.255 - Compound Debts
  The liquidating agent shall compound all bad or doubtful debts. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 126.256 - Court Action By Liquidating Agent
  The liquidating agent shall: (1) sue in the name of the liquidating agent or may sue in the name of the credit union; and (2) ...
• Texas Finance Code Section 126.257 - Repudiation Of Burdensome Transactions
  The liquidating agent shall repudiate a contract or unexpired lease the liquidating agent considers burdensome to the credit union. Acts 1997, 75th Leg., ch. 1008, ...
• Texas Finance Code Section 126.258 - Execution Of Documents; Other Necessary Acts
  The liquidating agent may execute any document and perform any other action that: (1) the liquidating agent considers necessary or desirable to discharge the liquidating ...
• Texas Finance Code Section 126.259 - Jurisdiction And Venue
  (a) A suit against a credit union or its liquidating agent while a liquidation order is in effect must be brought in Travis County. (b) ...
• Texas Finance Code Section 126.260 - Exhaustion Of Administrative Remedies
  Except as provided by Subchapter E, administrative remedies must be exhausted before a court may: (1) assert jurisdiction over a claim against the liquidating agent ...
• Texas Finance Code Section 126.301 - Claims Against Credit Union
  The liquidating agent shall: (1) determine the existence and amount of claims; (2) allow proved claims of security, preference, or priority; (3) settle or release ...
• Texas Finance Code Section 126.302 - Notice To Creditors And Members
  (a) The liquidating agent shall give notice to creditors and members to present and prove their claims. (b) The notice must be published once a ...
• Texas Finance Code Section 126.303 - Priority Of Claims
  The liquidating agent shall use the credit union's assets to pay, in the following order: (1) secured creditors to the extent of the value of ...
• Texas Finance Code Section 126.304 - Liquidation Dividends
  (a) The liquidating agent from time to time shall make a ratable liquidation dividend on claims that have been: (1) proved to the satisfaction of ...
• Texas Finance Code Section 126.305 - Payment Of Claims In "No Publication" Liquidation
  (a) In a "no publication" liquidation, the liquidating agent shall determine from all sources available, and within the limits of the credit union's available money, ...
• Texas Finance Code Section 126.306 - Barred Claims
  (a) A claim not filed before the liquidating agent pays the final liquidation dividend is barred. (b) A claim rejected by the liquidating agent is ...
• Texas Finance Code Section 126.351 - Removal Of Liquidating Agent
  (a) On finding that the liquidating agent has failed to properly perform the liquidating agent's duties in a timely and efficient manner or has violated ...
• Texas Finance Code Section 126.352 - Replacement Of Liquidating Agent
  The commissioner shall appoint another liquidating agent on a liquidating agent's resignation, death, illness, removal, desertion, or incapacity to function. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 126.353 - Conflict Of Interest
  (a) The liquidating agent may not acquire an asset of the credit union in liquidation or purchase a loan of the credit union without the ...
• Texas Finance Code Section 126.354 - Compensation
  (a) A liquidating agent is entitled to receive reasonable compensation during the liquidation. (b) The compensation is considered an incidental expense of the liquidation. Acts ...
• Texas Finance Code Section 126.401 - Certificate Of Liquidation And Distribution
  The commissioner shall prescribe the form of a certificate to be completed by the liquidating agent attesting that distribution has been made and liquidation is ...
• Texas Finance Code Section 126.402 - Cancellation Of Certificate Of Incorporation
  The commissioner, on receipt and approval of the certificate executed under Section 126.401, shall cancel the credit union's certificate of incorporation. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 126.403 - Winding Up Of Credit Union Business
  During the three-year period following cancellation of the credit union's certificate of incorporation, the credit union continues to exist and the liquidating agent, or a ...
• Texas Finance Code Section 126.451 - Board Resolution
  Unless the commissioner has issued a liquidation order, the board may adopt a resolution recommending voluntary dissolution of the credit union and directing submission of ...
• Texas Finance Code Section 126.452 - Notification To Commissioner Of Proposed Liquidation
  Not later than the fifth day after the date on which the board's resolution recommending voluntary dissolution is adopted, the board's presiding officer shall notify ...
• Texas Finance Code Section 126.453 - Notice Of Meeting To Liquidate
  Notice of the special meeting to consider voluntary liquidation shall be mailed by first-class mail to each member of the credit union and the commissioner ...
• Texas Finance Code Section 126.454 - Credit Union Operations Before And After Vote
  Immediately after notice under Section 126.453 is mailed, the commissioner may restrict control or give direction with respect to the continued business of the credit ...
• Texas Finance Code Section 126.455 - Vote On Voluntary Liquidation
  At a special meeting called to consider the proposed liquidation, a majority of the credit union members, but not less than a quorum, may vote ...
• Texas Finance Code Section 126.456 - Notice To Commissioner Of Affirmative Vote To Liquidate
  (a) The board's presiding officer or president and the secretary shall notify the commissioner of the intention to liquidate not later than the fifth day ...
• Texas Finance Code Section 126.457 - Appointment Of Liquidating Agent
  (a) If the members approve the liquidation, the board shall appoint a liquidating agent to: (1) conserve and collect the credit union's assets; (2) wind ...
• Texas Finance Code Section 126.458 - Application Of Law To Credit Union In Voluntary Liquidation
  A credit union in the process of voluntary dissolution and liquidation remains subject to this subtitle and Chapter 15, including provisions for examination by the ...
• Texas Finance Code Section 149.001 - Applicability Of Chapters 3 And 4, Business & Commerce Code
  (a) Chapters 3 and 4, Business & Commerce Code, determine the rights, responsibilities, and liabilities of a person regarding an item drawn on, transferred to, ...
• Texas Finance Code Section 149.002 - Exemption From Securities Laws
  (a) Except as required by this subtitle, a credit union authorized to do business under this subtitle or the Federal Credit Union Act (12 U.S.C. ...
• Texas Finance Code Section 151.001 - Short Title
  This chapter may be cited as the Money Services Act. Added by Acts 2005, 79th Leg., ch. 1099, § 1, eff. Sept. 1, 2005. ...
• Texas Finance Code Section 151.002 - Definitions
  (a) This section defines general terms that apply to an applicant for or holder of a money services license issued under this chapter, regardless of ...
• Texas Finance Code Section 151.003 - Exclusions
  The following persons are not required to be licensed under this chapter: (1) the United States or an instrumentality of the United States, including the ...
• Texas Finance Code Section 151.101 - Administration
  The department shall administer this chapter. Added by Acts 2005, 79th Leg., ch. 1099, § 1, eff. Sept. 1, 2005. ...
• Texas Finance Code Section 151.102 - Rules
  (a) The commission may adopt rules to administer and enforce this chapter, including rules necessary or appropriate to: (1) implement and clarify this chapter; (2) ...
• Texas Finance Code Section 151.103 - Commissioner's General Authority
  (a) Each power granted to the commissioner under this chapter is in addition to, and not in limitation of, each other power granted under this ...
• Texas Finance Code Section 151.104 - Investigations
  (a) The commissioner may conduct investigations in or outside this state and the United States as the commissioner considers necessary or appropriate to administer and ...
• Texas Finance Code Section 151.105 - Regulatory Cooperation
  (a) To efficiently and effectively administer and enforce this chapter and to minimize regulatory burden, the commissioner may cooperate, coordinate, and share information with another ...
• Texas Finance Code Section 151.106 - Consent To Service Of Process
  A license holder, an authorized delegate, or a person who knowingly engages in activities that are regulated and require a license under this chapter, with ...
• Texas Finance Code Section 151.201 - Scope
  This subchapter sets out the general qualifications and provisions that apply to a money services license, regardless of whether the license is a money transmission ...
• Texas Finance Code Section 151.202 - Qualifications For License
  (a) Subject to Subsections (b) and (c), to qualify for a license under this chapter, an applicant must demonstrate to the satisfaction of the commissioner ...
• Texas Finance Code Section 151.203 - Application For License
  (a) An application for a license under this chapter must be made under oath and in the form and medium required by the commissioner. The ...
• Texas Finance Code Section 151.204 - Processing And Investigation Of Application
  (a) An application for a license under this chapter shall be processed and acted on according to the time periods established by commission rule. (b) ...
• Texas Finance Code Section 151.205 - Issuance Of License
  (a) The commissioner shall issue a license if the commissioner, with respect to the license for which application has been made, finds that: (1) the ...
• Texas Finance Code Section 151.206 - Transfer Or Assignment Of License
  A license issued under this chapter may not be transferred or assigned. Added by Acts 2005, 79th Leg., ch. 1099, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 151.207 - Renewal Of License
  (a) Regardless of the date on which a license under this chapter is issued, the license expires on August 15 of each year unless the ...
• Texas Finance Code Section 151.208 - Surrender Of License
  (a) A license holder may surrender the license holder's license by delivering the original license to the commissioner along with a written notice of surrender ...
• Texas Finance Code Section 151.209 - Refunds
  A fee or cost paid under this chapter in connection with an application or renewal is not refundable. Added by Acts 2005, 79th Leg., ch. ...
• Texas Finance Code Section 151.301 - Definitions
  (a) This section defines terms that apply to an applicant for or holder of a money transmission license issued under this subchapter. (b) In this ...
• Texas Finance Code Section 151.302 - License Required
  (a) A person may not engage in the business of money transmission or advertise, solicit, or hold itself out as a person that engages in ...
• Texas Finance Code Section 151.303 - Additional Qualifications
  In addition to the general qualifications for licensure set forth in Section 151.202, an applicant for a money transmission license must demonstrate to the satisfaction ...
• Texas Finance Code Section 151.304 - Application And Accompanying Fee, Statements, And Security
  (a) An applicant for a money transmission license must submit an application in accordance with Section 151.203. (b) At the time an application for a ...
• Texas Finance Code Section 151.305 - Investigation And Action On Application
  The commissioner shall investigate the applicant and act on the application in accordance with Sections 151.204 and 151.205. Added by Acts 2005, 79th Leg., ch. ...
• Texas Finance Code Section 151.306 - Temporary License
  (a) The commissioner may issue a temporary license to a person that is engaging in money transmission, but has not obtained a license under this ...
• Texas Finance Code Section 151.307 - Net Worth
  (a) An applicant for a money transmission license must possess, and a money transmission license holder must maintain at all times, a minimum net worth ...
• Texas Finance Code Section 151.308 - Security
  (a) An applicant for a money transmission license must provide, and a money transmission license holder must maintain at all times, security consisting of a ...
• Texas Finance Code Section 151.309 - Permissible Investments
  (a) A money transmission license holder must maintain at all times permissible investments that have an aggregate market value computed in accordance with generally accepted ...
• Texas Finance Code Section 151.401 - Liability Of License Holder
  A money transmission license holder is liable for the payment of all money or monetary value received for transmission either directly or through an authorized ...
• Texas Finance Code Section 151.402 - Conduct Of Business Through Authorized Delegate
  (a) A money transmission license holder may conduct business regulated under this chapter through an authorized delegate appointed by the license holder in accordance with ...
• Texas Finance Code Section 151.403 - Authorized Delegate Conduct
  (a) An authorized delegate of a license holder: (1) is under a duty to and must act only as authorized under the contract with the ...
• Texas Finance Code Section 151.404 - Trust Imposed
  (a) A license holder shall hold in trust all money received for transmission directly or from an authorized delegate from the time of receipt until ...
• Texas Finance Code Section 151.405 - Disclosure Requirements
  (a) A license holder's name and mailing address or telephone number must be provided to the purchaser in connection with each money transmission transaction conducted ...
• Texas Finance Code Section 151.501 - Definitions
  (a) This section defines terms that apply specifically to an applicant for or holder of a currency exchange license issued under this subchapter. (b) In ...
• Texas Finance Code Section 151.502 - License Required
  (a) A person may not engage in the business of currency exchange or advertise, solicit, or hold itself out as providing currency exchange unless the ...
• Texas Finance Code Section 151.503 - Qualifications
  An applicant for a currency exchange license must have the qualifications set forth in Section 151.202. Added by Acts 2005, 79th Leg., ch. 1099, § ...
• Texas Finance Code Section 151.504 - Application And Accompanying Fee And Security
  (a) An applicant for a currency exchange license must submit an application in accordance with Section 151.203. (b) At the time an application for a ...
• Texas Finance Code Section 151.505 - Investigation And Action On Application
  The commissioner shall investigate the applicant and act on the application in accordance with Sections 151.204 and 151.205. Added by Acts 2005, 79th Leg., ch. ...
• Texas Finance Code Section 151.506 - Security
  An applicant for a currency exchange license must provide and a currency exchange license holder must maintain at all times security in the amount of ...
• Texas Finance Code Section 151.601 - Examinations
  (a) The commissioner may examine a license holder or authorized delegate of a license holder as reasonably necessary or appropriate to administer and enforce this ...
• Texas Finance Code Section 151.602 - Records
  (a) A license holder must prepare, maintain, and preserve the following books, accounts, and other records for at least five years or another period as ...
• Texas Finance Code Section 151.603 - Reports
  (a) An applicant or license holder shall file a written report with the commissioner not later than the 15th day after the date the applicant ...
• Texas Finance Code Section 151.604 - Extraordinary Reporting Requirements
  (a) A license holder shall file a written report with the commissioner not later than the 15th day after the date the license holder knows ...
• Texas Finance Code Section 151.605 - Change Of Control
  (a) This section applies to a proposed change of control of a license holder that results in a person or group of persons acting in ...
• Texas Finance Code Section 151.606 - Confidentiality
  (a) Except as otherwise provided by Subsection (b) or by rule of the commission, all financial information and all other personal information obtained by the ...
• Texas Finance Code Section 151.701 - Injunctive Relief
  (a) Whenever it appears that a person has violated, or that reasonable cause exists to believe that a person is likely to violate, this chapter ...
• Texas Finance Code Section 151.702 - Unlicensed Persons
  If the commissioner has reason to believe that an unlicensed person has engaged or is likely to engage in an activity for which a license ...
• Texas Finance Code Section 151.703 - Suspension And Revocation Of License
  (a) The commissioner must revoke a license if the commissioner finds that: (1) the net worth of the license holder is less than the amount ...
• Texas Finance Code Section 151.704 - Suspension And Revocation Of Authorized Delegate Designation
  (a) The commissioner may suspend or revoke the designation of an authorized delegate if the commissioner has reason to believe that: (1) the authorized delegate ...
• Texas Finance Code Section 151.705 - Cease And Desist Orders
  (a) The commissioner may issue an order to cease and desist if the commissioner finds that: (1) an action, violation, or condition listed in Section ...
• Texas Finance Code Section 151.706 - Consent Orders
  (a) The commissioner may enter into a consent order at any time with a person to resolve a matter arising under this chapter or a ...
• Texas Finance Code Section 151.707 - Administrative Penalty
  (a) After notice and hearing, the commissioner may assess an administrative penalty against a person that: (1) has violated this chapter or a rule adopted ...
• Texas Finance Code Section 151.708 - Criminal Penalty
  (a) A person commits an offense if the person: (1) intentionally makes a false statement, misrepresentation, or certification in a record or application filed with ...
• Texas Finance Code Section 151.709 - Notice, Hearing, And Other Procedures For Nonemergency Orders
  (a) This section applies to an order issued by the commissioner under this subchapter that is not an emergency order. (b) An order to which ...
• Texas Finance Code Section 151.710 - Requirements And Notice And Hearing Procedures For Emergency Orders
  (a) This section applies to an emergency order issued by the commissioner under this subchapter. (b) The commissioner may issue an emergency order, without prior ...
• Texas Finance Code Section 151.801 - Administrative Procedures
  (a) All administrative proceedings under this chapter must be conducted in accordance with Chapter 2001, Government Code, and Title 7, Chapter 9, Texas Administrative Code. ...
• Texas Finance Code Section 154.001 - Purpose
  The purposes of this chapter are to: (1) limit the manner in which a person may accept funds in prepayment of funeral services to be ...
• Texas Finance Code Section 154.002 - Definitions
  In this chapter: (1) "Commission" means the Finance Commission of Texas. (2) "Commissioner" means the banking commissioner of Texas. (3) "Department" means the Texas Department ...
• Texas Finance Code Section 154.003 - Effect On Insurance Laws
  Except as provided by Section 154.004, this chapter does not affect the Insurance Code. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 154.004 - Group Insurance Contracts
  (a) A life insurance company authorized to engage in the business of life insurance in this state may issue a group contract of decreasing term ...
• Texas Finance Code Section 154.051 - Administration Of Chapter; Fees
  (a) The department shall administer this chapter. (b) The commission may adopt reasonable rules concerning: (1) fees to defray the cost of administering this chapter; ...
• Texas Finance Code Section 154.052 - Annual Report
  (a) The department may require a permit holder to submit an annual report in the form required by the department. (b) The department shall require ...
• Texas Finance Code Section 154.053 - Records; Examination
  (a) A seller that has outstanding contracts for prepaid funeral benefits shall maintain in this state any record required by the department to determine whether ...
• Texas Finance Code Section 154.054 - Examination Fee
  (a) For each examination conducted under Section 154.053, the commissioner or the commissioner's agent shall impose on the seller a fee in an amount set ...
• Texas Finance Code Section 154.055 - Disclosure Of Certain Information; Confidentiality
  (a) Information relating to the financial condition of a seller obtained by the department directly or indirectly, through examination or otherwise, other than published statements, ...
• Texas Finance Code Section 154.056 - Payment Of Restitution Money
  The department shall pay money received under a restitution order to the injured party as ordered. Acts 1997, 75th Leg., ch. 1008, § 1, eff. ...
• Texas Finance Code Section 154.101 - Permit Requirement
  A person must hold a permit issued under this subchapter to: (1) sell prepaid funeral benefits, or accept money for prepaid funeral benefits, in this ...
• Texas Finance Code Section 154.102 - Permit Application; Fee
  To obtain a permit to sell or continue to sell prepaid funeral benefits, a person must: (1) file an application for a permit with the ...
• Texas Finance Code Section 154.103 - Issuance Of Permit
  (a) The commissioner may investigate an applicant before issuing an initial permit. (b) The commissioner shall approve the application and issue a permit to the ...
• Texas Finance Code Section 154.104 - Term Of Permit
  (a) A permit is issued for a one-year term. (b) The commission by rule may adopt a system under which permits expire on various dates ...
• Texas Finance Code Section 154.105 - Prohibition On Transfer Of Permit
  A permit is not transferable. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 154.106 - Transfer Of Business Ownership
  (a) A permit holder shall notify by registered mail the department and the depository of the money held under Subchapter F of a transfer in ...
• Texas Finance Code Section 154.107 - Required Renewal For Certain Sellers
  A seller that discontinues the sale of prepaid funeral benefits but has outstanding contracts shall renew the seller's permit until the contracts are fully discharged. ...
• Texas Finance Code Section 154.108 - Renewal Fee
  The commission shall set the renewal fee under Section 154.051. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended by Acts ...
• Texas Finance Code Section 154.109 - Grounds For Cancellation Or Suspension Of Or Refusal To Renew Permit
  (a) The commissioner by order may cancel or suspend a permit if the commissioner finds, by examination or other credible evidence, that the permit holder: ...
• Texas Finance Code Section 154.110 - Order To Cancel, Suspend, Or Refuse To Renew Permit
  (a) An order issued under Section 154.109 must state: (1) with reasonable certainty the grounds for the order; and (2) the effective date, which may ...
• Texas Finance Code Section 154.111 - Successor Permit Holder
  (a) The commission shall adopt rules governing the selection of a successor permit holder. (b) A successor permit holder to whom the commissioner transfers a ...
• Texas Finance Code Section 154.151 - Form Of Contract
  (a) The department must approve a sales contract form for prepaid funeral benefits before the form is used. (b) A sales contract for prepaid funeral ...
• Texas Finance Code Section 154.152 - Representations Regarding Approval Of Permit Holder
  A permit holder may represent that the department has approved or otherwise chosen a prepaid funeral vendor only with the following language: "The Texas Banking ...
• Texas Finance Code Section 154.153 - Allocation Of Sales Price
  A seller may not increase the sales price of an item not covered by this chapter to allocate a lesser sales price to an item ...
• Texas Finance Code Section 154.154 - Agreement To Pay Finance Charge
  A purchaser of a prepaid funeral benefits contract may agree in writing to pay the seller a finance charge in accordance with Chapter 345 on ...
• Texas Finance Code Section 154.155 - Cancellation Of Contract
  (a) A purchaser of a prepaid funeral benefits contract may cancel the contract before maturity by giving written notice of cancellation to the seller on ...
• Texas Finance Code Section 154.1551 - Modification At Time Of Funeral
  (a) The funeral merchandise and services to be provided by the seller under a fully paid prepaid funeral benefits contract may be modified after the ...
• Texas Finance Code Section 154.156 - Waiver Of Right Of Cancellation
  (a) The purchaser of a prepaid funeral benefits contract may irrevocably waive the purchaser's right to cancel the contract under Section 154.155. The waiver must ...
• Texas Finance Code Section 154.157 - Performance Of Contract
  Delivery of funeral merchandise before death is not performance, in whole or in part, of a prepaid funeral benefits contract entered into after July 15, ...
• Texas Finance Code Section 154.158 - Enforcement Of Contract
  A seller that violates Section 154.101 may not enforce a prepaid funeral benefits contract, but the purchaser or an heir or legal representative of the ...
• Texas Finance Code Section 154.159 - Administration Of Money Received
  Money received for prepaid funeral benefits shall be administered as prescribed by Section 154.155 and Subchapters E and F, as applicable. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 154.160 - Agent; Deposit Of Money
  (a) A seller shall designate one or more agents by name or title. (b) The seller shall notify the department of: (1) the designation not ...
• Texas Finance Code Section 154.201 - Requirements For Solicitation Of Benefits
  A seller may not solicit an individual's designation of prepaid funeral benefits to be paid from a fund, investment, security, or contract, including an insurance ...
• Texas Finance Code Section 154.202 - Execution Of Contract In Conjunction With Application For Policy
  An insurance-funded prepaid funeral benefits contract must be executed in conjunction with the application for the issuance of the insurance policy. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 154.203 - Payment Of Premiums
  (a) A seller shall remit to the insurance company the premiums collected for an insurance policy that funds prepaid funeral benefits not later than the ...
• Texas Finance Code Section 154.204 - Conversion From Trust-Funded Prepaid Funeral Benefits
  (a) The department must approve a conversion from trust-funded prepaid funeral benefits to insurance-funded prepaid funeral benefits as safeguarding the rights and interests of the ...
• Texas Finance Code Section 154.205 - Amount Payable On Cancellation Of Contract
  A purchaser of an insurance-funded prepaid funeral benefits contract who cancels the contract during the first year of the contract when payments required under the ...
• Texas Finance Code Section 154.206 - Assignment Of Right To Benefits
  The purchaser of an insurance-funded prepaid funeral benefits contract may irrevocably assign the purchaser's ownership of and rights to benefits under the insurance policy to ...
• Texas Finance Code Section 154.207 - Withdrawal Of Benefits Payable Under Policy
  (a) The seller or funeral provider may withdraw the benefits payable under an insurance policy funding prepaid funeral benefits after: (1) the beneficiary named in ...
• Texas Finance Code Section 154.251 - Applicability
  (a) This subchapter applies only to money paid or collected on a trust-funded prepaid funeral benefits contract entered into after July 15, 1963. (b) Money ...
• Texas Finance Code Section 154.252 - Retention Of Money For Expenses
  The seller of a trust-funded prepaid funeral benefits contract may retain for the seller's use and benefit an amount not to exceed one-half of all ...
• Texas Finance Code Section 154.253 - Deposit Of Money Paid Or Collected
  (a) Not later than the 30th day after the date of collection, the money, other than money retained as provided by Section 154.252, shall be ...
• Texas Finance Code Section 154.254 - Amount Payable On Cancellation Of Contract
  A purchaser of a trust-funded prepaid funeral benefits contract who cancels the contract during the first year of the contract when payments required under the ...
• Texas Finance Code Section 154.255 - Standard Of Duty Of Depository
  A depository shall be held to the standard of duty of a fiduciary in holding, investing, or disbursing the money. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 154.256 - Standard Of Care Of Trustee
  A trustee, in administering assets held in a prepaid funeral benefits trust, shall exercise the judgment and care under the circumstances that a person of ...
• Texas Finance Code Section 154.257 - Investment Plan
  (a) A permit holder or trustee, if the permit holder deposits the money with a financial institution as trustee, shall: (1) adopt a written investment ...
• Texas Finance Code Section 154.258 - Permitted Investments
  (a) Money in a prepaid funeral benefits trust may be invested only in: (1) demand deposits, savings accounts, certificates of deposit, or other accounts issued ...
• Texas Finance Code Section 154.259 - Disposal Of Nonconforming Investments
  Before September 1, 1996, a permit holder or trustee shall dispose of any investment made before September 1, 1993, that does not comply with Sections ...
• Texas Finance Code Section 154.260 - Use Of Money To Purchase, Lease, Or Invest In Asset Owned By Seller Or Funeral Provider
  (a) The depository of money under Section 154.253 must obtain the commissioner's prior written approval to use that money to purchase, lease, or invest in ...
• Texas Finance Code Section 154.261 - Withdrawal Of Earnings To Pay Certain Expenses
  (a) The seller of a trust-funded prepaid funeral benefits contract may withdraw money from earnings on an account described by Section 154.253 to pay: (1) ...
• Texas Finance Code Section 154.262 - Withdrawal Of Money On Death Of Beneficiary
  (a) The seller of a trust-funded prepaid funeral benefits contract may withdraw an amount equal to the original contract amount paid by the purchaser and ...
• Texas Finance Code Section 154.263 - Withdrawal Of Earnings Attributable To Contract
  On the maturity date of a trust-funded prepaid funeral benefits contract as provided by Section 154.262 and after the funeral provider has performed its obligations ...
• Texas Finance Code Section 154.264 - Accounting Records
  A seller shall maintain accounting records showing the amount deposited or invested under this subchapter with respect to each contract. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 154.301 - Presumption Of Abandonment
  (a) Money paid by a purchaser of a prepaid funeral benefits contract is personal property subject to presumption of abandonment and delivery to the comptroller ...
• Texas Finance Code Section 154.302 - Notice Of Abandoned Money
  On June 30 of each year, a seller that holds money presumed abandoned under Section 154.301(b) shall furnish the commissioner with an acknowledged written notice ...
• Texas Finance Code Section 154.303 - Authorization To Withdraw Money
  (a) Not later than the 15th day after the date the notice required by Section 154.302 is received, the commissioner shall give the seller written ...
• Texas Finance Code Section 154.304 - Delivery To Comptroller Of Abandoned Money And Report
  Not later than the first November 1 after the date the commissioner receives the notice required by Section 154.302, the seller shall deliver to the ...
• Texas Finance Code Section 154.305 - Discharge Of Contractual Obligations; Indemnity Of Seller
  (a) The delivery of abandoned money and reporting to the comptroller under Section 154.304: (1) relieves the seller of the obligations and liabilities under the ...
• Texas Finance Code Section 154.306 - Liability And Obligations Of Comptroller
  (a) The comptroller is liable to the purchaser or beneficiary of a prepaid funeral benefits contract presumed abandoned under this subchapter only to the extent ...
• Texas Finance Code Section 154.307 - Recourse Of Purchaser Or Beneficiary
  A purchaser's or beneficiary's sole recourse after a seller has delivered abandoned money and reported to the comptroller under Section 154.304 is to file a ...
• Texas Finance Code Section 154.351 - Maintenance Of Guaranty Fund
  The commission by rule shall establish and the department shall maintain a fund to guarantee performance by sellers of prepaid funeral benefits contracts of their ...
• Texas Finance Code Section 154.352 - Assessment On Sales Contracts
  (a) The department shall assess and collect from a seller not more than $1 for each unmatured prepaid funeral benefits contract sold during each calendar ...
• Texas Finance Code Section 154.353 - Deposit Of Fund
  (a) The fund may be deposited with: (1) the comptroller; (2) a federally insured financial institution that has its main office or a branch in ...
• Texas Finance Code Section 154.354 - Use Of Fund Earnings
  The department may use the earnings from the fund to operate and maintain the fund. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. ...
• Texas Finance Code Section 154.355 - Advisory Council
  (a) An advisory council composed of the following individuals shall supervise the operation and maintenance of the fund: (1) the commissioner or the commissioner's representative; ...
• Texas Finance Code Section 154.356 - Assessment On Outstanding Contracts To Pay Claims
  (a) To pay a claim against the fund when the balance of the fund is insufficient to pay that claim, the advisory council may assess ...
• Texas Finance Code Section 154.357 - Claim Against Seller Or Depository
  The department may assert a claim against a seller or depository that commits a violation of this chapter that could result in a claim against ...
• Texas Finance Code Section 154.401 - Criminal Penalty For Certain Violations Of Chapter
  (a) Except as provided by Section 154.402, an officer, director, agent, or employee of a seller commits an offense if the person: (1) makes or ...
• Texas Finance Code Section 154.402 - Criminal Penalty Relating To Deposit Or Withdrawal Of Money
  (a) A person commits an offense if the person: (1) fails to deposit money in compliance with this chapter; or (2) withdraws money in a ...
• Texas Finance Code Section 154.403 - Criminal Penalty For Failure To File Report
  (a) An officer of a seller commits an offense if the officer fails or refuses to file an annual report required by Section 154.052 before ...
• Texas Finance Code Section 154.404 - Criminal Penalty For Failure To Deliver Money To Designated Agent
  (a) A seller or a person acting on behalf of a seller commits an offense if the seller or person: (1) collects money under a ...
• Texas Finance Code Section 154.405 - Criminal Penalty For Agent's Failure To Deposit Certain Money
  (a) A designated agent of a seller commits an offense if the agent fails to deposit money collected under a prepaid funeral benefits contract before ...
• Texas Finance Code Section 154.406 - Administrative Penalty
  (a) After notice and opportunity for hearing, the commissioner may impose an administrative penalty on a person who: (1) violates this chapter or a final ...
• Texas Finance Code Section 154.4061 - Pattern Of Wilful Disregard
  (a) If, after a hearing conducted as provided by Chapter 2001, Government Code, the trier of fact finds that a violation of this chapter or ...
• Texas Finance Code Section 154.407 - Injunctive Relief
  The commissioner may sue in a district court in Travis County to enjoin a violation or threatened violation of: (1) this chapter; or (2) a ...
• Texas Finance Code Section 154.408 - Cease And Desist Order
  (a) The commissioner may issue a cease and desist order to a person if the commissioner finds by examination or other credible evidence that the ...
• Texas Finance Code Section 154.409 - Suit By Attorney General
  (a) The department may notify the attorney general of a violation of this chapter. (b) The attorney general shall institute suit in the name of ...
• Texas Finance Code Section 154.410 - Quo Warranto Proceedings
  (a) The attorney general may institute a quo warranto proceeding in a district court of Travis County to forfeit the charter or the right to ...
• Texas Finance Code Section 154.411 - Restitution
  The commissioner may issue an order to a person requiring restitution if, after notice and opportunity for hearing, the commissioner finds that the person: (1) ...
• Texas Finance Code Section 154.412 - Seizure Of Prepaid Funeral Money And Records
  (a) After the commissioner cancels or fails to renew a permit under Section 154.109(a) or on notice to a person required to obtain a permit ...
• Texas Finance Code Section 154.413 - Notification Of Purchaser
  Not later than the 30th day after the date prepaid funeral money is seized under Section 154.412, the commissioner may notify each known person who ...
• Texas Finance Code Section 154.414 - Liquidation Of Business And Affairs Of Person Following Seizure Of Money And Records
  After an order issued under Section 154.412(a) becomes final and unappealable, the commissioner may petition the district court in the county in which a person ...
• Texas Finance Code Section 155.001 - Definition
  In this chapter, "bond investment company" includes a person that places or sells bonds, certificates, or debentures on the partial payment or installment plan. Acts ...
• Texas Finance Code Section 155.002 - Deposit Required
  (a) Each person doing business in this state as a bond investment company shall deposit with the comptroller, in cash or securities approved by the ...
• Texas Finance Code Section 155.003 - Failure To Make Deposit
  (a) A domestic corporation that fails to make the deposit required by this chapter before the 61st day after the date of its organization is ...
• Texas Finance Code Section 155.004 - Receiver On Failure Of Corporation
  (a) If a corporation that does business in this state as a bond investment company fails, a district court of the county in which the ...
• Texas Finance Code Section 155.005 - Exchange Of Deposit
  (a) On request, the comptroller may allow a bond investment company that has made a deposit under this chapter to alter the composition of the ...
• Texas Finance Code Section 155.006 - Return Of Deposit
  The comptroller shall return a deposit of cash or securities made under this chapter to a bond investment company if: (1) the company ceases to ...
• Texas Finance Code Section 155.007 - Criminal Penalty
  (a) An officer or agent of a domestic or foreign corporation or company doing business in this state as a bond investment company commits an ...
• Texas Finance Code Section 156.213 - Annual Report
  Text of section as added by Acts 2001, 77th Leg., ch. 337, § 9 (a) Each licensed mortgage broker shall file an annual report ...
• Texas Finance Code Section 156.213 - Annual Report
  Text of section as added by Acts 2001, 77th Leg., ch. 407, § 3 (a) Each licensed mortgage broker shall file an annual report ...
• Texas Finance Code Section 156.301 - Inspections; Investigations
  (a) The commissioner may conduct inspections of a person licensed under this chapter as the commissioner determines necessary to determine whether the person is complying ...
• Texas Finance Code Section 156.3011 - Issuance And Enforcement Of Subpoena
  (a) During an investigation, the commissioner may issue a subpoena that is addressed to a peace officer of this state or other person authorized by ...
• Texas Finance Code Section 156.302 - Administrative Penalty
  (a) The commissioner may impose an administrative penalty on a person licensed under this chapter who violates this chapter or a rule or order adopted ...
• Texas Finance Code Section 156.303 - Disciplinary Action; Cease And Desist Order
  (a) The commissioner may order disciplinary action against a licensed mortgage broker or a licensed loan officer when the commissioner, after a hearing, has determined ...
• Texas Finance Code Section 156.304 - Fee Assessment And Disclosure
  (a) Before the completion of all services to be performed, a mortgage broker may charge and receive, unless prohibited by law, the following fees for ...
• Texas Finance Code Section 156.305 - Restitution
  The commissioner may order a person to make restitution for any amount received by that person in violation of this chapter. A mortgage broker may ...
• Texas Finance Code Section 156.401 - Hearings And Judicial Review
  (a) The commissioner may employ an enforcement staff to investigate and prosecute complaints made against persons licensed under this chapter. The commissioner may employ a ...
• Texas Finance Code Section 156.402 - Civil Actions And Injunctive Relief
  (a) A mortgage applicant injured by a violation of this chapter may bring an action for recovery of actual monetary damages and reasonable attorney's fees ...
• Texas Finance Code Section 156.403 - Burden Of Proof To Establish An Exemption
  The burden of proving an exemption in a proceeding or action brought under this chapter is on the person claiming the benefit of the exemption. ...
• Texas Finance Code Section 156.404 - Reliance On Written Notices From Commissioner
  A person does not violate this chapter with respect to an action taken or omission made in reliance on a written notice, written interpretation, or ...
• Texas Finance Code Section 156.405 - Completion Of Mortgage Broker Services
  (a) On disbursement of mortgage proceeds to or on behalf of the mortgage applicant, the mortgage broker and loan officer who assisted the mortgage applicant ...
• Texas Finance Code Section 156.406 - Unlicensed Activity
  (a) A person who is not exempt under this chapter and who acts as a mortgage broker or loan officer without first obtaining a license ...
• Texas Finance Code Section 156.501 - Mortgage Broker Recovery Fund
  (a) The commissioner shall establish and maintain a mortgage broker recovery fund as provided by this subchapter. The amounts received by the commissioner for deposit ...
• Texas Finance Code Section 156.502 - Funding
  (a) On an application for an original license or for renewal of a license issued under this chapter, the applicant, in addition to paying the ...
• Texas Finance Code Section 156.503 - Statute Of Limitations
  An action for a judgment that subsequently results in an order for collection from the fund may not be instituted after the second anniversary of ...
• Texas Finance Code Section 156.504 - Procedure For Recovery
  (a) An aggrieved person who recovers against a mortgage broker or loan officer licensed under this chapter a valid court judgment for conduct described by ...
• Texas Finance Code Section 156.505 - Recovery Limits
  (a) A person entitled to receive payment out of the fund is entitled to receive reimbursement of actual, out-of-pocket damages, reasonable attorney's fees, and court ...
• Texas Finance Code Section 156.506 - Revocation Of License For Payment From Fund
  (a) The commissioner may revoke a license issued under this chapter on proof that the commissioner has made a payment from the fund of any ...
• Texas Finance Code Section 156.507 - Subrogation
  When the commissioner has paid a judgment creditor an amount from the fund as directed by the court, the commissioner is subrogated to all of ...
• Texas Finance Code Section 156.508 - Failure To Comply With Subchapter
  The failure of an aggrieved person to comply with a provision of this subchapter relating to the fund constitutes a waiver of any rights under ...
• Texas Finance Code Section 157.001 - Short Title
  This chapter may be cited as the Mortgage Banker Registration Act. Added by Acts 2003, 78th Leg., ch. 1301, § 1, eff. Jan. 1, 2004. ...
• Texas Finance Code Section 157.002 - Definitions
  In this chapter: (1) "Commissioner" means the savings and loan commissioner. (2) "Mortgage banker" means a person who: (A) accepts an application for a mortgage ...
• Texas Finance Code Section 157.003 - Registration Required
  (a) A person must register under this chapter before the person may conduct the business of a mortgage banker in this state, unless the person ...
• Texas Finance Code Section 157.004 - Exemptions
  This chapter does not apply to: (1) a federally insured bank, savings bank, savings and loan association, Farm Credit System Institution, or credit union; (2) ...
• Texas Finance Code Section 157.005 - Update Of Registration Statement
  A mortgage banker shall update information contained in the registration statement not later than the 30th day after the date the information changes. Added by ...
• Texas Finance Code Section 157.006 - Registration And Administration Fee
  The commissioner may charge a mortgage banker a reasonable fee to cover the costs of filing the registration statement and administering this chapter. The fee ...
• Texas Finance Code Section 157.007 - Disclosure Statement
  A mortgage banker shall include the following notice to a mortgage loan applicant with an application for a mortgage loan: "COMPLAINTS REGARDING MORTGAGE BANKERS SHOULD ...
• Texas Finance Code Section 157.008 - Complaints
  (a) If the Savings and Loan Department receives a signed written complaint from a person concerning a mortgage banker, the commissioner shall notify the representative ...
• Texas Finance Code Section 157.009 - Termination Of Registration
  (a) A mortgage banker may withdraw the mortgage banker's registration at any time. (b) The commissioner may revoke the registration of a mortgage banker if ...
• Texas Finance Code Section 157.010 - Reregistration
  (a) A mortgage banker whose registration is revoked by the commissioner may register again only after receiving the authorization of the commissioner. The commissioner shall ...
• Texas Finance Code Section 157.011 - Rulemaking Authority
  (a) The Finance Commission of Texas may adopt rules necessary to implement or fulfill the purpose of this chapter. (b) The Finance Commission of Texas ...
• Texas Finance Code Section 181.001 - Short Title
  This subtitle may be cited as the Texas Trust Company Act. Added by Acts 1999, 76th Leg., ch. 62, § 7.16(a), eff. Sept. 1, 1999. ...
• Texas Finance Code Section 181.002 - Definitions
  (a) In this subtitle: (1) "Account" means the client relationship established with a trust institution involving the transfer of funds or property to the trust ...
• Texas Finance Code Section 181.003 - Trust Company Rules
  (a) The finance commission may adopt rules to accomplish the purposes of this subtitle, including rules necessary or reasonable to: (1) implement and clarify this ...
• Texas Finance Code Section 181.004 - Implying That Person Is Trust Company
  (a) A person or company may not use in a business name or advertising the words "trust," "trust company," or any similar term or phrase, ...
• Texas Finance Code Section 181.005 - Liability Of Trust Company Directors And Personnel
  (a) The provisions of the Texas Business Corporation Act regarding liability, defenses, and indemnification of a director, officer, agent, or employee apply to a director, ...
• Texas Finance Code Section 181.006 - Exemption Of Trust Institution Directors And Personnel From Securities Law
  An officer, director, manager, managing participant, or employee of a trust institution with fewer than 500 shareholders or participants, including a state trust company or ...
• Texas Finance Code Section 181.007 - Attachment, Injunction, Or Execution
  An attachment, injunction, or execution to collect a money judgment or secure a prospective money judgment against a trust institution, including a state trust company ...
• Texas Finance Code Section 181.101 - Issuance Of Interpretive Statements
  (a) The banking commissioner: (1) may issue interpretive statements containing matters of general policy for the guidance of the public and state trust companies; and ...
• Texas Finance Code Section 181.102 - Issuance Of Opinion
  (a) In response to a specific request from a member of the public or industry, the banking commissioner may issue an opinion directly or through ...
• Texas Finance Code Section 181.103 - Effect Of Interpretive Statement Or Opinion
  An interpretive statement or opinion issued under this subchapter does not have the force of law and is not a rule for the purposes of ...
• Texas Finance Code Section 181.104 - Examination Requirement
  (a) The banking commissioner shall examine each state trust company annually. (b) The banking commissioner may examine a state trust company more often than annually ...
• Texas Finance Code Section 181.105 - Cost Of Regulation
  Each state trust company shall pay, through the imposition and collection of fees established by the finance commission under Section 181.003(a)(4): (1) the cost of ...
• Texas Finance Code Section 181.106 - Regulation And Examination Of Related Entities
  (a) The banking commissioner may regulate and examine, to the same extent as if the services or activities were performed by a state trust company ...
• Texas Finance Code Section 181.107 - Statements Of Condition And Income; Penalty
  (a) Each state trust company periodically shall file with the banking commissioner a copy of its statement of condition and income. (b) The finance commission ...
• Texas Finance Code Section 181.108 - Liability Of Commission And Department Officers And Personnel Limited
  (a) The banking commissioner, a member of the finance commission, a deputy banking commissioner, an examiner, assistant examiner, supervisor, conservator, agent, or other officer or ...
• Texas Finance Code Section 181.201 - Banking Commissioner Hearing
  (a) The banking commissioner may convene a hearing to receive evidence and argument regarding any matter within the jurisdiction of and before the banking commissioner ...
• Texas Finance Code Section 181.202 - Appeal Of Banking Commissioner Decision Or Order
  Except as expressly provided otherwise by this subtitle, a person affected by a decision or order of the banking commissioner made under this subtitle after ...
• Texas Finance Code Section 181.203 - Appeal To Finance Commission
  (a) In an appeal to the finance commission, the finance commission shall consider the questions raised by the application for review and may also consider ...
• Texas Finance Code Section 181.204 - Direct Appeal To Court Or Appeal Of Finance Commission Order
  A person affected by a final order of the banking commissioner who elects to appeal directly to district court, or a person affected by a ...
• Texas Finance Code Section 181.301 - Disclosure By Department Prohibited
  (a) Except as expressly provided otherwise by this subtitle or a rule adopted under Section 181.003(a)(1), the following are confidential and may not be disclosed ...
• Texas Finance Code Section 181.302 - Disclosure To Finance Commission
  Confidential information may not be disclosed to a member of the finance commission. A member of the finance commission may not be given access to ...
• Texas Finance Code Section 181.303 - Disclosure To Other Agencies
  (a) For purposes of this section, "affiliated group," "agency," "functional regulatory agency," and "privilege" have the meanings assigned by Section 31.303. (b) The banking commissioner ...
• Texas Finance Code Section 181.304 - Other Disclosure Prohibited; Penalty
  (a) Confidential information that is provided to a state trust company, affiliate, or service provider of the state trust company, whether in the form of ...
• Texas Finance Code Section 181.305 - Civil Discovery
  Civil discovery of confidential information from a person subject to Section 181.304 under subpoena or other legal process in a civil proceeding must comply with ...
• Texas Finance Code Section 181.306 - Investigative Information
  Notwithstanding any other law, the banking commissioner may refuse to release information or records concerning a state trust company in the custody of the department ...
• Texas Finance Code Section 181.307 - Employment Information
  (a) A person may provide employment information concerning the known or suspected involvement of a present or former employee, officer, or director of a state ...
• Texas Finance Code Section 181.308 - Shareholder Inspection Rights
  (a) Notwithstanding Article 2.44, Texas Business Corporation Act, a shareholder or participant of a state trust company may not examine: (1) a report of examination ...
• Texas Finance Code Section 182.001 - Organization And General Powers Of State Trust Company
  (a) Subject to Subsection (g) and the other provisions of this chapter, one or more persons may organize and charter a state trust company as ...
• Texas Finance Code Section 182.002 - Articles Of Association Of State Trust Company
  (a) The articles of association of a state trust company must be signed and acknowledged by each organizer and must contain: (1) the name of ...
• Texas Finance Code Section 182.003 - Application For State Trust Company Charter; Standards For Approval
  (a) An application for a state trust company charter must be made under oath and in the form required by the banking commissioner. The application ...
• Texas Finance Code Section 182.004 - Notice And Investigation Of Charter Application
  (a) The organizers shall solicit comments and protests by publishing notice of the application, its date of filing, and the identity of the organizers, in ...
• Texas Finance Code Section 182.005 - Protest; Hearing; Decision On Charter Application
  (a) Any person may file a protest of an application with the banking commissioner. (b) If a protest of the application is not filed on ...
• Texas Finance Code Section 182.006 - Issuance Of Charter
  A state trust company may not engage in the trust business until it receives its charter from the banking commissioner. The banking commissioner may not ...
• Texas Finance Code Section 182.007 - Deadline To Begin Business
  If a state trust company does not open and engage in the trust business within six months after the date it receives its charter or ...
• Texas Finance Code Section 182.008 - Restricted Capital
  (a) The banking commissioner may not issue a charter to a state trust company having restricted capital of less than $1 million. (b) The banking ...
• Texas Finance Code Section 182.009 - Application Of General Corporate Law
  (a) The Texas Business Corporation Act and the Texas Miscellaneous Corporation Laws Act (Article 1302-1.01 et seq., Vernon's Texas Civil Statutes) are incorporated into this ...
• Texas Finance Code Section 182.010 - Parity
  (a) A state trust company has the same rights and privileges with respect to the exercise of fiduciary powers that are or may be granted ...
• Texas Finance Code Section 182.0105 - Financial Activities
  (a) The finance commission by rule may determine that an activity not otherwise approved or authorized for state trust companies is: (1) a financial activity; ...
• Texas Finance Code Section 182.011 - Exemption From Statutory Provisions For Certain State Trust Companies
  (a) A state trust company may request in writing that it be exempted from specified provisions of this subtitle. The banking commissioner may grant the ...
• Texas Finance Code Section 182.012 - Application For Exemption
  (a) A state trust company requesting an exemption under Section 182.011 shall file an application with the banking commissioner that includes: (1) a nonrefundable application ...
• Texas Finance Code Section 182.013 - Annual Certification For Exempt State Trust Company
  (a) Before June 30 of each year, an exempt state trust company shall file a certification on a form provided by the banking commissioner that ...
• Texas Finance Code Section 182.014 - Limitation On Effect Of Exemption
  (a) An exempt state trust company shall comply with the home office provisions of Section 182.202. (b) The grant of an exemption to a state ...
• Texas Finance Code Section 182.015 - Change Of Control Of Exempt State Trust Company
  Control of an exempt state trust company may not be sold or transferred with exempt status. If control of an exempt state trust company is ...
• Texas Finance Code Section 182.016 - Grounds For Revocation Of Exemption
  The banking commissioner may revoke an exemption of a state trust company if the trust company: (1) makes a false statement under oath on any ...
• Texas Finance Code Section 182.017 - Notice And Effect Of Revocation Of Exemption
  (a) If the banking commissioner determines from examination or other credible evidence that an exempt state trust company has violated any of the requirements of ...
• Texas Finance Code Section 182.018 - Action After Revocation Of Exemption
  (a) A state trust company must comply with all of the provisions of Sections 182.003(b) and (c) not later than the fifth day after the ...
• Texas Finance Code Section 182.019 - Prior Exemption
  A state trust company that was exempt under a predecessor to this subtitle is considered exempt under this subtitle. Added by Acts 1999, 76th Leg., ...
• Texas Finance Code Section 182.020 - Foreign Corporation Exercising Trust Powers
  (a) A foreign corporation may not conduct a trust business in this state. A foreign corporation may control a state trust company in this state ...
• Texas Finance Code Section 182.021 - Activities Not Requiring Charter
  Subject to Subchapter C, Chapter 187, a company does not engage in the trust business in a manner requiring a state charter by: (1) acting ...
• Texas Finance Code Section 182.0211 - Conformance With Securities Act
  For the purposes of Section 182.021(7), "salesman" includes "agent" and "advisor" includes "investment adviser" or "investment adviser representative." Added by Acts 2001, 77th Leg., ch. ...
• Texas Finance Code Section 182.101 - Amendment Or Restatement Of State Trust Company Articles Of Association
  (a) A state trust company that has been granted a charter under Section 182.006 or a predecessor statute may amend or restate its articles of ...
• Texas Finance Code Section 182.102 - Establishing Series Of Shares Or Participation Shares
  (a) If the articles of association expressly give the board authority to establish series and determine the preferences, limitations, and relative rights of each series, ...
• Texas Finance Code Section 182.103 - Change In Restricted Capital
  (a) A state trust company may not reduce or increase its restricted capital through dividend, redemption, issuance of shares or participation shares, or otherwise without ...
• Texas Finance Code Section 182.104 - Capital Notes Or Debentures
  (a) With the prior written approval of the banking commissioner, a state trust company may at any time through action of its board, and without ...
• Texas Finance Code Section 182.105 - Board Designation Of Certified Surplus
  Periodically the board may vote to designate and record in its minutes the amount of certified surplus. Except to absorb losses in excess of undivided ...
• Texas Finance Code Section 182.201 - Conduct Of Trust Business
  A state trust company may engage in the trust business at its home office and at other locations as permitted by this subchapter. Added by ...
• Texas Finance Code Section 182.202 - Home Office
  (a) Each state trust company must have and continuously maintain in this state a home office. The home office must be a location at which ...
• Texas Finance Code Section 182.203 - Additional Offices
  (a) A state trust company may establish and maintain additional offices. To establish an additional office, the state trust company must file a written notice ...
• Texas Finance Code Section 182.301 - Merger Authority
  (a) Subject to this subchapter and with the prior written approval of the banking commissioner, a state trust company may merge with another person to ...
• Texas Finance Code Section 182.302 - Merger Application; Grounds For Approval
  (a) To apply for approval of a merger, the parties must submit the original articles of merger, a number of copies of the articles of ...
• Texas Finance Code Section 182.303 - Approval Of Banking Commissioner
  (a) If the banking commissioner approves the merger and finds that all required filing fees and investigative costs have been paid, the banking commissioner shall: ...
• Texas Finance Code Section 182.304 - Rights Of Dissenters To Merger
  A shareholder, participant, or participant-transferee may dissent from the merger to the extent and by following the procedure provided by the Texas Business Corporation Act ...
• Texas Finance Code Section 182.401 - Authority To Purchase Assets Of Another Trust Institution
  (a) A state trust company with the prior written approval of the banking commissioner may purchase all or substantially all of the assets of another ...
• Texas Finance Code Section 182.402 - Authority To Act As Disbursing Agent
  (a) The purchasing state trust company may hold the purchase price and any additional funds delivered to it by the selling institution in trust for ...
• Texas Finance Code Section 182.403 - Liquidation Of Selling Institution
  If the selling institution is at any time after the sale of assets voluntarily or involuntarily closed for liquidation by a state or federal regulatory ...
• Texas Finance Code Section 182.404 - Payment To Creditors
  The purchasing state trust company may pay a creditor of the selling institution the amount to be paid the creditor under the terms of the ...
• Texas Finance Code Section 182.405 - Sale Of Assets
  (a) The board of a state trust company, with the banking commissioner's approval, may cause the state trust company to sell all or substantially all ...
• Texas Finance Code Section 182.501 - Merger Or Conversion Of State Trust Company Into Another Trust Institution Exercising Fiduciary Powers
  (a) Subject to Chapter 187, a state trust company may act as necessary and to the extent permitted by the laws of the United States, ...
• Texas Finance Code Section 182.502 - Conversion Of Trust Institution Into State Trust Company
  (a) A trust institution may apply to the banking commissioner for conversion into a state trust company on a form prescribed by the banking commissioner ...
• Texas Finance Code Section 183.001 - Acquisition Of Control
  (a) Except as expressly permitted by this subtitle, without the prior written approval of the banking commissioner a person may not directly or indirectly acquire ...
• Texas Finance Code Section 183.002 - Application Regarding Acquisition Of Control
  (a) The transferee in an acquisition of control of a state trust company or of a person that controls a state trust company must file ...
• Texas Finance Code Section 183.003 - Hearing And Decision On Acquisition Of Control
  (a) Not later than the 60th day after the date the notice is published, the banking commissioner shall approve the application or set the application ...
• Texas Finance Code Section 183.004 - Appeal From Adverse Decision
  (a) If a hearing has been held, the banking commissioner has entered an order denying the application, and the order has become final, the transferee ...
• Texas Finance Code Section 183.005 - Objection To Other Transfer
  This subchapter does not prevent the banking commissioner from investigating, commenting on, or seeking to enjoin or set aside a transfer of voting securities that ...
• Texas Finance Code Section 183.006 - Civil Enforcement; Criminal Penalty
  (a) If the banking commissioner believes that a person has violated or is about to violate this subchapter or a rule or order of the ...
• Texas Finance Code Section 183.101 - Voting Securities Held By Trust Company
  (a) Voting securities of a state trust company held by the state trust company in a fiduciary capacity under a will or trust, whether registered ...
• Texas Finance Code Section 183.102 - Bylaws
  Except as provided by Section 183.207, each state trust company shall adopt bylaws and may amend its bylaws from time to time for the purposes ...
• Texas Finance Code Section 183.103 - Board Of Directors, Managers, Or Managing Participants
  (a) The board of a state trust company must consist of not fewer than five or more than 25 directors, managers, or managing participants, the ...
• Texas Finance Code Section 183.104 - Advisory Director Or Advisory Manager
  An advisory director or advisory manager is not considered to be a director if the advisory director or advisory manager: (1) is not elected by ...
• Texas Finance Code Section 183.105 - Required Quarterly Board Meeting
  (a) The board of a state trust company shall hold at least one regular meeting each quarter. (b) At each regular meeting the board shall ...
• Texas Finance Code Section 183.106 - Officers
  (a) The board shall annually appoint the officers of the state trust company, who serve at the will of the board. (b) The state trust ...
• Texas Finance Code Section 183.107 - Limitation On Action Of Officer Or Employee In Relation To Asset Or Liability
  Unless expressly authorized by a resolution of the board recorded in its minutes, an officer or employee may not create or dispose of a state ...
• Texas Finance Code Section 183.108 - Certain Criminal Offenses
  (a) An officer, director, manager, managing participant, employee, shareholder, or participant of a state trust company commits an offense if the person knowingly: (1) conceals ...
• Texas Finance Code Section 183.109 - Transactions With Management And Affiliates
  (a) Without the prior approval of a disinterested majority of the board recorded in the minutes, or if a disinterested majority cannot be obtained, the ...
• Texas Finance Code Section 183.110 - Fiduciary Responsibility
  The board of a state trust company is responsible for the proper exercise of fiduciary powers by the state trust company and each matter pertinent ...
• Texas Finance Code Section 183.111 - Recordkeeping
  A state trust company shall keep its fiduciary records separate and distinct from other records of the state trust company in compliance with applicable rules ...
• Texas Finance Code Section 183.112 - Bonding Requirements
  (a) The board of a state trust company shall require a bond for the protection and indemnity of clients, in reasonable amounts established by rules ...
• Texas Finance Code Section 183.113 - Reports Of Apparent Crime
  (a) A state trust company that is the victim of a robbery, has a shortage of corporate or fiduciary funds in excess of $5,000, or ...
• Texas Finance Code Section 183.201 - Liability Of Participants And Managers
  (a) Except as provided by Subsection (b), a participant, participant-transferee, or manager of a limited trust association is not liable for a debt, obligation, or ...
• Texas Finance Code Section 183.202 - Filing Of Notice Of Full Liability
  (a) A limited trust association shall file with the banking commissioner a copy of any participation agreement by which a participant of the limited trust ...
• Texas Finance Code Section 183.203 - Contracting For Debt Or Obligation
  Except as provided by this section or the articles of association of the limited trust association, a debt, liability, or other obligation may be contracted ...
• Texas Finance Code Section 183.204 - Management Of Limited Trust Association
  (a) Management of a limited trust association is vested in the participants in proportion to each participant's contribution to capital, as adjusted periodically to properly ...
• Texas Finance Code Section 183.205 - Withdrawal Or Reduction Of Participant's Contribution To Capital
  (a) Except as otherwise provided by this chapter, a participant may not receive from a limited trust association any part of the participant's contribution to ...
• Texas Finance Code Section 183.206 - Interest In Limited Trust Association; Transferability Of Interest
  (a) The interest of a participant or participant-transferee in a limited trust association is the personal property of the participant or the participant-transferee and may ...
• Texas Finance Code Section 183.207 - Bylaws Of Limited Trust Association
  (a) A limited trust association in which management is retained by the participants is not required to adopt bylaws if the provisions required by law ...
• Texas Finance Code Section 183.208 - Dissolution
  (a) A limited trust association organized under this chapter is dissolved on: (1) the expiration of the period fixed for the duration of the limited ...
• Texas Finance Code Section 183.209 - Allocation Of Profits And Losses
  The profits and losses of a limited trust association may be allocated among the participants and among classes of participants as provided by the participation ...
• Texas Finance Code Section 183.210 - Distributions
  Subject to Section 182.103, distributions of cash or other assets of a limited trust association may be made to the participants as provided by the ...
• Texas Finance Code Section 183.211 - Application Of Other Provisions To Limited Trust Associations
  For purposes of applying the provisions of this subtitle other than this subchapter to a limited trust association, as the context requires: (1) a manager ...
• Texas Finance Code Section 184.001 - Definition
  In this subchapter, "state trust company facility" means real property, including an improvement, that a state trust company owns or leases, to the extent the ...
• Texas Finance Code Section 184.002 - Investment In State Trust Company Facilities
  (a) Without the prior written approval of the banking commissioner, a state trust company may not directly or indirectly invest an amount in excess of ...
• Texas Finance Code Section 184.003 - Other Real Property
  (a) A state trust company may not invest its restricted capital in real property except: (1) as permitted by this subtitle or rules adopted under ...
• Texas Finance Code Section 184.101 - Securities
  (a) A state trust company may invest its restricted capital in any type or character of equity or investment securities under the limitations provided by ...
• Texas Finance Code Section 184.102 - Transactions In State Trust Company Shares Or Participation Shares
  Except with the prior written approval of the banking commissioner: (1) a state trust company may not acquire its own shares or participation shares unless ...
• Texas Finance Code Section 184.103 - State Trust Company Subsidiaries
  (a) Except as otherwise provided by this subtitle or rules adopted under this subtitle, and subject to the exercise of prudent judgment, a state trust ...
• Texas Finance Code Section 184.104 - Other Investment Provisions
  (a) Without the prior written approval of the banking commissioner, a state trust company may not make any investment of its secondary capital in any ...
• Texas Finance Code Section 184.105 - Engaging In Commerce Prohibited
  (a) Except as otherwise provided by this subtitle or rules adopted under this subtitle, a state trust company may not invest its funds in trade ...
• Texas Finance Code Section 184.201 - Lending Limits
  (a) A state trust company's total outstanding loans and extensions of credit to a person other than an insider may not exceed an amount equal ...
• Texas Finance Code Section 184.202 - Violation Of Lending Limit
  (a) An officer, director, manager, managing participant, or employee of a state trust company who approves or participates in the approval of a loan with ...
• Texas Finance Code Section 184.203 - Lease Financing Transaction
  (a) Subject to rules adopted under this subtitle, a state trust company may become the owner and lessor of tangible personal property for lease financing ...
• Texas Finance Code Section 184.204 - General Banking Privileges Not Conferred
  This subchapter does not confer general banking privileges on a state trust company. Added by Acts 1999, 76th Leg., ch. 62, § 7.16(a), eff. Sept. ...
• Texas Finance Code Section 184.301 - Trust Deposits
  (a) A state trust company may deposit trust funds with itself as an investment if: (1) the deposit is authorized by the settlor or beneficiary; ...
• Texas Finance Code Section 184.302 - General Banking Privileges Not Conferred
  This subchapter does not confer general banking privileges on a state trust company. Added by Acts 1999, 76th Leg., ch. 62, § 7.16(a), eff. Sept. ...
• Texas Finance Code Section 184.401 - Borrowing Limit
  Except with the prior written approval of the banking commissioner, a state trust company may not have outstanding liabilities, excluding trust deposit liabilities arising under ...
• Texas Finance Code Section 184.402 - Pledge Of Assets
  (a) A state trust company may not pledge or create a lien on any of its assets except to secure: (1) the repayment of money ...
• Texas Finance Code Section 185.001 - Determination Letter
  (a) If the banking commissioner determines from examination or other credible evidence that a state trust company is in a condition that may warrant the ...
• Texas Finance Code Section 185.002 - Cease And Desist Order
  (a) The banking commissioner has grounds to issue a cease and desist order to an officer, employee, director, manager, or managing participant of a state ...
• Texas Finance Code Section 185.003 - Removal Or Prohibition Order
  (a) The banking commissioner has grounds to remove a present or former officer, director, manager, managing participant, or employee of a state trust company from ...
• Texas Finance Code Section 185.004 - Hearing On Proposed Order
  (a) A requested hearing on a proposed order shall be held not later than the 30th day after the date the first request for a ...
• Texas Finance Code Section 185.005 - Emergency Order
  (a) If the banking commissioner believes that immediate action is needed to prevent immediate and irreparable harm to the state trust company and its clients, ...
• Texas Finance Code Section 185.006 - Copy Of Letter Or Order In State Trust Company Records
  A copy of any determination letter, proposed order, emergency order, or final order issued by the banking commissioner under this subchapter shall be immediately brought ...
• Texas Finance Code Section 185.007 - Effect Of Final Removal Or Prohibition Order
  (a) Except as provided by other law, without the prior written approval of the banking commissioner, a person subject to a final and enforceable removal ...
• Texas Finance Code Section 185.008 - Limitation On Action
  The banking commissioner may not initiate an enforcement action under this subchapter later than the fifth anniversary of the date the banking commissioner discovered or ...
• Texas Finance Code Section 185.009 - Enforcement Of Final Order
  (a) If the banking commissioner reasonably believes that a state trust company or person has violated a final and enforceable cease and desist, removal, or ...
• Texas Finance Code Section 185.010 - Administrative Penalty
  (a) The banking commissioner may initiate a proceeding for an administrative penalty against a state trust company by serving on the state trust company notice ...
• Texas Finance Code Section 185.011 - Payment Or Appeal Of Administrative Penalty
  (a) When a penalty order under Section 185.010 becomes final, a state trust company shall pay the penalty or appeal by filing a petition for ...
• Texas Finance Code Section 185.012 - Confidentiality Of Records
  A copy of a notice, correspondence, transcript, pleading, or other document in the records of the department relating to an order issued under this subchapter ...
• Texas Finance Code Section 185.013 - Collection Of Fees
  The banking commissioner may sue to enforce the collection of a fee owed to the department under a law administered by the banking commissioner. In ...
• Texas Finance Code Section 185.101 - Order Of Supervision
  (a) The banking commissioner by order may appoint a supervisor over a state trust company if the banking commissioner determines from examination or other credible ...
• Texas Finance Code Section 185.102 - Order Of Conservatorship
  (a) The banking commissioner by order may appoint a conservator for a state trust company if the banking commissioner determines from examination or other credible ...
• Texas Finance Code Section 185.103 - Hearing
  (a) An order issued under Section 185.101 or 185.102 must contain or be accompanied by a notice that, at the request of the state trust ...
• Texas Finance Code Section 185.104 - Post-Hearing Order
  (a) If after the hearing the banking commissioner finds that the state trust company has been rehabilitated, that its hazardous condition has been remedied, that ...
• Texas Finance Code Section 185.105 - Confidentiality Of Records
  An order issued under this subchapter and a copy of a notice, correspondence, transcript, pleading, or other document in the records of the department relating ...
• Texas Finance Code Section 185.106 - Duties Of State Trust Company Under Supervision
  During a period of supervision, a state trust company, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or ...
• Texas Finance Code Section 185.107 - Powers And Duties Of Conservator
  (a) A conservator appointed under this subchapter shall immediately take charge of the state trust company and all of its property, books, records, and affairs ...
• Texas Finance Code Section 185.108 - Qualifications Of Appointee
  The banking commissioner may appoint as a supervisor or conservator any person who in the judgment of the banking commissioner is qualified to serve. The ...
• Texas Finance Code Section 185.109 - Expenses
  (a) The banking commissioner shall determine and approve the reasonable expenses attributable to the service of a supervisor or conservator, including costs incurred by the ...
• Texas Finance Code Section 185.110 - Review Of Supervisor Or Conservator Decisions
  (a) Notwithstanding Section 185.107(b), a majority of the state trust company's board, acting directly or through counsel who affirmatively represents that the requisite majority has ...
• Texas Finance Code Section 185.111 - Suit Filed Against Or On Behalf Of State Trust Company Under Supervision Or Conservatorship
  (a) A suit filed against a state trust company while the state trust company is under conservatorship, or against a person in connection with an ...
• Texas Finance Code Section 185.112 - Duration
  A supervisor or conservator serves for the period necessary to accomplish the purposes of the supervision or conservatorship as intended by this subchapter. A rehabilitated ...
• Texas Finance Code Section 185.113 - Administrative Election Of Remedies
  The banking commissioner may take any action authorized under Chapter 186 regardless of the existence of supervision or conservatorship. A period of supervision or conservatorship ...
• Texas Finance Code Section 185.114 - Release Before Hearing
  This subchapter does not prevent release of a state trust company from supervision or conservatorship before a hearing if the banking commissioner is satisfied that ...
• Texas Finance Code Section 185.201 - Investigation Of Unauthorized Trust Activity
  (a) If the banking commissioner has reason to believe that a person has engaged, is engaging, or is likely to engage in an unauthorized trust ...
• Texas Finance Code Section 185.202 - Subpoena Authority
  (a) This section applies only to an investigation of an unauthorized trust activity as provided by Section 185.201, and does not affect the conduct of ...
• Texas Finance Code Section 185.203 - Enforcement Of Subpoena
  (a) If necessary, the banking commissioner may apply to a district court in Travis County or in the county in which the subpoena was served ...
• Texas Finance Code Section 185.204 - Confidentiality Of Subpoenaed Records
  (a) A book, account, record, paper, correspondence, or other document subpoenaed and produced under Section 185.202 that is otherwise made privileged or confidential by law ...
• Texas Finance Code Section 185.205 - Evidence
  (a) On certification by the banking commissioner, a book, record, paper, or document produced or testimony taken as provided by Section 185.202 and held by ...
• Texas Finance Code Section 185.206 - Cease And Desist Order Regarding Unauthorized Trust Activity
  (a) The banking commissioner may serve a proposed cease and desist order on a person the banking commissioner believes is engaging or is likely to ...
• Texas Finance Code Section 185.207 - Emergency Cease And Desist Order
  (a) The banking commissioner may issue an emergency cease and desist order to a person who the banking commissioner reasonably believes is engaging in a ...
• Texas Finance Code Section 185.208 - Appeal Of Cease And Desist Order
  (a) A person affected by a cease and desist order issued, affirmed, or modified after a hearing may file a petition for judicial review. (b) ...
• Texas Finance Code Section 185.209 - Violation Of Final Cease And Desist Order
  (a) If the banking commissioner reasonably believes that a person has violated a final and enforceable cease and desist order, the banking commissioner may: (1) ...
• Texas Finance Code Section 185.210 - Administrative Penalty
  (a) The banking commissioner may initiate an action for an administrative penalty against a person for a violation of a cease and desist order by ...
• Texas Finance Code Section 185.211 - Payment And Appeal Of Administrative Penalty
  (a) When an administrative penalty order under Section 185.210 becomes final, a person affected by the order, within the time permitted by law for appeal, ...
• Texas Finance Code Section 185.212 - Judicial Review Of Administrative Penalty
  (a) If on judicial review the court sustains the penalty order, the court shall order the person to pay the full amount of the penalty ...
• Texas Finance Code Section 186.001 - Definition
  In this chapter, "administrative expense" means: (1) an expense designated as an administrative expense by Subchapter C or D; (2) court costs and expenses of ...
• Texas Finance Code Section 186.002 - Remedies Exclusive
  (a) Unless the banking commissioner so requests, a court may not: (1) order the closing or suspension of operation of a state trust company; or ...
• Texas Finance Code Section 186.003 - Federal Deposit Insurance Corporation As Liquidator
  (a) The banking commissioner without court action may tender a state trust company that has been closed for liquidation to the Federal Deposit Insurance Corporation ...
• Texas Finance Code Section 186.004 - Appointment Of Independent Receiver
  (a) On request of the banking commissioner, the court in which a liquidation proceeding is pending may: (1) appoint an independent receiver; and (2) require ...
• Texas Finance Code Section 186.005 - Succession Of Trust Powers
  (a) If a state trust company in the process of voluntary or involuntary dissolution and liquidation is acting as trustee, guardian, executor, administrator, or escrow ...
• Texas Finance Code Section 186.101 - Initiating Voluntary Dissolution
  (a) A state trust company may initiate voluntary dissolution and surrender its charter as provided by this subchapter: (1) with the approval of the banking ...
• Texas Finance Code Section 186.102 - Filing Resolutions With Banking Commissioner
  After resolutions to dissolve and liquidate a state trust company have been adopted by the board and shareholders or participants, a majority of the directors, ...
• Texas Finance Code Section 186.103 - Banking Commissioner Investigation And Consent
  The banking commissioner shall review the documentation submitted under Section 186.102 and conduct any necessary investigation or examination. If the proceedings appear to have been ...
• Texas Finance Code Section 186.104 - Notice Of Pending Dissolution
  (a) A state trust company shall publish notice of its pending dissolution in a newspaper of general circulation in each community where its home office ...
• Texas Finance Code Section 186.105 - Safe Deposits And Other Bailments
  (a) A contract between the state trust company and a person for bailment, of deposit for hire, or for the lease of a safe, vault, ...
• Texas Finance Code Section 186.106 - Offices To Remain Open
  Unless the banking commissioner directs or consents otherwise, the home office and all additional trust offices of a state trust company initiating voluntary dissolution shall ...
• Texas Finance Code Section 186.107 - Fiduciary Activities
  (a) As soon as practicable after publication of the notice of dissolution, the state trust company shall: (1) terminate all fiduciary positions it holds; (2) ...
• Texas Finance Code Section 186.108 - Final Liquidation
  (a) After the state trust company has taken all of the actions specified by Sections 186.102, 186.104, 186.105, and 186.107, paid all its debts and ...
• Texas Finance Code Section 186.109 - Application Of Law To State Trust Company In Dissolution
  A state trust company in the process of voluntary dissolution and liquidation remains subject to this subtitle, including provisions for examination by the banking commissioner, ...
• Texas Finance Code Section 186.110 - Authorization Of Deviation From Procedures
  The banking commissioner may authorize a deviation from the procedures for voluntary dissolution provided by this subchapter if the banking commissioner determines that the interests ...
• Texas Finance Code Section 186.111 - Closure By Banking Commissioner For Involuntary Dissolution And Liquidation
  The banking commissioner may close the state trust company for involuntary dissolution and liquidation under this chapter if the banking commissioner determines that: (1) the ...
• Texas Finance Code Section 186.112 - Application For New Charter
  After a state trust company's charter has been voluntarily surrendered and canceled, the state trust company may not resume business or reopen except on application ...
• Texas Finance Code Section 186.201 - Action To Close State Trust Company
  (a) The banking commissioner may by written order close and liquidate a state trust company on finding that: (1) the interests of its clients and ...
• Texas Finance Code Section 186.202 - Notice And Effect Of Closure; Appointment Of Receiver
  (a) After closing a state trust company under Section 186.201, the banking commissioner shall attach to or otherwise display at its main entrance a copy ...
• Texas Finance Code Section 186.203 - Nature And Duration Of Receivership
  (a) The court may not require a bond from the banking commissioner as receiver. (b) A reference in this chapter to the receiver is a ...
• Texas Finance Code Section 186.204 - Contest Of Liquidation
  (a) A state trust company, acting through a majority of its directors, managers, or managing participants, may intervene in an action filed by the banking ...
• Texas Finance Code Section 186.205 - Notice Of State Trust Company Closing
  (a) As soon as reasonably practicable after initiation of the receivership proceeding, the receiver shall publish notice, in a newspaper of general circulation in each ...
• Texas Finance Code Section 186.206 - Inventory
  As soon as reasonably practicable given the state of state trust company records and the adequacy of staffing, the receiver shall prepare a comprehensive inventory ...
• Texas Finance Code Section 186.207 - Receiver's Title And Priority
  (a) The receiver has the title to all the state trust company's property, contracts, and rights of action, wherever located, beginning on the date the ...
• Texas Finance Code Section 186.208 - Rights Fixed
  The rights and liabilities of the state trust company in liquidation and of a client, creditor, officer, director, manager, managing participant, employee, shareholder, participant, participant-transferee, ...
• Texas Finance Code Section 186.209 - Depositories
  (a) The receiver may deposit money collected on behalf of the state trust company estate in: (1) the Texas Treasury Safekeeping Trust Company in accordance ...
• Texas Finance Code Section 186.210 - Pending Lawsuit
  (a) A judgment or order of a court of this state or of another jurisdiction in an action pending by or against the state trust ...
• Texas Finance Code Section 186.211 - New Lawsuit
  (a) Except as otherwise provided by this section, the court in which a receivership proceeding is pending under this subchapter has exclusive jurisdiction to hear ...
• Texas Finance Code Section 186.212 - Obtaining Record Or Other Property In Possession Of Other Person
  (a) Each state trust company affiliate, officer, director, manager, managing participant, employee, shareholder, participant, participant-transferee, trustee, agent, servant, employee, attorney, attorney-in-fact, or correspondent shall immediately ...
• Texas Finance Code Section 186.213 - Injunction In Aid Of Liquidation
  (a) On application by the receiver, the court with or without notice may issue an injunction: (1) restraining each state trust company officer, director, manager, ...
• Texas Finance Code Section 186.214 - Subpoena
  (a) The receiver may request the court ex parte to issue a subpoena to compel the attendance and testimony of a witness before the receiver ...
• Texas Finance Code Section 186.215 - Executory Contract; Oral Agreement
  (a) Not later than six months after the date the receivership proceeding begins, the receiver may terminate any executory contract to which the state trust ...
• Texas Finance Code Section 186.216 - Preferences
  (a) A transfer of or lien on the property or assets of a state trust company is voidable by the receiver if the transfer or ...
• Texas Finance Code Section 186.217 - Employees Of Receiver
  The receiver may employ agents, legal counsel, accountants, appraisers, consultants, and other personnel the receiver considers necessary to assist in the performance of the receiver's ...
• Texas Finance Code Section 186.218 - Disposal Of Property; Settling Of Claim
  (a) In liquidating a state trust company, the receiver on order of the court entered with or without hearing may: (1) sell all or part ...
• Texas Finance Code Section 186.219 - Court Order; Notice And Hearing
  If the court requires notice and hearing before entering an order, the court shall set the time and place of the hearing and prescribe whether ...
• Texas Finance Code Section 186.220 - Receiver's Reports; Expenses
  (a) The receiver shall file with the court: (1) a quarterly report showing the operation, receipts, expenditures, and general condition of the state trust company ...
• Texas Finance Code Section 186.221 - Court-Ordered Audit
  (a) The court may order an audit of the books and records of the receiver that relate to the receivership. A report of an audit ...
• Texas Finance Code Section 186.222 - Safe Deposits And Other Bailments
  (a) A contract between the state trust company and another person for bailment, of deposit for hire, or for the lease of a safe, vault, ...
• Texas Finance Code Section 186.223 - Fiduciary Activities
  (a) As soon after beginning the receivership proceeding as is practicable, the receiver shall: (1) terminate all fiduciary positions the state trust company holds; (2) ...
• Texas Finance Code Section 186.224 - Disposition And Maintenance Of Records
  (a) On approval by the court, the receiver may dispose of records of the state trust company in liquidation that are obsolete and unnecessary to ...
• Texas Finance Code Section 186.225 - Records Admitted
  (a) A record of a state trust company in liquidation obtained by the receiver and held in the course of the receivership proceeding or a ...
• Texas Finance Code Section 186.226 - Resumption Of Business
  (a) A state trust company closed under Section 186.201 may not be reopened without the approval of the banking commissioner unless a contest of liquidation ...
• Texas Finance Code Section 186.227 - Assets Discovered After Close Of Receivership
  (a) The banking commissioner shall report to the court discovery of an asset having value that: (1) the banking commissioner discovers after the receivership was ...
• Texas Finance Code Section 186.301 - Filing Claim
  (a) This section applies only to a claim by a person, other than a shareholder, participant, or participant-transferee acting in that capacity, who has a ...
• Texas Finance Code Section 186.302 - Proof Of Claim
  (a) A proof of claim must be in writing, be signed by the claimant, and include: (1) a statement of the claim; (2) a description ...
• Texas Finance Code Section 186.303 - Judgment As Proof Of Claim
  (a) A judgment entered against a state trust company in liquidation before the date the state trust company was closed for liquidation may not be ...
• Texas Finance Code Section 186.304 - Secured Claim
  (a) The owner of a secured deposit may file a claim as a creditor against a state trust company in liquidation. The value of security ...
• Texas Finance Code Section 186.305 - Unliquidated Or Undetermined Claim
  (a) A claim based on an unliquidated or undetermined demand shall be filed within the period provided by Subchapter C for the filing of a ...
• Texas Finance Code Section 186.306 - Set-Off
  (a) Mutual credits and mutual debts shall be set off and only the balance allowed or paid, except that a set-off may not be allowed ...
• Texas Finance Code Section 186.307 - Action On Claim
  (a) Not later than six months after the last day permitted for the filing of claims or a later date allowed by the court, the ...
• Texas Finance Code Section 186.308 - Objection To Approved Claim
  The receiver with court approval shall set a deadline for an objection to an approved claim. On or before that date a depositor, creditor, other ...
• Texas Finance Code Section 186.309 - Appeal Of Rejected Claim
  (a) The receiver's rejection of a claim may be appealed in the court in which the receivership proceeding is pending. The appeal must be brought ...
• Texas Finance Code Section 186.310 - Payment Of Claim
  (a) Except as expressly provided otherwise by this subchapter or Subchapter C, without the approval of the court the receiver may not make a payment ...
• Texas Finance Code Section 186.311 - Priority Of Claims Against Insured State Trust Company
  The distribution of assets from the estate of a state trust company the trust deposits of which are insured by the Federal Deposit Insurance Corporation ...
• Texas Finance Code Section 186.312 - Priority Of Claims Against Uninsured State Trust Company
  (a) The priority of distribution of assets from the estate of a state trust company the trust deposits of which are not insured by the ...
• Texas Finance Code Section 186.313 - Excess Assets
  (a) If state trust company assets remain after the receiver has provided for unclaimed distributions and all of the liabilities of the state trust company ...
• Texas Finance Code Section 186.314 - Unclaimed Property
  After completion of the liquidation, any unclaimed property remaining with the receiver shall be delivered to the comptroller as provided by Chapter 74, Property Code. ...
• Texas Finance Code Section 187.001 - Definitions
  (a) In this chapter: (1) "Acquire" means an act that results in direct or indirect control by an out-of-state trust company of a state trust ...
• Texas Finance Code Section 187.002 - Companies Authorized To Conduct A Trust Business
  (a) A company may not conduct a trust business in this state unless the company is a trust institution and is: (1) a state trust ...
• Texas Finance Code Section 187.003 - Interstate Trust Business Of State Trust Company
  Subject to the approval of the banking commissioner pursuant to Section 182.203, a state trust company may engage in the trust business in another state ...
• Texas Finance Code Section 187.004 - Trust Business Of Out-Of-State Trust Company
  (a) An out-of-state trust company that establishes or maintains an office in this state under this chapter may conduct any activity at the office that ...
• Texas Finance Code Section 187.005 - Designation Of Trustee And Governing Law
  (a) Unless another law restricts the designation of trustee, a person residing in this state may designate a trust institution to act as a fiduciary ...
• Texas Finance Code Section 187.006 - Taxation
  An out-of-state trust institution doing business in this state is subject to the franchise tax to the extent provided by Chapter 171, Tax Code. Added ...
• Texas Finance Code Section 187.007 - Severability
  The provisions of this chapter or applications of those provisions are severable as provided by Section 312.013, Government Code. Added by Acts 2001, 77th Leg., ...
• Texas Finance Code Section 187.101 - Trust Offices In This State
  An out-of-state trust company may engage in a trust business at an office in this state only if it establishes and maintains a trust office ...
• Texas Finance Code Section 187.102 - Establishing An Interstate Trust Office
  (a) An out-of-state trust company that does not operate a trust office in this state may not establish and maintain a de novo trust office ...
• Texas Finance Code Section 187.103 - Acquiring An Interstate Trust Office
  (a) An out-of-state trust company that does not operate a trust office in this state and that meets the requirements of this subchapter may acquire ...
• Texas Finance Code Section 187.104 - Requirement Of Notice
  An out-of-state trust company desiring to establish and maintain a de novo trust office or acquire an existing trust institution in this state and to ...
• Texas Finance Code Section 187.105 - Conditions For Approval
  (a) A trust office of an out-of-state trust company may be acquired or established in this state under this subchapter if: (1) the out-of-state trust ...
• Texas Finance Code Section 187.106 - Additional Trust Offices
  An out-of-state trust company that maintains a trust office in this state under this subchapter may establish or acquire additional trust offices or representative trust ...
• Texas Finance Code Section 187.201 - Representative Trust Office Business
  (a) An out-of-state trust institution may establish a representative trust office as permitted by this subchapter to: (1) solicit, but not accept, fiduciary appointments; (2) ...
• Texas Finance Code Section 187.202 - Registration Of Representative Trust Office
  (a) Except as provided by Subsection (e) with respect to a credit union, a savings association, or a savings bank, an out-of-state trust institution that ...
• Texas Finance Code Section 187.301 - Cooperative Agreements; Fees
  (a) To carry out the purposes of this subtitle, the banking commissioner may: (1) enter into cooperative, coordinating, or information sharing agreements with another supervisory ...
• Texas Finance Code Section 187.302 - Examinations; Periodic Reports
  (a) To the extent consistent with Section 187.301, the banking commissioner may make examinations of a trust office or trust representative office established and maintained ...
• Texas Finance Code Section 187.303 - Interpretive Statements And Opinions
  (a) Subject to Subsection (b), to encourage the effective coordination and implementation of home state laws and host state laws with respect to interstate trust ...
• Texas Finance Code Section 187.304 - Confidential Information
  Information obtained directly or indirectly by the banking commissioner relative to the financial condition or business affairs of a trust institution, other than the public ...
• Texas Finance Code Section 187.305 - Enforcement; Appeals
  (a) If the banking commissioner determines that an out-of-state trust company has violated this subtitle or other applicable law of this state, the banking commissioner ...
• Texas Finance Code Section 187.306 - Notice Of Subsequent Event
  Each out-of-state trust company that has established and maintains an office in this state pursuant to this subtitle shall give written notice, at least 30 ...
• Texas Finance Code Section 199.001 - Slander Or Libel Of State Trust Company
  (a) A person commits an offense if the person: (1) knowingly makes, circulates, or transmits to another person an untrue statement that is derogatory to ...
• Texas Finance Code Section 199.002 - Authority To Act As Notary Public
  A notary public is not disqualified from taking an acknowledgment or proof of a written instrument as provided by Section 406.016, Government Code, solely because ...
• Texas Finance Code Section 199.003 - Succession Of Trust Powers
  (a) If, at the time of a merger, reorganization, conversion, sale of substantially all of its assets under Chapter 182 or 187 or other applicable ...
• Texas Finance Code Section 199.004 - Discovery Of Client Records
  Civil discovery of a client record maintained by a trust institution, including a state trust company or a trust institution organized under the laws of ...
• Texas Finance Code Section 199.005 - Compliance Review Committee
  A trust company may establish a compliance review committee as provided by Section 59.009. Added by Acts 1999, 76th Leg., ch. 62, § 7.16(a), eff. ...
• Texas Finance Code Section 201.001 - Scope Of Subtitle
  (a) This subtitle: (1) sets forth the conditions under which a company may acquire a Texas bank or a Texas bank holding company, pursuant to ...
• Texas Finance Code Section 201.002 - Definitions
  (a) Unless the context requires otherwise, in this subtitle: (1) "Acquire" means an act that results in direct or indirect control by a company of ...
• Texas Finance Code Section 201.003 - Rules
  (a) The finance commission may adopt rules to accomplish the purposes of this subtitle, including rules necessary or reasonable to: (1) implement and clarify this ...
• Texas Finance Code Section 201.004 - Law Applicable To Interstate Branches
  (a) The laws of this state apply to an interstate branch located in this state to the same extent the laws of this state would ...
• Texas Finance Code Section 201.005 - Cooperative Agreements; Fees
  (a) To carry out the purposes of this subtitle, to the extent permitted by federal law, the commissioner may: (1) enter into cooperative, coordinating, or ...
• Texas Finance Code Section 201.006 - Issuance Of Interpretive Statements And Opinions
  (a) To encourage the effective coordination and implementation of home state laws and host state laws with respect to interstate branching, the commissioner, directly or ...
• Texas Finance Code Section 201.007 - Confidentiality
  Except as expressly provided otherwise in this subtitle, confidentiality of information obtained by the commissioner under this subtitle is governed by Subchapter D, Chapter 31, ...
• Texas Finance Code Section 201.008 - Notice Of Subsequent Event
  Each out-of-state state bank that has established and maintains an interstate branch in this state pursuant to this subtitle shall give written notice to the ...
• Texas Finance Code Section 201.009 - Enforcement; Appeals
  (a) If the commissioner determines that a bank holding company or a foreign bank has violated this subtitle or other applicable law of this state, ...
• Texas Finance Code Section 201.010 - Taxation
  A bank subject to this subtitle is subject to the franchise tax to the extent provided by Chapter 171, Tax Code. Added by Acts 1999, ...
• Texas Finance Code Section 201.011 - Severability
  The provisions of this subtitle or the applications of those provisions are severable as provided by Section 311.032(c), Government Code. Added by Acts 1999, 76th ...
• Texas Finance Code Section 201.101 - Definitions
  In this subchapter: (1) "Financial institution" means: (A) a bank as defined for any purpose by Section 201.002(a)(4), whether chartered under the laws of this ...
• Texas Finance Code Section 201.102 - Registration To Do Business
  An out-of-state financial institution must file an application for registration with the secretary of state, before operating a branch or other office in this state, ...
• Texas Finance Code Section 201.103 - Appointment Of Agent To Receive Service Of Process
  (a) A Texas financial institution may file in the office of the secretary of state a statement appointing an agent authorized to receive service of ...
• Texas Finance Code Section 202.001 - Acquisition Of Bank Or Bank Holding Company
  (a) A company intending to acquire a Texas bank holding company or a Texas bank shall submit to the commissioner a copy of the application ...
• Texas Finance Code Section 202.002 - Limitation On Control Of Deposits
  (a) The commissioner may not approve an acquisition if, on consummation of the transaction, the applicant, including all depository institution affiliates of the applicant, would ...
• Texas Finance Code Section 202.003 - Required Age Of Acquired Bank
  (a) An out-of-state bank holding company may not make an acquisition under this chapter if the Texas bank to be acquired, or any Texas bank ...
• Texas Finance Code Section 202.004 - Nonbanking Acquisition, Election, Or Activity
  (a) A bank holding company doing business in this state that submits an application, election, or notice to the Board of Governors of the Federal ...
• Texas Finance Code Section 202.005 - Applicable Laws
  (a) The commissioner may: (1) examine a bank holding company that controls a Texas bank to the same extent as if the bank holding company ...
• Texas Finance Code Section 202.006 - Financial Activities
  (a) A financial holding company may engage in a financial activity or an activity incidental or complementary to a financial activity if the activity has ...
• Texas Finance Code Section 203.001 - Interstate Branching By Texas State Banks
  (a) With the prior approval of the commissioner, a Texas state bank may establish and maintain a de novo branch or acquire a branch in ...
• Texas Finance Code Section 203.002 - Conditions For Entry By De Novo Branching
  (a) An out-of-state bank may establish a de novo branch in this state if: (1) the laws of the home state of the out-of-state bank ...
• Texas Finance Code Section 203.003 - Entry By Interstate Merger Transaction
  (a) Subject to Sections 203.004 and 203.005, one or more Texas banks may enter into an interstate merger transaction with one or more out-of-state banks ...
• Texas Finance Code Section 203.004 - Limitation On Control Of Deposits
  (a) An interstate merger transaction is not permitted if, on consummation of the transaction, the resulting bank, including all depository institution affiliates of the resulting ...
• Texas Finance Code Section 203.005 - Required Age Of Acquired Bank
  (a) An out-of-state bank may not acquire a Texas bank in an interstate merger transaction if the Texas bank has not been in existence and ...
• Texas Finance Code Section 203.006 - Additional Branches
  An out-of-state bank that has established or acquired a branch in this state under this chapter may establish or acquire additional branches in this state ...
• Texas Finance Code Section 203.007 - Examinations; Periodic Reports
  (a) The banking commissioner may make examinations of a branch established and maintained in this state pursuant to this chapter by an out-of-state bank as ...
• Texas Finance Code Section 204.001 - Transacting Business
  (a) A foreign bank may not transact business in this state except to the extent permitted by this chapter. (b) Subsection (a) does not prohibit ...
• Texas Finance Code Section 204.002 - Books, Accounts, And Records
  Each Texas state branch, agency, or representative office shall maintain and make available appropriate books, accounts, and records reflecting: (1) all transactions effected by or ...
• Texas Finance Code Section 204.003 - Examination; Fees
  (a) The commissioner may make examinations of a Texas state branch, agency, or representative office as the commissioner considers necessary to determine whether the office ...
• Texas Finance Code Section 204.004 - Reports
  (a) A foreign bank doing business in this state through a Texas state branch, agency, or representative office shall make written reports to the commissioner ...
• Texas Finance Code Section 204.005 - Change Of Control Of Foreign Bank
  A foreign bank licensed to establish and maintain a Texas state branch or agency pursuant to Subchapter B, or which has registered a Texas representative ...
• Texas Finance Code Section 204.006 - Operations In This State Of Banks Owned Or Controlled By Foreign Banks And Other Foreign Persons
  (a) Except as provided in Subsection (b): (1) the laws of this state governing the acquisition or ownership of interests in Texas banks or out-of-state ...
• Texas Finance Code Section 204.007 - Establishment Of Interstate Branch In This State By An Out-Of-State Foreign Bank
  (a) An out-of-state foreign bank may establish an interstate Texas state branch in the same manner as, and subject to the same criteria, standards, conditions, ...
• Texas Finance Code Section 204.008 - Conversion Of Existing Office
  (a) For purposes of this section, foreign bank offices in this state are divided into classes and ranked in ascending order as: (1) representative office; ...
• Texas Finance Code Section 204.101 - Application To Establish Branch Or Agency
  (a) A foreign bank that desires to establish and maintain a Texas state branch or agency shall submit an application to the commissioner. The application ...
• Texas Finance Code Section 204.102 - Hearing And Decision On Application
  (a) After the application is complete and accepted for filing and all required fees and deposits have been paid, the commissioner shall determine from the ...
• Texas Finance Code Section 204.103 - Issuance Of License
  (a) The commissioner shall issue a license to a foreign bank to establish and maintain a Texas state branch or agency if the commissioner finds ...
• Texas Finance Code Section 204.104 - No Concurrent Federal Branch Or Agency
  (a) A foreign bank licensed under this subchapter to establish and maintain a Texas state branch or agency may not concurrently maintain a federal branch ...
• Texas Finance Code Section 204.105 - Powers Of Branch And Agency
  (a) A Texas state branch or agency is subject to this subtitle and other laws of this state applicable to banks as if the Texas ...
• Texas Finance Code Section 204.106 - Application To Act As Fiduciary
  (a) Except as provided by Section 204.105(c)(10), a foreign bank may not act as a fiduciary at a Texas state branch or agency except by ...
• Texas Finance Code Section 204.107 - Filing Of Amendments To Articles Of Incorporation
  If the articles of incorporation of a foreign bank licensed to maintain a Texas state branch or agency are amended, the foreign bank shall promptly ...
• Texas Finance Code Section 204.108 - Amended License For Branch Or Agency
  (a) A foreign bank licensed to establish and maintain a Texas state branch or agency shall apply to the commissioner for an amended license if ...
• Texas Finance Code Section 204.109 - Relocation Of Office
  (a) With the prior written approval of the commissioner, a foreign bank licensed to establish and maintain a Texas state branch or agency may relocate ...
• Texas Finance Code Section 204.110 - Separate Assets
  (a) Each foreign bank licensed to establish and maintain a Texas state branch or agency in this state shall keep the assets of its business ...
• Texas Finance Code Section 204.111 - Disclosure Of Lack Of Deposit Insurance
  Each foreign bank licensed to establish and maintain a Texas state branch or agency shall give notice that deposits and credit balances in the office ...
• Texas Finance Code Section 204.112 - Limitations On Payment Of Interest On Deposits
  A foreign bank licensed to establish and maintain a Texas state branch or agency is subject to the same limitations with respect to the payment ...
• Texas Finance Code Section 204.113 - Pledge Of Assets
  (a) In accordance with rules adopted under this subtitle, a foreign bank licensed to establish and maintain a Texas state branch or agency may be ...
• Texas Finance Code Section 204.114 - Asset Maintenance
  (a) In accordance with rules adopted under this subtitle, a foreign bank licensed to establish and maintain a Texas state branch or agency shall at ...
• Texas Finance Code Section 204.115 - Voluntary Closure Of Branch Or Agency
  (a) A foreign bank licensed to establish and maintain a Texas state branch or agency may not close the office without filing an application with, ...
• Texas Finance Code Section 204.116 - Enforcement
  The commissioner may initiate an enforcement action under Chapter 35 or a proceeding to revoke the license of a Texas state branch or agency if ...
• Texas Finance Code Section 204.117 - Procedure For Revocation
  (a) Notice of a revocation proceeding must: (1) be in the form of a proposed order; (2) be served on the foreign bank by personal ...
• Texas Finance Code Section 204.118 - Immediate Suspension Or Revocation
  (a) If the commissioner finds that any of the factors set forth in Section 204.116 are true with respect to a foreign bank licensed to ...
• Texas Finance Code Section 204.119 - Status Of Revoked License
  Unless stayed by the finance commission or district court that has jurisdiction over an appeal, a final order of the commissioner revoking a license is ...
• Texas Finance Code Section 204.120 - Seizure And Liquidation
  (a) If the commissioner finds that any of the factors set forth in Section 204.116 are true with respect to a foreign bank licensed to ...
• Texas Finance Code Section 204.121 - Dissolution
  (a) If a foreign bank licensed to maintain a Texas state branch or agency in this state is dissolved, has its authority or existence terminated ...
• Texas Finance Code Section 204.201 - Registration Of Representative Office
  (a) A foreign bank may establish a Texas representative office if the foreign bank files with the commissioner a verified statement of registration. A statement ...
• Texas Finance Code Section 204.202 - Place Of Business
  A Texas representative office may engage in the business authorized by this subchapter at each place of business registered with the commissioner. A Texas representative ...
• Texas Finance Code Section 204.203 - Permissible Activities Of Representative Office
  (a) A registered Texas representative office of a foreign bank may: (1) solicit loans and in connection with a loan: (A) assemble credit information about ...
• Texas Finance Code Section 204.204 - Enforcement
  The commissioner may initiate an enforcement action under Chapter 35 or a proceeding to revoke the registration of a representative office if the commissioner by ...
• Texas Finance Code Section 204.205 - Procedure For Revocation
  (a) Notice of a revocation proceeding must: (1) be in the form of a proposed order; (2) be served on the foreign bank by personal ...
• Texas Finance Code Section 204.206 - Effect Of Revoked Registration
  A foreign bank that has had its registration under this subchapter revoked shall cease all activities in this state. Continued activity in this state of ...
• Texas Finance Code Section 204.207 - Dissolution
  (a) If a foreign bank with a registered Texas representative office is dissolved, has its authority or existence terminated or canceled in the jurisdiction of ...
• Texas Finance Code Section 271.001 - Reporting Requirement For Crimes And Suspected Crimes And Currency And Foreign Transactions
  (a) A financial institution that is required to file a report with respect to a transaction in this state under the Currency and Foreign Transactions ...
• Texas Finance Code Section 271.002. REPORTING REQUIREMENT FOR CASH RECEIPTS OF MORE THAN $10,000. (a) A person engaged in a trade or business who, in the course of the trade or business, receives more than $10,000 in one transaction or in two or more related transactions in this state and who is required to file a return under Section 6050I, Internal Revenue Code of 1986 (26 U.S.C. Section 6050I), or 26 C.F.R. Section 1.6050I-1, and their subsequent amendments, shall file a copy of the return with the attorney general. (b) A person who timely files the return described by Subsection (a) with the appropriate federal agency as required by federal law complies with that subsection unless the attorney general: (1) notifies the person that the return is not of a type that is regularly and comprehensively transmitted by the federal agency to the attorney general; and (2) requests that the person provide the attorney general with a copy of the return. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept - 1, 1997
  Amended by Acts 1999, 76th Leg., ch. 344, § 2.029, eff. Sept. 1, 1999. ...
• Texas Finance Code Section 271.003 - Use Of Reported Information
  The attorney general may report a possible violation indicated by analysis of a report or return described by this chapter or information obtained under this ...
• Texas Finance Code Section 271.004 - Failure To Comply With Reporting Requirements; Criminal Penalty
  (a) A person commits an offense if the person: (1) is requested by the attorney general to submit information required by Section 271.001 or 271.002 ...
• Texas Finance Code Section 271.005 - Suppression Of Physical Evidence; Criminal Penalty
  (a) A person commits an offense if the person knowingly suppresses physical evidence connected with information contained in a report or return required by this ...
• Texas Finance Code Section 271.006 - Notification To Target Of Criminal Investigation; Criminal Penalty
  (a) A person commits an offense if the person: (1) is required to submit a report or return under this chapter; and (2) knowingly notifies ...
• Texas Finance Code Section 273.001 - Short Title
  This chapter may be cited as the Texas Savings and Loan Supplemental Fund Act. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 273.002 - Purposes; Liberal Construction
  (a) The purposes of this chapter are to: (1) establish a fund in this state to aid the commissioner in maintaining the solvency of associations ...
• Texas Finance Code Section 273.003 - Definitions
  In this chapter: (1) "Board" means the board of directors of the corporation. (2) "Commissioner" means the savings and loan commissioner. (3) "Corporation" means the ...
• Texas Finance Code Section 273.004 - Exemption From Securities Act
  (a) A security issued by the corporation under this chapter is not considered a "security" under The Securities Act (Article 581-1 et seq., Vernon's Texas ...
• Texas Finance Code Section 273.005 - Security Of Corporation Considered Authorized Investment Of Savings And Loan Association
  A security of the corporation held by a member association is considered an authorized investment of a savings and loan association under state law. Acts ...
• Texas Finance Code Section 273.101 - Creation Of And Membership In Corporation
  (a) The Texas Savings and Loan Supplemental Fund Corporation is a nonprofit legal entity that is supervised by the commissioner. (b) A domestic association is ...
• Texas Finance Code Section 273.102 - Board Of Directors
  (a) The board shall exercise the powers and manage the business and affairs of the corporation. (b) The board consists of: (1) the members of ...
• Texas Finance Code Section 273.103 - Executive Committee
  (a) The plan of operation of the corporation may authorize the board to create an executive committee consisting of three or more directors. (b) An ...
• Texas Finance Code Section 273.104 - Term
  (a) An elected director serves a two-year term and continues to serve until a successor has been elected and qualified. (b) Of the original board ...
• Texas Finance Code Section 273.105 - Board Officers And Personnel
  (a) At the first board meeting after each directors' election, the board shall elect from its membership a presiding officer. (b) The board may appoint ...
• Texas Finance Code Section 273.106 - Vacancy
  (a) The office of a director becomes vacant on the death, resignation, or removal of the director. (b) A resignation must be presented to the ...
• Texas Finance Code Section 273.107 - Removal Of Board Member
  The board may remove an elected director from office by a two-thirds majority vote at a meeting called for that express purpose because the director ...
• Texas Finance Code Section 273.108 - Conflict Of Interest
  A director may not vote or act on a decision intended to directly and specifically affect an association in which the director has a direct ...
• Texas Finance Code Section 273.109 - Compensation; Reimbursement For Expenses
  A director may not receive compensation for serving on the board but is entitled to reimbursement for actual expenses incurred in performing duties as a ...
• Texas Finance Code Section 273.110 - Meetings
  (a) A regular meeting of the board shall be held as determined by the board. (b) A special meeting of the board may be called ...
• Texas Finance Code Section 273.111 - Quorum; Voting
  (a) A quorum of the board consists of not less than a majority of all directors, except that: (1) less than a majority of all ...
• Texas Finance Code Section 273.201 - Plan Of Operation; Amendment
  (a) After the directors have been selected and taken office, the board shall submit to the commissioner a plan of operation the board finds necessary ...
• Texas Finance Code Section 273.202 - Temporary Plan Of Operation
  (a) The commissioner shall prepare and adopt a temporary plan of operation for organization of the corporation until the initial board is selected. The plan ...
• Texas Finance Code Section 273.203 - Powers Of Corporation
  The corporation may, consistent with the purposes of this chapter, exercise the powers of a nonprofit corporation created under the laws of this state, including ...
• Texas Finance Code Section 273.204 - Conditions Under Which Corporation May Exercise Powers And Duties
  The corporation may not exercise a power or perform a duty under Section 273.203 or 273.205 or Subchapter E until the Office of Thrift Supervision ...
• Texas Finance Code Section 273.205 - Consideration For Assistance
  In consideration for assistance provided to a member association under this chapter, the corporation shall receive: (1) an equity interest in the association; or (2) ...
• Texas Finance Code Section 273.206 - Cancellation Of Membership
  The board may cancel the membership of a member association that fails to purchase securities as required by Section 273.301 by the 10th banking day ...
• Texas Finance Code Section 273.207 - Redemption Of Securities
  (a) A member association that surrenders its membership, becomes ineligible for membership, or has its membership canceled may present any security of the corporation it ...
• Texas Finance Code Section 273.208 - Immunity From Liability
  The following persons are not liable for an act or failure to act in the exercise of the person's powers or performance of the person's ...
• Texas Finance Code Section 273.209 - Limitation On Advertisement And Promotion
  A member association may advertise or use for promotional purposes the fact that its assets are protected under this chapter only to the extent and ...
• Texas Finance Code Section 273.210 - Dissolution
  (a) The corporation may be dissolved on: (1) approval of the commissioner; (2) unanimous approval of the board; and (3) approval of two-thirds of the ...
• Texas Finance Code Section 273.211 - Effect Of Dissolution
  (a) On dissolution, money in the primary account shall be used to redeem all securities issued by the corporation and held by a member association. ...
• Texas Finance Code Section 273.301 - Required Purchase Of Securities
  (a) The corporation, acting on the direction of the board under the plan of operation, may require a member association to purchase by a certain ...
• Texas Finance Code Section 273.302 - Amount Of Security Purchase
  The aggregate amount of securities of any type a member association may be required to purchase under Section 273.301 may not exceed an amount equal ...
• Texas Finance Code Section 273.303 - Primary Account
  (a) Money from the sale of the corporation's securities constitutes the primary account of the corporation. (b) Money in the primary account may be invested ...
• Texas Finance Code Section 273.304 - Administrative Account
  The corporation shall establish an administrative account in which the corporation shall deposit earnings, including interest, on the investment of money in the primary account. ...
• Texas Finance Code Section 273.305 - Authorized Expenditures
  (a) The corporation may spend money from the administrative account for the usual business operations of the corporation. (b) On the commissioner's request, the corporation ...
• Texas Finance Code Section 273.306 - Form And Terms Of Security Issue
  The board shall determine the form and terms of, and any other matter not covered by this chapter relating to, each security issue under this ...
• Texas Finance Code Section 273.307 - Allocation Of Security Issue
  The corporation shall allocate each security issue under Section 273.301 ratably among the member associations based on the ratio of each association's total assets on ...
• Texas Finance Code Section 273.308 - Limitation On Issuance Of Securities
  When the balance of the administrative account reaches the greater of $50 million or five percent of the balance of the primary account, the corporation ...
• Texas Finance Code Section 273.401 - General Assistance
  On the commissioner's request and under the commissioner's instruction, the corporation shall assist in the merger, consolidation, conservation, rehabilitation, or supervision of a member association ...
• Texas Finance Code Section 273.402 - Assistance In Transferring Or Disposing Of Property
  The corporation shall make or issue to the appropriate person, with the commissioner's approval, a guaranty or other form of written assurance that is reasonably ...
• Texas Finance Code Section 273.403 - Advance Of Money
  (a) The corporation shall advance money on terms the board may establish to directly aid or to provide special services for a member association under ...
• Texas Finance Code Section 273.404 - Purchase Of Interest In Assets
  (a) The corporation shall purchase from a member association under conservatorship an interest in the association's assets at a price agreed to by the conservator ...
• Texas Finance Code Section 273.405 - Procedure For Merger, Sale Of Control Of, Or Sale Of Assets
  A merger, sale of control, or sale of any of the assets of a member association under conservatorship in aid of which money from an ...
• Texas Finance Code Section 273.501 - Annual Financial Statement
  (a) Not later than April 1 of each year, the board shall submit to the commissioner an audited financial statement for the preceding calendar year, ...
• Texas Finance Code Section 273.502 - Effect Of Membership
  In regulating a savings and loan association, the commissioner may not give preferential treatment to or discriminate against that association solely because that association is ...
• Texas Finance Code Section 273.503 - Amount To Be Spent Before Certification Of Insolvency Of Member Association
  The commissioner must spend the amount prescribed by Section 273.201(a)(7) before certifying a member association to be insolvent. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 273.504 - Fee And Tax Exemption
  The corporation is exempt from fees and taxes imposed by this state or a political subdivision of this state, except a tax imposed on real ...
• Texas Finance Code Section 274.001 - Definitions
  In this chapter: (1) "Bank" has the meaning assigned by Section 2(c), Bank Holding Company Act of 1956 (12 U.S.C. Section 1841(c)) as amended, excluding ...
• Texas Finance Code Section 274.002 - Affiliated Bank
  A bank is affiliated with a subsidiary trust company if more than 50 percent of the bank's voting stock is directly or indirectly owned by ...
• Texas Finance Code Section 274.003 - Subsidiary Trust Company
  An entity is a subsidiary trust company of a bank holding company if: (1) the entity is a: (A) corporation incorporated under Subchapter A, Chapter ...
• Texas Finance Code Section 274.101 - Agreement To Substitute Fiduciaries
  (a) A subsidiary trust company may enter into an agreement with an affiliated bank of the company to substitute the company as fiduciary for the ...
• Texas Finance Code Section 274.102 - Situs Of Account Administration
  The situs of administration of a fiduciary account is the county in this state in which the fiduciary maintains the office that is primarily responsible ...
• Texas Finance Code Section 274.103 - Notice Of Substitution
  (a) Not later than the 91st day before the effective date of a substitution under Section 274.101, the parties to the substitution agreement shall send ...
• Texas Finance Code Section 274.104 - Form Of Notice Of Substitution
  The notice required under Section 274.103 must be in writing and disclose: (1) the effect the substitution of fiduciary will have on the situs of ...
• Texas Finance Code Section 274.105 - Failure To Send Notice Of Substitution; Defective Notice
  (a) If the parties to a substitution agreement under Section 274.101 intentionally fail to send the required notice under Section 274.103, the substitution of the ...
• Texas Finance Code Section 274.106 - Effective Date Of Substitution Of Fiduciaries
  (a) The substitution takes effect on the effective date stated in the substitution agreement unless, not later than the 16th day before the effective date: ...
• Texas Finance Code Section 274.107 - Hearing On Agreement To Substitute Fiduciaries
  (a) A court may deny the substitution if the court, after notice and hearing, determines: (1) if the substitution will not cause a change in ...
• Texas Finance Code Section 274.108 - Subsidiary Trust Company As Substitute Fiduciary
  On the effective date of the substitution as prescribed by Section 274.106, the subsidiary trust company: (1) without the necessity of an instrument of transfer ...
• Texas Finance Code Section 274.109 - Notice Of Change In Situs Of Administration Of Fiduciary Account Following Substitution
  (a) If the fiduciary of a fiduciary account has changed as a result of a substitution agreement under Section 274.101, the substitute fiduciary shall send ...
• Texas Finance Code Section 274.110 - Failure To Send Notice Of Change In Situs Of Administration
  (a) If the substitute fiduciary of a fiduciary account intentionally fails to send the required notice under Section 274.109, the change in the situs of ...
• Texas Finance Code Section 274.111 - Effective Date Of Change In Situs Of Administration Of Fiduciary Account
  (a) A change in the situs of administration takes effect on the effective date stated in the notice under Section 274.109 unless, not later than ...
• Texas Finance Code Section 274.112 - Hearing On Change In Situs Of Administration Of Fiduciary Account
  (a) A court may allow the change in the situs of administration if the court, after notice and hearing, determines that the change is in ...
• Texas Finance Code Section 274.113 - Venue
  (a) An action under this subchapter for a fiduciary account resulting from a decedent's estate or guardianship must be brought in the county provided for ...
• Texas Finance Code Section 274.114 - Subsidiary Trust Company As Successor Fiduciary
  For purposes of qualifying as successor fiduciary under a document creating a fiduciary account or a statute of this state relating to fiduciary accounts, a ...
• Texas Finance Code Section 274.115 - Bond Of Successor Fiduciary
  If an affiliated bank of a subsidiary trust company has given bond to secure performance of its duties and the company qualifies as successor fiduciary, ...
• Texas Finance Code Section 274.116 - Responsibility For Subsidiary Trust Company
  The bank holding company that owns a subsidiary trust company shall file with the commissioner an irrevocable undertaking to be fully responsible for the fiduciary ...
• Texas Finance Code Section 274.201 - Designation Of Affiliated Bank As Fiduciary In Will
  The prospective designation in a will or other instrument of an affiliated bank of a subsidiary trust company as fiduciary is also considered a designation ...
• Texas Finance Code Section 274.202 - Liability Of Affiliated Bank Acting As Fiduciary
  After a substitution of a subsidiary trust company as fiduciary for an affiliated bank of the company, the bank remains liable for any action taken ...
• Texas Finance Code Section 274.203 - Deposit Of Money With Affiliated Bank
  (a) A subsidiary trust company may deposit with an affiliated bank of the company fiduciary money that is being held pending an investment, distribution, or ...
• Texas Finance Code Section 275.001 - Short Title
  This chapter may be cited as the Texas Mutual Trust Investment Company Act. Added by Acts 1999, 76th Leg., ch. 62, § 7.26(a), eff. Sept. ...
• Texas Finance Code Section 275.002 - Definitions
  In this chapter: (1) "Fiduciary institution" means a: (A) state bank with trust powers; (B) national bank with trust powers; or (C) trust company. (2) ...
• Texas Finance Code Section 275.003 - Application Of General Corporation Law
  Except as provided by this chapter, a mutual trust investment company must be incorporated under and is subject to the general corporation laws of this ...
• Texas Finance Code Section 275.004 - Investment Of Corporation Assets
  A mutual trust investment company may invest its assets only in investments in which a trustee may invest under the laws of this state. Added ...
• Texas Finance Code Section 275.051 - Creation Of Mutual Trust Investment Company
  (a) One or more fiduciary institutions may incorporate a mutual trust investment company as provided by this chapter to be a medium for the common ...
• Texas Finance Code Section 275.052 - Incorporators
  (a) To incorporate, a mutual trust investment company must have five or more persons subscribe and acknowledge the company's articles of incorporation. (b) A person ...
• Texas Finance Code Section 275.053 - Contents Of Articles Of Incorporation
  In addition to the information required by the general corporation laws, the articles of incorporation shall state: (1) the name of each fiduciary institution causing ...
• Texas Finance Code Section 275.101 - Directors
  (a) Except as provided by Subsection (b), a mutual trust investment company must have at least five directors, each of whom is not required to ...
• Texas Finance Code Section 275.102 - Audits And Reports
  (a) At least once each year, a mutual trust investment company shall cause an adequate audit to be made of the company by auditors responsible ...
• Texas Finance Code Section 275.151 - Ownership
  The stock of a mutual trust investment company may be owned only by fiduciary institutions acting as fiduciaries and any of their cofiduciaries. Added by ...
• Texas Finance Code Section 275.152 - Registration
  The stock of a mutual trust investment company may be registered in the name of one or more nominees of the owner of the stock. ...
• Texas Finance Code Section 275.153 - Transfer And Assignment
  The stock of a mutual trust investment company may not be transferred except to: (1) the mutual trust investment company; or (2) a fiduciary or ...
• Texas Finance Code Section 275.154 - Ownership By Mutual Trust Investment Company
  A mutual trust investment company may acquire its own stock and shall bind itself, by contract or its bylaws, to acquire its own stock, but ...
• Texas Finance Code Section 275.201 - Purchase By Fiduciary; Authority And Restrictions
  A fiduciary institution, alone or with one or more cofiduciaries, acting as a fiduciary for fiduciary purposes with the consent of any cofiduciaries, may invest ...
• Texas Finance Code Section 275.202 - Responsibility Of Mutual Trust Investment Company
  (a) A mutual trust investment company is not: (1) required to determine the investment powers of a fiduciary that purchases its stock; or (2) liable ...
• Texas Finance Code Section 276.001 - Accounts For Candidates For Public Office
  (a) A financial institution may not open an account in the name of a candidate without obtaining that candidate's consent and signature. This subsection does ...
• Texas Finance Code Section 276.002 - Garnishment Of Financial Institution Account
  (a) Notwithstanding the Texas Rules of Civil Procedure, if a financial institution fails to timely file an answer to a writ of garnishment issued before ...
• Texas Finance Code Section 276.003 - Use Of Proceeds Of Extension Of Credit For Financial Institution Account
  (a) An obligor may use proceeds of an extension of credit made by a financial institution for business, commercial, investment, or similar purposes to establish ...
• Texas Finance Code Section 277.001 - Definitions
  In this chapter: (1) "Business" means a legal entity, including a corporation, partnership, or sole proprietorship, that is formed for the purpose of making a ...
• Texas Finance Code Section 277.002 - Account Information Required
  (a) A financial institution shall require, as a condition of opening or maintaining a business checking account, that the applicant or account holder provide: (1) ...
• Texas Finance Code Section 277.003 - Disclosure Of Information
  (a) A financial institution may not unreasonably withhold the information described by Section 277.002 in response to a written request for the information that: (1) ...
• Texas Finance Code Section 278.001 - Definitions
  In this chapter: (1) "Currency" has the meaning assigned by Section 153.001. (2) "Currency transmission business" means engaging in or offering currency transmission as a ...
• Texas Finance Code Section 278.051 - Disclosures With Transaction
  (a) Other than in a telephonic transaction conducted on a telephone that is not designated for use in currency transmission transactions by a currency transmission ...
• Texas Finance Code Section 278.052 - Cancellation And Refund Of Transaction
  (a) Except as provided by Subsection (c), on receiving the transaction receipt required under Section 278.051, a customer may cancel the currency transaction: (1) before ...
• Texas Finance Code Section 278.053 - Language Of Disclosure
  A currency transmission business shall make the disclosures required by this chapter in English and, if the currency transmission is to a country where Spanish ...
• Texas Finance Code Section 278.101 - Civil Penalty
  (a) A person who knowingly violates this chapter is liable to the state for a civil penalty in an amount not to exceed $1,000 for ...
• Texas Finance Code Section 301.001 - Short Title
  This title may be cited as the Texas Credit Title. Amended by Acts 1999, 76th Leg., ch. 62, § 7.18(a), eff. Sept. 1, 1999. ...
• Texas Finance Code Section 301.002 - Definitions
  (a) In this subtitle: (1) "Contract interest" means interest that an obligor has paid or agreed to pay to a creditor under a written contract ...
• Texas Finance Code Section 302.001 - Contracting For, Charging, Or Receiving Interest Or Time Price Differential; Usurious Interest
  (a) A creditor may contract for, charge, and receive from an obligor interest or time price differential. (b) The maximum rate or amount of interest ...
• Texas Finance Code Section 302.002 - Accrual Of Interest When No Rate Specified
  If a creditor has not agreed with an obligor to charge the obligor any interest, the creditor may charge and receive from the obligor legal ...
• Texas Finance Code Section 302.101 - Determining Rates Of Interest By Spreading
  (a) To determine whether a loan secured in any part by an interest in real property, including a lien, mortgage, or security interest, is usurious, ...
• Texas Finance Code Section 302.102 - Prohibition On Prepayment Penalty
  If the interest rate on a loan for property that is or is to be the residential homestead of the borrower is greater than 12 ...
• Texas Finance Code Section 302.103 - Effect Of Federal Preemption On Late Charges
  On loans subject to 12 U.S.C. Sections 1735f-7 and 1735f-7a, as amended, any late charges assessed are interest that is included in computing the amount ...
• Texas Finance Code Section 302.104 - Loan To Purchase Interest In Entity With Foreign Real Property As Principal Asset
  (a) A loan the proceeds of which are used primarily to purchase an interest in a trust or other entity that has as its principal ...
• Texas Finance Code Section 303.001 - Use Of Ceilings
  (a) Except as provided by Subchapter B, a person may contract for, charge, or receive a rate or amount that does not exceed the applicable ...
• Texas Finance Code Section 303.002 - Weekly Ceiling
  The parties to a written agreement may agree to an interest rate, or in an agreement described by Chapter 345, 347, or 348, an amount ...
• Texas Finance Code Section 303.003 - Computation Of Weekly Ceiling
  (a) The weekly ceiling is computed by: (1) multiplying the auction rate by two; and (2) rounding the result obtained under Subdivision (1) to the ...
• Texas Finance Code Section 303.004 - Monthly Ceiling
  (a) The monthly ceiling may be used as an alternative to the weekly ceiling only for a contract that: (1) provides for a variable rate, ...
• Texas Finance Code Section 303.005 - Computation Of Monthly Ceiling
  (a) The consumer credit commissioner shall compute the monthly ceiling on the first business day of the calendar month in which the rate applies. The ...
• Texas Finance Code Section 303.006 - Quarterly Ceiling
  (a) A written contract, including a contract that involves an open-end account, may, as an alternative to the weekly ceiling, provide for an interest rate ...
• Texas Finance Code Section 303.007 - Annualized Ceiling
  The annualized ceiling may be used as an alternative to the weekly ceiling only for a written contract that involves an open-end account. Added by ...
• Texas Finance Code Section 303.008 - Computation Of Quarterly And Annualized Ceiling
  (a) On December 1, March 1, June 1, and September 1 of each year, the consumer credit commissioner shall compute the quarterly ceiling and annualized ...
• Texas Finance Code Section 303.009 - Maximum And Minimum Weekly, Monthly, Quarterly, Or Annualized Ceiling
  (a) If the rate computed for the weekly, monthly, quarterly, or annualized ceiling is less than 18 percent a year, the ceiling is 18 percent ...
• Texas Finance Code Section 303.010 - Computation Of Ceiling If Information Unavailable
  If any of the information required to compute a ceiling is discontinued or is otherwise not available to the consumer credit commissioner from the Federal ...
• Texas Finance Code Section 303.011 - Publication Of Rate Ceilings
  (a) The consumer credit commissioner shall send the rate ceilings computed under this subchapter to the secretary of state for publication in the Texas Register. ...
• Texas Finance Code Section 303.012 - Judicial Notice
  A court may take judicial notice of interpretations issued by the consumer credit commissioner or information published in the Texas Register under Section 303.011. Added ...
• Texas Finance Code Section 303.013 - Determination Of Ceiling For Contract To Renew Or Extend Debt Payment
  The rate ceiling for a contract to renew or extend the terms of payment of a debt is the ceiling in effect under this chapter ...
• Texas Finance Code Section 303.014 - Rate For Lender Credit Card Agreement With Merchant Discount
  On an amount owed for a credit card transaction under a lender credit card agreement that imposes or allows the creditor to receive a merchant ...
• Texas Finance Code Section 303.015 - Variable Rate
  (a) The parties to a contract, including a contract for an open-end account, may agree to any index, formula, or provision of law by which ...
• Texas Finance Code Section 303.016 - Charging Of Rate Lower Than Agreed Rate
  A creditor may charge an interest rate or amount of time price differential that is lower than the rate or amount agreed to in the ...
• Texas Finance Code Section 303.017 - Various Charges On Consumer Loans Made By Particular Lenders
  Notwithstanding Section 342.005, a bank, savings association, savings bank, or credit union making a loan primarily for personal, family, or household use under authority of ...
• Texas Finance Code Section 303.101 - Open-End Account: Ceilings
  (a) To use the quarterly or annualized ceiling for setting the interest rate on current and future open-end account balances, the agreement must provide for ...
• Texas Finance Code Section 303.102 - Variable Rate Open-End Account: Ceilings
  The applicable rate ceiling for an open-end account agreement that provides for a variable rate or amount according to an index, formula, or provision of ...
• Texas Finance Code Section 303.103 - Open-End Account: Change Of Agreement Term
  (a) An agreement covering an open-end account may provide that the creditor may change the terms of the agreement for current and future balances of ...
• Texas Finance Code Section 303.104 - Disclosure Of Decrease In Interest Rate Not Required On Open-End Accounts Involving Credit Card Transaction Or Merchant Discount
  On an open-end account authorized under Section 342.455 or 346.003, in connection with which credit card transactions are authorized or a merchant discount is imposed ...
• Texas Finance Code Section 303.105 - Open-End Account: Disclosure Of Certain Rate Variations
  (a) Except as provided by Subsection (b), a variation in an interest rate on an account resulting from operation of the previously disclosed index, formula, ...
• Texas Finance Code Section 303.106 - Open-End Account: Ceiling For Plan Or Arrangement
  If a creditor implements a quarterly or annualized ceiling for a majority of the creditor's open-end accounts that are under a particular plan or arrangement ...
• Texas Finance Code Section 303.201 - License Required
  A person engaged in the business of making loans for personal, family, or household use for which the rate is authorized under this chapter must ...
• Texas Finance Code Section 303.202 - Applicability Of Subtitle B
  Except as inconsistent with this chapter: (1) a person engaged in the business of extending open-end credit primarily for personal, family, or household use and ...
• Texas Finance Code Section 303.203 - Automobile Club Membership Offered In Connection With A Loan
  (a) A lender may, at the time or after a loan is made, offer to sell to the borrower and finance in the loan contract ...
• Texas Finance Code Section 303.301 - Agreement To Which Chapter Does Not Apply
  The rate ceilings provided by this chapter do not apply to an agreement: (1) under which credit is extended by the seller, or an owner, ...
• Texas Finance Code Section 303.302 - Requirements Inconsistent With Federal Law
  (a) A person is not required to comply with a disclosure or notice requirement of this chapter that is inconsistent with federal statute or regulation. ...
• Texas Finance Code Section 303.401 - When Act Or Omission Not Violation
  An act or omission does not violate this title if the act or omission conforms to an interpretation of this title that is in effect ...
• Texas Finance Code Section 303.402 - Penalty For Violation Of Chapter For Certain Contracts Subject To Subtitle B
  (a) A person who contracts for, charges, or receives under a contract subject to Chapter 342, 345, 346, 347, or 348, including a contract for ...
• Texas Finance Code Section 303.403 - Penalty For Violation Of Ceiling In Certain Contracts
  A written contract, other than a contract to which Section 303.402 applies, that directly or indirectly provides for a rate that exceeds the rate authorized ...
• Texas Finance Code Section 303.404 - Enforcement By Consumer Credit Commissioner
  Subject to Subchapter B, Chapter 341, the consumer credit commissioner shall enforce Subtitles B and C as they apply to contracts subject to those chapters. ...
• Texas Finance Code Section 303.405 - Examination Of Records; Inspections; Rules
  (a) Section 342.552 applies to a transaction: (1) that is made by a person who holds a license under Chapter 342; (2) that is subject ...
• Texas Finance Code Section 303.406 - Enforcement By Credit Union Commissioner
  The credit union commissioner shall enforce this chapter as it applies to contracts subject to Subtitle D, Title 3. Amended by Acts 1999, 76th Leg., ...
• Texas Finance Code Section 303.407 - Enforcement By Texas Department Of Insurance
  The Texas Department of Insurance shall enforce this chapter as it applies to contracts subject to Chapter 651, Insurance Code. Added by Acts 1999, 76th ...
• Texas Finance Code Section 303.501 - Applicability Of Credit Union Act
  Except as inconsistent with this chapter: (1) a person subject to Subtitle D, Title 3, who contracts for, charges, or receives a rate or amount ...
• Texas Finance Code Section 303.502 - Applicability Of Chapter 24, Insurance Code
  (a) Except as inconsistent with this chapter: (1) a person subject to Chapter 651, Insurance Code, who contracts for, charges, or receives an interest rate ...
• Texas Finance Code Section 304.001 - Interest Rate Required In Judgment
  A money judgment of a court in this state must specify the postjudgment interest rate applicable to that judgment. Amended by Acts 1999, 76th Leg., ...
• Texas Finance Code Section 304.002 - Judgment Interest Rate: Interest Rate Or Time Price Differential In Contract
  A money judgment of a court of this state on a contract that provides for interest or time price differential earns postjudgment interest at a ...
• Texas Finance Code Section 304.003 - Judgment Interest Rate: Interest Rate Or Time Price Differential Not In Contract
  (a) A money judgment of a court of this state to which Section 304.002 does not apply, including court costs awarded in the judgment and ...
• Texas Finance Code Section 304.004 - Publication Of Judgment Interest Rate
  The consumer credit commissioner shall send to the secretary of state the postjudgment interest rate for publication, and the secretary shall publish the rate in ...
• Texas Finance Code Section 304.005 - Accrual Of Judgment Interest
  (a) Except as provided by Subsection (b), postjudgment interest on a money judgment of a court in this state accrues during the period beginning on ...
• Texas Finance Code Section 304.006 - Compounding Of Judgment Interest
  Postjudgment interest on a judgment of a court in this state compounds annually. Amended by Acts 1999, 76th Leg., ch. 62, § 7.18(a), eff. Sept. ...
• Texas Finance Code Section 304.007 - Judicial Notice Of Judgment Interest Rate
  A court of this state shall take judicial notice of a published postjudgment interest rate. Amended by Acts 1999, 76th Leg., ch. 62, § 7.18(a), ...
• Texas Finance Code Section 304.101 - Applicability Of Subchapter
  This subchapter applies only to a wrongful death, personal injury, or property damage case of a court of this state. Amended by Acts 1999, 76th ...
• Texas Finance Code Section 304.102 - Prejudgment Interest Required In Certain Cases
  A judgment in a wrongful death, personal injury, or property damage case earns prejudgment interest. Amended by Acts 1999, 76th Leg., ch. 62, § 7.18(a), ...
• Texas Finance Code Section 304.103 - Prejudgment Interest Rate For Wrongful Death, Personal Injury, Or Property Damage Case
  The prejudgment interest rate is equal to the postjudgment interest rate applicable at the time of judgment. Amended by Acts 1999, 76th Leg., ch. 62, ...
• Texas Finance Code Section 304.104 - Accrual Of Prejudgment Interest
  Except as provided by Section 304.105 or 304.108, prejudgment interest accrues on the amount of a judgment during the period beginning on the earlier of ...
• Texas Finance Code Section 304.1045 - Future Damages
  Prejudgment interest may not be assessed or recovered on an award of future damages. Added by Acts 2003, 78th Leg., ch. 204, § 6.02, eff. ...
• Texas Finance Code Section 304.105 - Effect Of Settlement Offer On Accrual Of Prejudgment Interest
  (a) If judgment for a claimant is equal to or less than the amount of a settlement offer of the defendant, prejudgment interest does not ...
• Texas Finance Code Section 304.106 - Settlement Offer Requirements To Prevent Prejudgment Interest Accrual
  To prevent the accrual of prejudgment interest under this subchapter, a settlement offer must be in writing and delivered to the claimant or the claimant's ...
• Texas Finance Code Section 304.107 - Value Of Settlement Offer For Computing Prejudgment Interest
  If a settlement offer does not provide for cash payment at the time of settlement, the amount of the settlement offer for the purpose of ...
• Texas Finance Code Section 304.201 - Prejudgment Interest Rate For Condemnation Case
  The prejudgment interest rate in a condemnation case is equal to the postjudgment interest rate at the time of judgment and is computed as simple ...
• Texas Finance Code Section 304.301 - Exception For Delinquent Taxes
  This chapter does not apply to a judgment: (1) in favor of a taxing unit in a delinquent tax suit under Subchapter C, Chapter 33, ...
• Texas Finance Code Section 304.302 - Exception For Delinquent Child Support
  This chapter does not apply to interest that accrues on an amount of unpaid child support under Section 157.265, Family Code. Amended by Acts 1999, ...
• Texas Finance Code Section 305.001 - Liability For Usurious Interest
  (a) A creditor who contracts for, charges, or receives interest that is greater than the amount authorized by this subtitle in connection with a transaction ...
• Texas Finance Code Section 305.002 - Additional Liability For More Than Twice Authorized Rate Of Interest
  (a) In addition to the amount determined under Section 305.001, a creditor who charges and receives interest that is greater than twice the amount authorized ...
• Texas Finance Code Section 305.003 - Liability For Usurious Legal Interest
  (a) A creditor who charges or receives legal interest that is greater than the amount authorized by this subtitle is liable to the obligor for ...
• Texas Finance Code Section 305.004 - Additional Liability For More Than Twice Authorized Rate Of Legal Interest
  (a) In addition to the amount determined under Section 305.003, a creditor who charges and receives legal interest that is greater than twice the amount ...
• Texas Finance Code Section 305.005 - Attorney's Fees
  A creditor who is liable under Section 305.001 or 305.003 is also liable to the obligor for reasonable attorney's fees set by the court. Amended ...
• Texas Finance Code Section 305.006 - Limitation On Filing Suit
  (a) An action under this chapter must be brought within four years after the date on which the usurious interest was contracted for, charged, or ...
• Texas Finance Code Section 305.007 - Penalties Exclusive
  The penalties provided by this chapter are the only penalties for violation of this subtitle for contracting for, charging, or receiving interest in an amount ...
• Texas Finance Code Section 305.008 - Criminal Penalty
  (a) A person commits an offense if the person contracts for, charges, or receives interest on a transaction for personal, family, or household use that ...
• Texas Finance Code Section 305.101 - Accidental And Bona Fide Error
  A creditor is not subject to penalty under this chapter for any usurious interest that results from an accidental and bona fide error. Amended by ...
• Texas Finance Code Section 305.102 - Legal Interest During Interest-Free Period
  A person is not liable to an obligor solely because the person charges or receives legal interest before the 30th day after the date on ...
• Texas Finance Code Section 305.103 - Correction Of Violation
  (a) A creditor is not liable to an obligor for a violation of this subtitle if: (1) not later than the 60th day after the ...
• Texas Finance Code Section 305.104 - Correction Exception Available To All Similarly Situated
  If in a single transaction more than one creditor may be liable for a violation of this subtitle, compliance with Section 305.103 by any of ...
• Texas Finance Code Section 305.105 - Amounts Payable Pursuant To A Final Judgment
  A creditor is not liable to an obligor for a violation of this subtitle if the creditor receives interest that has been awarded pursuant to ...
• Texas Finance Code Section 306.001 - Definitions
  In this chapter: (1) "Account purchase transaction" means an agreement under which a person engaged in a commercial enterprise sells accounts, instruments, documents, or chattel ...
• Texas Finance Code Section 306.002 - Interest; Application Of Other Provisions Of Subtitle
  (a) A creditor may contract for, charge, and receive from an obligor on a commercial loan a rate or amount of interest that does not ...
• Texas Finance Code Section 306.003 - Computation Of Term
  A creditor and an obligor may agree to compute the term and rate of a commercial loan based on a 360-day year consisting of 12 ...
• Texas Finance Code Section 306.004 - Determining Rates Of Interest By Spreading
  (a) To determine whether a commercial loan is usurious, the interest rate is computed by amortizing or spreading, using the actuarial method during the stated ...
• Texas Finance Code Section 306.005 - Prepayment Premiums And Similar Amounts
  With respect to a loan subject to this chapter, a creditor and an obligor may agree to a prepayment premium, make-whole premium, or similar fee ...
• Texas Finance Code Section 306.006 - Certain Authorized Charges On Commercial Loans
  In addition to the interest authorized by this chapter, the parties to a commercial loan may agree and stipulate for: (1) a delinquency charge on ...
• Texas Finance Code Section 306.007 - Guaranty, Assumption, Payment, Or Other Agreement
  With respect to a commercial loan, an obligor may be required to assume, pay, or provide a guaranty of another person's existing or future obligation ...
• Texas Finance Code Section 306.101 - Qualified Commercial Loan
  (a) The parties to a qualified commercial loan agreement may contract for a rate or amount of interest that does not exceed the applicable rate ...
• Texas Finance Code Section 306.102 - Asset-Backed Securities Transaction
  An amount that is paid, passed through, or obligated to be paid or to be passed through in connection with asset-backed securities or that is ...
• Texas Finance Code Section 306.103 - Account Purchase Transaction
  (a) An amount of a discount in, or charged under, an account purchase transaction is not interest. (b) For the purposes of this chapter, the ...
• Texas Finance Code Section 307.001 - Definitions
  In this chapter: (1) "Collateral" means property pledged or used to secure payment, repayment, or performance under a credit or lease agreement, including personal property, ...
• Texas Finance Code Section 307.051 - Collateral Protection Insurance
  (a) Collateral protection insurance is insurance coverage that: (1) is purchased by a creditor after the date of a credit agreement; (2) provides monetary protection ...
• Texas Finance Code Section 307.052 - Creditor Duties
  (a) A creditor who requires collateral protection insurance that is paid for directly or indirectly by a debtor may place collateral protection insurance if: (1) ...
• Texas Finance Code Section 307.053 - Amortization Of Debt
  If any form of amortization is used by the creditor, the creditor shall send to each debtor notice of the terms of the amortization and ...
• Texas Finance Code Section 307.054 - Cancellation Of Collateral Protection Insurance
  A debtor may at any time cause the cancellation of collateral protection insurance by providing proper evidence to the creditor that the debtor has obtained ...
• Texas Finance Code Section 307.055 - Refund Of Unearned Premiums
  (a) On the date the collateral protection insurance is canceled or expires, the amount of unearned premiums, as computed by the Texas Automobile Rules and ...
• Texas Finance Code Section 307.056 - Choice Of Carrier
  Collateral protection insurance may be placed with an insurer that is authorized to write insurance in this state or an eligible surplus lines insurer selected ...
• Texas Finance Code Section 307.057 - Creditor Liability
  (a) A creditor, its insurer, or the insurer's agent that places collateral protection insurance in substantial compliance with the terms of this chapter is not ...
• Texas Finance Code Section 307.058 - Rights Of Creditor And Debtor
  (a) The obligations and rights of the creditor and debtor with respect to the collateral under Chapters 1 through 9, Business & Commerce Code, are ...
• Texas Finance Code Section 308.001 - Applicability
  This chapter applies to a person regularly engaged in the business of extending credit under this subtitle primarily for personal, family, or household use and ...
• Texas Finance Code Section 308.002 - False, Misleading, Or Deceptive Advertising
  (a) A creditor may not, in any manner, advertise or cause to be advertised a false, misleading, or deceptive statement or representation relating to a ...
• Texas Finance Code Section 308.003 - No Double Liability Or Enforcement For Same Act Or Practice
  A judgment, consent decree, assurance of compliance, or other resolution of a claimed violation asserted by a federal agency under the Consumer Credit Protection Act ...
• Texas Finance Code Section 339.001 - Imposition Of Surcharge For Use Of Credit Card
  (a) In a sale of goods or services, a seller may not impose a surcharge on a buyer who uses a credit card for an ...
• Texas Finance Code Section 339.002 - Billing Cycle Interest Limitation On Open-End Account Without Merchant Discount
  (a) This section applies to an open-end account agreement that provides for credit card transactions: (1) in which the creditor relies on one of the ...
• Texas Finance Code Section 339.003 - Sale Of Open-End Account Without Merchant Discount
  A seller or lessor may sell an open-end account credit agreement described by Section 339.002(a) or any balance under that agreement to a purchaser who ...
• Texas Finance Code Section 339.004 - Application Of Licensing Requirement And Subtitle B To Credit Union Or Employee Benefit Plan
  (a) A credit union is not subject to Subtitle B and is not required to obtain a license under this title. (b) With respect to ...
• Texas Finance Code Section 339.005 - Applicability Of Certain Federal Law
  This title does not override or restrict the applicability of 12 U.S.C. Section 1735f-7a. Added by Acts 2001, 77th Leg., ch. 916, § 9, eff. ...
• Texas Finance Code Section 341.001 - Definitions
  In this subtitle: (1) "Authorized lender" means a person who holds a license issued under Chapter 342, a bank, or a savings association. (2) "Bank" ...
• Texas Finance Code Section 341.002 - Computation Of Month
  (a) For the computation of time in this subtitle, a month is the period from a date in a month to the corresponding date in ...
• Texas Finance Code Section 341.101 - Consumer Credit Commissioner
  The consumer credit commissioner has the powers and shall perform all duties relating to the issuance of a license under this subtitle and is responsible ...
• Texas Finance Code Section 341.102 - Regulation Of Banks
  (a) The banking commissioner shall enforce this subtitle relating to the regulation of a state bank operating under this subtitle. (b) The official exercising authority ...
• Texas Finance Code Section 341.103 - Regulation Of Savings Associations
  (a) The savings and loan commissioner shall enforce this subtitle relating to the regulation of state savings associations operating under this subtitle. (b) The official ...
• Texas Finance Code Section 341.104 - Regulation Of Credit Unions
  (a) The credit union commissioner shall enforce this subtitle relating to the regulation of state credit unions operating under this subtitle. (b) The official exercising ...
• Texas Finance Code Section 341.201 - Definitions Of Indexes
  In this subchapter: (1) "Consumer price index" means the Consumer Price Index for Urban Wage Earners and Clerical Workers: U.S. City Average, All Items, 1967=100, ...
• Texas Finance Code Section 341.202 - Revision Of Ceiling Or Bracket
  (a) Each year the commissioner shall compute, in accordance with Section 341.203, the amount of each: (1) ceiling on a cash advance regulated under this ...
• Texas Finance Code Section 341.203 - Computation Of Revised Ceiling Or Bracket
  (a) The amount of a revised ceiling or bracket is computed by: (1) dividing the reference base index into the consumer price index at the ...
• Texas Finance Code Section 341.204 - Publication Of Revised Ceiling, Bracket, Or Index Information
  (a) The commissioner shall send the amount of a revised ceiling or bracket computed under Section 341.203 to the secretary of state for publication in ...
• Texas Finance Code Section 341.301 - Information About Advertisers
  (a) In each advertisement that purports to offer credit regulated by this subtitle, Subtitle C, or Chapter 394, the advertiser shall disclose the legal or ...
• Texas Finance Code Section 341.401 - Discrimination Prohibited
  (a) An authorized lender or other person involved in a transaction subject to this title may not deny to an individual who has the capacity ...
• Texas Finance Code Section 341.402 - Penalties For Prohibited Discrimination
  (a) A person who violates Section 341.401 is liable to the aggrieved individual for: (1) the actual damages caused by the violation; (2) punitive damages ...
• Texas Finance Code Section 341.403 - False, Misleading, Or Deceptive Advertising
  (a) A person may not, in any manner, advertise or cause to be advertised a false, misleading, or deceptive statement or representation relating to a ...
• Texas Finance Code Section 341.404 - Prohibited Acts Relating To A Loan
  A person may not perform an act, including advertising, or offer a service that would cause another to believe that the person is offering to ...
• Texas Finance Code Section 341.405 - Penalty For Making Illegal Offer
  (a) A person commits an offense if the person violates Section 341.404. An offense under that section is a Class C misdemeanor. (b) A person ...
• Texas Finance Code Section 341.406 - When Act Or Omission Not Violation
  An act or omission does not violate this title if the act or omission conforms to: (1) Subchapter C; (2) a provision determined by the ...
• Texas Finance Code Section 341.501 - Staggered Renewal
  The finance commission by rule may adopt a system under which licenses under this subtitle expire on various dates during the year. For the year ...
• Texas Finance Code Section 341.502 - Form Of Loan Contract And Related Documents
  (a) A contract for a loan under Chapter 342, a retail installment transaction under Chapter 348, or a home equity loan regulated by the Office ...
• Texas Finance Code Section 342.001 - Definitions
  In this chapter: (1) "Irregular transaction" means a loan: (A) that is payable in installments that are not consecutive, monthly, and substantially equal in amount; ...
• Texas Finance Code Section 342.002 - Interest Computation Methods
  (a) The scheduled installment earnings method is a method to compute an interest charge by applying a daily rate to the unpaid balance of the ...
• Texas Finance Code Section 342.003 - Purchase From Mortgagee
  For the purposes of this chapter, a purchase from a mortgagee of an interest in a secondary mortgage loan that was made to secure that ...
• Texas Finance Code Section 342.004 - Constitutional Interest; Exemption For Loan With Interest Rate Of 10 Percent Or Less
  (a) Except as otherwise fixed by law, the maximum rate of interest is 10 percent a year. (b) A loan providing for a rate of ...
• Texas Finance Code Section 342.005 - Applicability Of Chapter
  Except as provided by Sections 302.001(d) and 342.004(c), a loan is subject to this chapter if the loan: (1) provides for interest in excess of ...
• Texas Finance Code Section 342.006 - Exemption For Certain Secondary Mortgage Loans
  This chapter does not apply to a secondary mortgage loan made by a seller of property to secure all or part of the unpaid purchase ...
• Texas Finance Code Section 342.007 - Deferred Presentment Transaction
  The finance commission shall adopt rules providing for the regulation of deferred presentment transactions. Added by Acts 2001, 77th Leg., ch. 1235, § 13, eff. ...
• Texas Finance Code Section 342.008 - Attempt To Evade Law
  A person who is a party to a deferred presentment transaction may not evade the application of this subtitle or a rule adopted under this ...
• Texas Finance Code Section 342.009 - Return Of Property In Sale-Leaseback Transaction
  The seller in a sale-leaseback agreement may terminate the agreement at any time by returning the property to the buyer in substantially the same condition ...
• Texas Finance Code Section 342.051 - License Required
  (a) A person must hold a license issued under this chapter to: (1) engage in the business of making, transacting, or negotiating loans subject to ...
• Texas Finance Code Section 342.052 - Issuance Of More Than One License For A Person
  (a) The commissioner may issue more than one license to a person on compliance with this chapter for each license. (b) A person who is ...
• Texas Finance Code Section 342.053 - Area Of Business; Loans By Mail
  (a) A lender is not limited to making loans to residents of the community in which the office for which the license or other authority ...
• Texas Finance Code Section 342.101 - Application Requirements
  (a) The application for a license under this chapter must: (1) be under oath; (2) give the approximate location from which business is to be ...
• Texas Finance Code Section 342.102 - Bond
  (a) If the commissioner requires, an applicant for a license under this chapter shall file with the application a bond that is: (1) in an ...
• Texas Finance Code Section 342.103 - Investigation Of Application
  On the filing of an application and, if required, a bond, and on payment of the required fees, the commissioner shall conduct an investigation to ...
• Texas Finance Code Section 342.104 - Approval Or Denial Of Application
  (a) The commissioner shall approve the application and issue to the applicant a license to make loans under this chapter if the commissioner finds that: ...
• Texas Finance Code Section 342.105 - Disposition Of Fees On Denial Of Application
  If the commissioner denies the application, the commissioner shall retain the investigation fee and shall return to the applicant the license fee submitted with the ...
• Texas Finance Code Section 342.151 - Name And Place On License
  (a) A license must state: (1) the name of the license holder; and (2) the address of the office from which the business is to ...
• Texas Finance Code Section 342.152 - License Display
  A license holder shall display a license at the place of business provided on the license. Amended by Acts 1999, 76th Leg., ch. 62, § ...
• Texas Finance Code Section 342.153 - Minimum Assets For License
  (a) Except as provided by Subsection (b) or (c), a license holder shall maintain for each office for which a license is held net assets ...
• Texas Finance Code Section 342.154 - Annual License Fee
  Not later than December 1, a license holder shall pay to the commissioner for each license held an annual fee for the year beginning the ...
• Texas Finance Code Section 342.155 - Expiration Of License On Failure To Pay Annual Fee
  If the annual fee for a license is not paid before the 16th day after the date on which the written notice of delinquency of ...
• Texas Finance Code Section 342.156 - License Suspension Or Revocation
  After notice and a hearing the commissioner may suspend or revoke a license if the commissioner finds that: (1) the license holder failed to pay ...
• Texas Finance Code Section 342.157 - Corporate Charter Forfeiture
  (a) A license holder who violates this chapter is subject to revocation of the holder's license and, if the license holder is a corporation, forfeiture ...
• Texas Finance Code Section 342.158 - License Suspension Or Revocation Filed With Public Records
  The decision of the commissioner on the suspension or revocation of a license and the evidence considered by the commissioner in making the decision shall ...
• Texas Finance Code Section 342.159 - Reinstatement Of Suspended License; Issuance Of New License After Revocation
  The commissioner may reinstate a suspended license or issue a new license on application to a person whose license has been revoked if at the ...
• Texas Finance Code Section 342.160 - Surrender Of License
  A license holder may surrender a license issued under this chapter by delivering to the commissioner: (1) the license; and (2) a written notice of ...
• Texas Finance Code Section 342.161 - Effect Of License Suspension, Revocation, Or Surrender
  (a) The suspension, revocation, or surrender of a license issued under this chapter does not affect the obligation of a contract between the license holder ...
• Texas Finance Code Section 342.162 - Moving An Office
  (a) A license holder shall give written notice to the commissioner before the 30th day preceding the date the license holder moves an office from ...
• Texas Finance Code Section 342.163 - Transfer Or Assignment Of License
  A license may be transferred or assigned only with the approval of the commissioner. Amended by Acts 1999, 76th Leg., ch. 62, § 7.19(a), eff. ...
• Texas Finance Code Section 342.201 - Maximum Interest Charge
  (a) A loan contract under this chapter that is a regular transaction and is not secured by real property may provide for an interest charge ...
• Texas Finance Code Section 342.202 - Maximum Charge For Loan With Single Repayment
  A loan contract that exceeds the maximum cash advance under Section 342.251 and that is payable in a single installment may provide for an interest ...
• Texas Finance Code Section 342.203 - Additional Interest For Default: Regular Transaction
  (a) A loan contract that includes precomputed interest or uses the scheduled installment earnings method and that is a regular transaction may provide for additional ...
• Texas Finance Code Section 342.204 - Additional Interest For Installment Deferment: Regular Transaction
  (a) On a loan contract that includes precomputed interest or uses the scheduled installment earnings method and that is a regular transaction, an authorized lender ...
• Texas Finance Code Section 342.205 - Collection Of Default Or Deferment Interest
  Interest for default under Section 342.203 or for installment deferment under Section 342.204 may be collected when it accrues or at any time after it ...
• Texas Finance Code Section 342.206 - Additional Interest For Default: Irregular Transaction
  (a) A loan contract that includes precomputed interest and that is an irregular transaction may provide for additional interest for default using the true daily ...
• Texas Finance Code Section 342.251 - Maximum Cash Advance
  The maximum cash advance of a loan made under this subchapter is an amount computed under Subchapter C, Chapter 341, using the reference base amount ...
• Texas Finance Code Section 342.252 - Alternate Interest Charge
  Instead of the charges authorized by Section 342.201, a loan contract may provide for: (1) on a cash advance of less than $30, an acquisition ...
• Texas Finance Code Section 342.253 - Maximum Interest Charge For Loan With Single Repayment
  A loan contract to which Section 342.251 applies and that is payable in a single installment may provide for an acquisition charge and an interest ...
• Texas Finance Code Section 342.254 - No Other Charges Authorized
  (a) On a loan made under this subchapter a lender may not contract for, charge, or receive an amount unless this subchapter authorizes the amount ...
• Texas Finance Code Section 342.255 - Maximum Loan Term
  The maximum term of a loan made under this subchapter is: (1) for a loan of $100 or less, the lesser of: (A) one month ...
• Texas Finance Code Section 342.256 - Refund
  (a) An acquisition charge authorized under Section 342.252(1), (2), or (3) is considered to be earned at the time a loan is made and is ...
• Texas Finance Code Section 342.257 - Default Charge; Deferment Of Payment
  The provisions of Subchapter E relating to additional interest for default and additional interest for the deferment of installments apply to a loan made under ...
• Texas Finance Code Section 342.258 - Schedules For Weekly, Biweekly, Or Semimonthly Installments
  The commissioner may prepare schedules that may be used by an authorized lender for the repayment of a loan made under this subchapter by weekly, ...
• Texas Finance Code Section 342.259 - Loans With Larger Advances
  (a) Instead of the charges authorized by Sections 342.201 and 342.252, a loan made under this subchapter with a maximum cash advance computed under Subchapter ...
• Texas Finance Code Section 342.301 - Maximum Interest Charge
  (a) A secondary mortgage loan that is a regular transaction may provide for an interest charge on the cash advance that is precomputed and that ...
• Texas Finance Code Section 342.302 - Additional Interest For Default: Regular Transaction Or Transaction Including Simple Interest
  (a) A secondary mortgage loan that includes precomputed interest and that is a regular transaction may provide for additional interest for default if any part ...
• Texas Finance Code Section 342.303 - Additional Interest For Installment Deferment: Regular Transactions
  (a) On a secondary mortgage loan that includes precomputed interest or uses the scheduled installment earnings method and that is a regular transaction, an authorized ...
• Texas Finance Code Section 342.304 - Collection Of Default Or Deferment Interest
  Interest for default under Section 342.302 or for installment deferment under Section 342.303 may be collected when it accrues or at any time after it ...
• Texas Finance Code Section 342.305 - Additional Interest For Default: Irregular Transaction
  A secondary mortgage loan that includes precomputed interest and that is an irregular transaction may provide for additional interest for default using the true daily ...
• Texas Finance Code Section 342.306 - Date Of First Scheduled Installment
  On a secondary mortgage loan made under this chapter the due date of the first installment may not be scheduled later than three months after ...
• Texas Finance Code Section 342.307 - Amounts Authorized To Be Included In Contract
  A secondary mortgage loan contract may provide for: (1) reasonable fees or charges paid to the trustee in connection with a deed of trust or ...
• Texas Finance Code Section 342.308 - Amounts Authorized To Be Collected Or Added To Loan
  (a) A lender or a person who is assigned a secondary mortgage loan may collect on or before the closing of the loan, or include ...
• Texas Finance Code Section 342.351 - Refund Of Precomputed Interest: Sum Of The Periodic Balances
  (a) This section applies to a loan contract that includes precomputed interest authorized under Subchapter F or G and that is a regular transaction. (b) ...
• Texas Finance Code Section 342.352 - Refund Of Precomputed Interest On Contract: Scheduled Installment Earnings
  (a) This section applies to a loan contract: (1) that includes precomputed interest and to which Section 342.351 does not apply; (2) that includes interest ...
• Texas Finance Code Section 342.353. NO REFUND ON PARTIAL PREPAYMENT OR OF AMOUNT LESS THAN $1. A refund is not required under this subchapter for a partial prepayment or if the amount to be refunded is less than $1. Added by Acts 1999, 76th Leg., ch. 62, § 7.19(a), eff. Sept - 1, 1999
  ...
• Texas Finance Code Section 342.401 - Required Property Insurance
  (a) On a loan that is subject to Subchapter E with a cash advance of $300 or more, a lender may require a borrower to ...
• Texas Finance Code Section 342.402 - Credit Life Insurance, Credit Health And Accident Insurance, Or Involuntary Unemployment Insurance
  (a) On a loan made under this chapter that is subject to Subchapter E with a cash advance of $100 or more, a lender may: ...
• Texas Finance Code Section 342.4021 - Agreements Regarding Debt Suspension, Debt Cancellation, And Gap Waiver
  (a) In connection with a loan made under this chapter that is subject to Section 342.201(d) or 342.301(c), a lender may offer to the borrower ...
• Texas Finance Code Section 342.403 - Maximum Amount Of Insurance Coverage
  (a) At any time the total amount of the policies of credit life insurance in force on one borrower on one loan contract may not ...
• Texas Finance Code Section 342.404 - Insurance Notice
  (a) If insurance is required on a loan made under this chapter, the lender shall give to the borrower written notice that clearly and conspicuously ...
• Texas Finance Code Section 342.405 - Insurance May Be Furnished By Borrower
  (a) If insurance is required on a loan made under this chapter, the borrower may furnish the insurance coverage through an insurance policy that is ...
• Texas Finance Code Section 342.406 - Borrower's Failure To Provide Required Insurance
  (a) If a borrower fails to obtain or maintain insurance coverage required under a loan contract or requests the lender to obtain that coverage, the ...
• Texas Finance Code Section 342.407 - Requirements For Including Insurance Charge In Contract
  Insurance for which a charge is included in a loan contract must be written: (1) at lawful rates; (2) in accordance with the Insurance Code; ...
• Texas Finance Code Section 342.408 - Furnishing Of Insurance Document To Borrower
  If a lender obtains insurance for which a charge is included in the loan contract, the lender, not later than the 30th day after the ...
• Texas Finance Code Section 342.409 - Lender's Duty If Insurance Is Adjusted Or Terminated
  (a) If insurance for which a charge is included in or added to the loan contract is canceled, adjusted, or terminated, the lender shall: (1) ...
• Texas Finance Code Section 342.410 - Payment For Insurance From Loan Proceeds
  A lender, including an officer, agent, or employee of the lender, who accepts insurance under this subchapter as protection for a loan: (1) may deduct ...
• Texas Finance Code Section 342.411 - Insurance Or Other Gain Not Interest
  Any gain or advantage to the lender or the lender's employee, officer, director, agent, general agent, affiliate, or associate from insurance or from another agreement ...
• Texas Finance Code Section 342.412 - Action Under Subchapter Not Sale Of Insurance
  Arranging for insurance or collecting an identifiable charge as authorized by this subchapter is not a sale of insurance. Amended by Acts 1999, 76th Leg., ...
• Texas Finance Code Section 342.413 - Required Agent Or Broker Prohibited
  A lender may not by any direct or indirect method require the purchase of insurance from an agent or broker designated by the lender. Amended ...
• Texas Finance Code Section 342.414 - Declination Of Equal Insurance Coverage Prohibited
  A lender may not decline at any time existing insurance coverage providing substantially equal benefits that comply with this subchapter. Amended by Acts 1999, 76th ...
• Texas Finance Code Section 342.415 - Effect Of Unauthorized Insurance Charge
  (a) If a lender charges for insurance an amount that is not authorized under this subchapter, the lender: (1) is not entitled to collect an ...
• Texas Finance Code Section 342.416 - Nonfiling Insurance
  (a) Instead of charging fees for the filing, recording, and releasing of a document securing a loan to which Subchapter E applies, an authorized lender ...
• Texas Finance Code Section 342.451 - Delivery Of Information To Borrower
  (a) When a loan is made under this chapter, the lender shall deliver to the borrower, or to one borrower if there is more than ...
• Texas Finance Code Section 342.452 - Receipt For Cash Payment
  A lender shall give a receipt to a person making a cash payment on a loan. Added by Acts 1999, 76th Leg., ch. 62, § ...
• Texas Finance Code Section 342.453 - Acceptance Of Prepayment
  At any time during regular business hours, the lender shall accept prepayment of a loan in full or, if the amount tendered is less than ...
• Texas Finance Code Section 342.454 - Return Of Instruments To Borrower On Repayment
  Within a reasonable time after a loan is repaid in full or an open-end account is terminated according to the terms of the contract, a ...
• Texas Finance Code Section 342.455 - Agreement For More Than One Loan Or Cash Advance
  (a) A lender and a borrower may enter an agreement under which one or more loans or cash advances are from time to time made ...
• Texas Finance Code Section 342.456 - Agreement To Modify Term Of Secondary Mortgage Loan Contract
  (a) A lender and a borrower may enter into an agreement under which a term of a secondary mortgage loan contract is amended, restated, or ...
• Texas Finance Code Section 342.457 - Automobile Club Membership Offered In Connection With A Loan
  (a) An authorized lender may, at the time or after a loan under Subchapter E is made, offer to sell to the borrower and finance ...
• Texas Finance Code Section 342.501 - Obligation Under More Than One Contract
  (a) An authorized lender may not induce or permit a person or a husband and wife to be directly or indirectly obligated under more than ...
• Texas Finance Code Section 342.502 - Amount Authorized
  (a) A lender may not directly or indirectly charge, contract for, or receive an amount that is not authorized under this chapter in connection with ...
• Texas Finance Code Section 342.503 - Security For Loan
  (a) A lender may not take as security for a loan made under this chapter an assignment of wages. (b) A lender may not take ...
• Texas Finance Code Section 342.504 - Confession Of Judgment; Power Of Attorney
  A lender may not take a confession of judgment or a power of attorney authorizing the lender or a third person to confess judgment or ...
• Texas Finance Code Section 342.505 - Disclosure Of Amount Financed And Schedule Of Payments
  A lender may not take a promise to pay or loan obligation that does not disclose the amount financed and the schedule of payments, except ...
• Texas Finance Code Section 342.506 - Instrument With Blank Prohibited
  A lender may not take an instrument in which a blank is left to be filled in after the loan is made. Added by Acts ...
• Texas Finance Code Section 342.507 - Waiver Of Borrower's Right Prohibited
  A lender may not take an instrument in which a borrower waives any right accruing to the borrower under this chapter. Added by Acts 1999, ...
• Texas Finance Code Section 342.508 - Maximum Loan Term
  A lender may not enter a loan contract under Section 342.201(a) or Section 342.201(e) under which the borrower agrees to make a scheduled payment of ...
• Texas Finance Code Section 342.551 - Adoption Of Rules
  (a) The Finance Commission of Texas may adopt rules to enforce this chapter. (b) The commissioner shall recommend proposed rules to the Finance Commission of ...
• Texas Finance Code Section 342.552 - Examination Of Lenders; Access To Records
  (a) The commissioner or the commissioner's representative shall, at the times the commissioner considers necessary: (1) examine each place of business of each authorized lender; ...
• Texas Finance Code Section 342.553 - General Investigation
  (a) To discover a violation of this chapter or to obtain information required under this chapter, the commissioner or the commissioner's representative may investigate the ...
• Texas Finance Code Section 342.554 - Certificate; Certified Document
  On application by any person and on payment of any associated cost, the commissioner shall furnish under the commissioner's seal and signed by the commissioner ...
• Texas Finance Code Section 342.555 - Transcript Of Hearing: Public
  The transcript of a hearing held by the commissioner under this chapter is a public record. Added by Acts 1999, 76th Leg., ch. 62, § ...
• Texas Finance Code Section 342.556 - Appointment Of Agent
  (a) An authorized lender shall maintain on file with the commissioner a written appointment of a resident of this state as the lender's agent for ...
• Texas Finance Code Section 342.557 - Payment Of Examination Costs And Administration Expenses
  An authorized lender shall pay to the commissioner an amount assessed by the commissioner to cover the direct and indirect cost of an examination of ...
• Texas Finance Code Section 342.558 - Authorized Lender's Records
  (a) An authorized lender shall maintain a record of each loan made under this chapter as is necessary to enable the commissioner to determine whether ...
• Texas Finance Code Section 342.559 - Annual Report
  (a) Each year, not later than May 1 or a later date set by the commissioner, an authorized lender shall file with the commissioner a ...
• Texas Finance Code Section 342.560 - Conducting Associated Business
  An authorized lender may conduct business under this chapter in an office, office suite, room, or place of business in which any other business is ...
• Texas Finance Code Section 342.601 - Definitions
  In this subchapter: (1) "Lender" means a lender licensed under this chapter. (2) "Member of the United States military" means: (A) a member of the ...
• Texas Finance Code Section 342.602 - Disclosures To Military Borrowers
  Before engaging in a deferred presentment transaction, a lender shall provide to a customer who is a member of the United States military or the ...
• Texas Finance Code Section 342.603 - Prohibited Practices
  A lender may not contact the employer of a member of the United States military about a deferred presentment debt of the member or the ...
• Texas Finance Code Section 342.604 - Military Borrower
  (a) A lender may not engage in collection activity against a borrower who is: (1) a member of the armed forces of the United States ...
• Texas Finance Code Section 342.605 - Repayment Agreement
  With respect to a deferred presentment transaction, a lender shall honor a repayment agreement entered into with a borrower who is a member of the ...
• Texas Finance Code Section 343.001 - Definitions
  In this chapter: (1) "Bridge loan" means temporary or short-term financing requiring payment of only interest until the entire unpaid balance is due. (2) "Home ...
• Texas Finance Code Section 343.002 - Applicability
  This chapter does not apply to: (1) a reverse mortgage; or (2) an open-end account, as defined by Section 301.002. Added by Acts 2001, 77th ...
• Texas Finance Code Section 343.003 - Conflict With Other Provisions Of Title
  If this chapter conflicts with another provision of this title, this chapter controls. Added by Acts 2001, 77th Leg., ch. 622, § 1, eff. Sept. ...
• Texas Finance Code Section 343.101 - Refinancing
  (a) For purposes of this section, a low-rate home loan is a home loan that at its inception carries an interest rate two percentage points ...
• Texas Finance Code Section 343.104 - Restrictions On Single Premium Credit Insurance
  A lender may not offer any individual or group credit life, disability, or unemployment insurance on a prepaid single premium basis in conjunction with a ...
• Texas Finance Code Section 343.201 - Definitions
  In this subchapter: (1) "High-cost home loan" means a loan that: (A) is made to one or more individuals for personal, family, or household purposes; ...
• Texas Finance Code Section 343.202 - Balloon Payment
  A high-cost home loan may not contain a provision for a scheduled payment that is more than twice as large as the average of earlier ...
• Texas Finance Code Section 343.203 - Negative Amortization
  A high-cost home loan may not provide for a payment schedule with regular periodic payments that cause the principal balance to increase, except that this ...
• Texas Finance Code Section 343.204 - Consideration Of Obligor's Payment Ability
  (a) In this section, "obligor" means a person obligated to pay a loan, including a borrower, cosigner, or guarantor. If more than one person is ...
• Texas Finance Code Section 343.205 - Prepayment Penalties Prohibited
  A lender may not make a high-cost home loan containing a provision for a prepayment penalty. Added by Acts 2001, 77th Leg., ch. 622, § ...
• Texas Finance Code Section 343.206 - Charge Prohibited For Product Or Service Not Received
  A lender, in connection with a high-cost home loan, may not charge a borrower an amount for a service or product if the borrower does ...
• Texas Finance Code Section 345.001 - Definitions
  In this chapter: (1) "Credit card issuer" means a person who issues an identification device, including a card or plate, that is used to obtain ...
• Texas Finance Code Section 345.002 - Goods
  (a) For the purposes of this chapter, goods are tangible personal property, other than property described by Subsection (d), that is: (1) purchased primarily for ...
• Texas Finance Code Section 345.003 - Services
  (a) For the purposes of this chapter, services include work, labor, and other services, other than services described by Subsection (c), that are: (1) purchased ...
• Texas Finance Code Section 345.004 - Cash Price
  (a) The cash price in a retail installment transaction is the price at which the retail seller would have sold to the retail buyer, and ...
• Texas Finance Code Section 345.005 - Itemized Charge
  An amount charged to a retail buyer in a retail installment contract or retail charge agreement is an itemized charge if the amount is not ...
• Texas Finance Code Section 345.006 - Time Price Differential Not Interest
  An amount of time price differential is not interest. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 345.007 - Applicability Of Chapter
  (a) This chapter applies only to a retail installment transaction. (b) This chapter does not affect or apply to a loan made or the business ...
• Texas Finance Code Section 345.008 - Applicability Of Other Statutes To Retail Installment Transaction
  (a) A loan or interest statute of this state other than Chapter 303 does not apply to a retail installment transaction. (b) Except as provided ...
• Texas Finance Code Section 345.009 - Disclosure Requirements If Conflict With Federal Law
  If a disclosure requirement of this chapter and one of a federal law, including a regulation or an interpretation of law, are inconsistent or conflict, ...
• Texas Finance Code Section 345.051 - Retail Installment Contract General Requirements
  (a) A retail installment contract must be: (1) in writing; (2) dated; (3) signed by the retail buyer; and (4) completed as to all essential ...
• Texas Finance Code Section 345.052 - Contents Of Contract
  (a) A retail installment contract must contain: (1) the name of the retail seller and the name of the retail buyer; (2) the place of ...
• Texas Finance Code Section 345.053 - Disclosure Of Promise To Compensate For Referral
  (a) A written or oral promise of a retail seller to compensate a retail buyer for referring customers or prospective customers to the seller or ...
• Texas Finance Code Section 345.054 - Time Price Differential For Contract
  A retail installment contract may provide for: (1) any amount of time price differential permitted under Section 345.055, 345.056, 345.057, or 345.058; or (2) any ...
• Texas Finance Code Section 345.055 - Time Price Differential For Contract Payable In Equal Monthly Payments
  (a) A retail installment contract that is payable in substantially equal monthly payments beginning one month after the date of the contract may provide for ...
• Texas Finance Code Section 345.056 - Use Of Optional Ceiling
  As an alternative to the maximum rate or amount authorized for a time price differential under Section 345.055 or 345.057, a retail installment contract may ...
• Texas Finance Code Section 345.057 - Time Price Differential For Other Contracts
  A retail installment contract that is payable other than in substantially equal successive monthly payments or the first installment of which is not payable one ...
• Texas Finance Code Section 345.058 - Minimum Time Price Differential For Contract
  Notwithstanding Section 345.055, 345.056, or 345.057: (1) a retail installment contract with an initial principal balance of $75 or more may provide for a minimum ...
• Texas Finance Code Section 345.059 - Principal Balance Computation
  The principal balance of a retail installment contract is computed by: (1) adding the cash price subject to the contract and the total of the ...
• Texas Finance Code Section 345.060 - Charges For Default In Payment Of Installment
  (a) A retail installment contract may provide that if an installment remains unpaid after the 10th day after the maturity of the installment the retail ...
• Texas Finance Code Section 345.061 - Charges For Collecting Debt
  A retail installment contract may provide for the payment of: (1) an attorney's reasonable fees if the contract is referred for collection to an attorney ...
• Texas Finance Code Section 345.062 - Acceleration Of Debt Maturity
  A retail installment contract or retail charge agreement may not authorize the holder to accelerate the maturity of all or a part of the amount ...
• Texas Finance Code Section 345.063 - Requirements For Contract That Is More Than One Document
  (a) A retail installment contract may be more than one document. (b) One of the retail installment contract documents must: (1) provide that it applies ...
• Texas Finance Code Section 345.064 - Completion Of Contract
  (a) A person may not sign a retail installment contract that contains a blank space for an item that is an essential provision of the ...
• Texas Finance Code Section 345.065 - Delivery Of Copy Of Contract
  The retail seller shall: (1) deliver to the retail buyer a copy of the retail installment contract as accepted by the retail seller; or (2) ...
• Texas Finance Code Section 345.066 - Buyer's Right To Rescind Contract
  Until a retail seller complies with Section 345.065, a retail buyer who has not received delivery of the goods or services is entitled to: (1) ...
• Texas Finance Code Section 345.067 - Buyer's Acknowledgment Of Delivery Of Contract Copy
  (a) Any retail buyer's acknowledgment of delivery of a copy of a retail installment contract must: (1) be in at least 10-point type that is ...
• Texas Finance Code Section 345.068 - Bailment Or Lease As Retail Installment Transaction
  A bailment or lease is a retail installment transaction if the bailee or lessee: (1) contracts to pay as compensation for the use of goods ...
• Texas Finance Code Section 345.069 - Deferment Of Installment
  (a) A holder of a retail installment contract, on request of the retail buyer, may agree to defer the scheduled due date of all or ...
• Texas Finance Code Section 345.070 - Amendment Of Contract
  (a) On request of the retail buyer, the holder of a retail installment contract may: (1) amend the contract to renew, restate, or reschedule the ...
• Texas Finance Code Section 345.071 - Confirmation Of Amendment
  An amendment to a retail installment contract must be confirmed in a writing signed by the retail buyer. The holder shall deliver a copy of ...
• Texas Finance Code Section 345.072 - Contract After Amendment
  After amendment a retail installment contract is the original contract and each amendment to the original contract. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 345.073 - Prepayment Of Contract
  A retail buyer may prepay the unpaid time balance of a retail installment contract in full at any time before the contract's final due date. ...
• Texas Finance Code Section 345.074 - Refund Credit On Prepayment
  If a retail buyer prepays a retail installment contract in full or if the holder demands payment of the unpaid balance of the contract in ...
• Texas Finance Code Section 345.075 - Amount Of Refund Credit For Monthly Installment Contract
  (a) The minimum amount of a refund credit on prepayment of a contract that is payable in substantially equal successive monthly installments beginning one month ...
• Texas Finance Code Section 345.076 - Amount Of Refund Credit For Other Contracts
  The refund credit on a contract to which Section 345.075 does not apply shall be computed in a manner proportionate to the method set out ...
• Texas Finance Code Section 345.077 - Reinstatement Of Contract
  After a demand for payment in full under a retail installment contract, the retail buyer and holder may agree to reinstate the contract and may ...
• Texas Finance Code Section 345.078 - Consolidation Of Contracts
  (a) If a retail buyer purchases goods or services in a retail installment transaction from a retail seller from whom the buyer has previously purchased ...
• Texas Finance Code Section 345.079 - Allocation Of Payments On Consolidation Of Contracts
  (a) If a subsequent purchase is consolidated with a contract and the retail seller retains title or takes a security interest, including a lien, in ...
• Texas Finance Code Section 345.080 - Obligation Under More Than One Contract
  (a) A retail seller may not induce a person or a husband and wife to become obligated at substantially the same time under more than ...
• Texas Finance Code Section 345.081 - Certificate Of Completion Or Satisfaction Of Contract
  (a) A retail seller who has entered into a retail installment transaction under a retail installment contract to perform services or install goods for the ...
• Texas Finance Code Section 345.082 - Statement Of Payments And Amount Due Under Contract
  (a) On written request of a retail buyer, the holder of a retail installment contract shall give or send to the buyer a written statement ...
• Texas Finance Code Section 345.083 - Receipt For Cash Payment
  A holder of a retail installment contract shall give to the retail buyer a written receipt for each cash payment. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 345.101 - Making Retail Charge Agreement
  On the request of a retail buyer or prospective buyer, a retail seller or credit card issuer may establish a retail charge agreement. Acts 1997, ...
• Texas Finance Code Section 345.102 - Agreement General Requirements
  (a) A retail charge agreement must be in writing and signed by the retail buyer. (b) An agreement must contain substantially the following notice printed ...
• Texas Finance Code Section 345.103 - Time Price Differential For Agreement
  (a) Notwithstanding any other law a retail charge agreement may provide for a time price differential for the payment in installments under the agreement. (b) ...
• Texas Finance Code Section 345.104 - Use Of Optional Ceiling
  (a) As an alternative to the maximum rate or amount authorized for a time price differential under Section 345.103, a retail charge agreement may provide ...
• Texas Finance Code Section 345.105 - Charges For Collection Of Payment Of Agreement
  A retail charge agreement may provide for the payment of: (1) an attorney's reasonable fee if the agreement is referred for collection to an attorney ...
• Texas Finance Code Section 345.106 - Processing Fee For Returned Check
  A retail charge agreement may provide that the holder of the agreement may: (1) charge the retail buyer, on return of a dishonored check given ...
• Texas Finance Code Section 345.107 - Prohibited Fees
  An annual, membership, or participation fee may not be charged to or collected from a retail buyer in connection with a retail charge agreement. Acts ...
• Texas Finance Code Section 345.108 - Prohibition On Signing Of Agreement With Blank Spaces
  A retail buyer may not sign a retail charge agreement that contains blank spaces. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 345.109 - Delivery Of Copy Of Agreement
  (a) A retail seller or credit card issuer shall deliver or mail a copy of the executed retail charge agreement to the retail buyer before ...
• Texas Finance Code Section 345.110 - Buyer's Acknowledgment Of Delivery Of Agreement Copy
  (a) Any retail buyer's acknowledgment of delivery of a copy of a retail charge agreement that is contained in the body of the agreement must: ...
• Texas Finance Code Section 345.111 - Statement Of Cash Price
  The cash price in a retail installment transaction under a retail charge agreement shall be stated in a sales slip or other memorandum furnished by ...
• Texas Finance Code Section 345.112 - Agreement Balance Statement
  (a) At the end of each statement period of a retail charge agreement in which an unpaid balance exists, the retail seller shall provide to ...
• Texas Finance Code Section 345.113 - Compliance With Federal Law Considered Compliance With Chapter's Disclosure Requirements
  A retail charge agreement that complies with the applicable disclosure provisions of the Consumer Credit Protection Act (15 U.S.C. Section 1601 et seq.) is considered ...
• Texas Finance Code Section 345.153 - Publication And Effective Date Of Ceiling
  The commissioner shall send to the secretary of state the market competitive rate ceiling determined under Section 345.152 for publication in the first publication of ...
• Texas Finance Code Section 345.155 - Time Price Differential Computation And Amount
  (a) A time price differential authorized under this subchapter shall be computed using the average daily balance method. (b) If the amount of a time ...
• Texas Finance Code Section 345.156 - When Charging Of Time Price Differential Prohibited
  A time price differential may not be charged for a billing cycle of a retail charge agreement that provides for a time price differential under ...
• Texas Finance Code Section 345.157 - Delinquency Charge
  (a) A retail charge agreement that implements the market competitive rate ceiling may provide for the payment of: (1) a delinquency charge on each installment ...
• Texas Finance Code Section 345.158 - Retail Charge Agreement To Which Subchapter Does Not Apply
  This subchapter does not apply to a retail charge agreement that: (1) is a home solicitation transaction that is subject to Chapter 39, Business & ...
• Texas Finance Code Section 345.201 - Property Insurance
  (a) A holder may request or require a retail buyer to insure the property purchased or improved under a retail installment transaction, including the purchase ...
• Texas Finance Code Section 345.202 - Credit Life, Credit Health And Accident, And Credit Involuntary Unemployment Insurance
  (a) As additional protection for the contract or agreement, a holder may: (1) request or require a retail buyer to provide credit life insurance and ...
• Texas Finance Code Section 345.203 - Maximum Amount Of Insurance Coverage
  (a) At any time the total amount of the policies of credit life insurance in force on one retail buyer on one retail installment contract ...
• Texas Finance Code Section 345.204 - Insurance Statement
  (a) If insurance is required in connection with a retail installment contract or retail charge agreement, the holder shall give to the retail buyer a ...
• Texas Finance Code Section 345.205 - Insurance May Be Furnished By Buyer
  (a) If insurance is requested or required in connection with a retail installment contract or retail charge agreement and the retail installment contract or retail ...
• Texas Finance Code Section 345.206 - Buyer's Failure To Provide Evidence Of Insurance
  (a) If the retail buyer fails to present to the holder reasonable evidence that the buyer has obtained or maintained a coverage required by the ...
• Texas Finance Code Section 345.207 - Charges For Other Insurance Included In Retail Installment Contract
  A retail buyer and retail seller may agree in a retail installment contract to include charges for insurance coverage that is: (1) for risk of ...
• Texas Finance Code Section 345.208 - Requirements For Including Insurance Charge In Contract Or Agreement
  (a) For insurance to be included as an itemized charge in a retail installment contract or a retail charge agreement: (1) the insurance must be ...
• Texas Finance Code Section 345.209 - Delivery Of Insurance Document To Buyer
  A holder who obtains insurance shall, not later than the 45th day after the date of the delivery of goods or the furnishing of services ...
• Texas Finance Code Section 345.210 - Holder's Duty If Insurance Is Adjusted Or Terminated
  (a) If insurance for which a charge is included in or added to a retail installment contract or retail charge agreement is canceled, adjusted, or ...
• Texas Finance Code Section 345.211 - Gain Or Advantage From Insurance Not Additional Charge
  Any gain or advantage to the holder or the holder's employee, officer, director, agent, general agent, affiliate, or associate from insurance or the provision or ...
• Texas Finance Code Section 345.212 - Nonfiling Insurance
  (a) Instead of charging fees for the filing, recording, and releasing of documents for the perfection of a security interest created in connection with a ...
• Texas Finance Code Section 345.213 - Inclusion Of Insurance Premiums
  A retail seller may include any type of insurance premium in the billing of its accounts if: (1) a charge, other than the premium, is ...
• Texas Finance Code Section 345.214 - Adding To Retail Installment Contract Premiums For Insurance Acquired After Transaction
  (a) A retail buyer and holder may agree to add to the unpaid balance of a retail installment contract premiums for insurance policies covering goods ...
• Texas Finance Code Section 345.215 - Effect Of Adding Premium To Contract Or Agreement
  (a) If a premium is added to the unpaid balance of a retail installment contract under Section 345.206 or 345.214, the rate of time price ...
• Texas Finance Code Section 345.251 - Documentary Fee For Certain Vehicles
  (a) A retail seller may charge a documentary fee for services rendered to, for, or on behalf of a retail buyer in preparing, handling, and ...
• Texas Finance Code Section 345.252 - Time Price Differential For Certain Prepaid Funeral Benefits
  Prepaid funeral benefits regulated under Chapter 154 may be financed only at rates authorized by Chapter 303. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 345.253 - Time Price Differential For Medical And Dental Services
  Medical or dental services may be financed only at rates authorized by Chapter 303. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 345.301 - Authority To Acquire
  Notwithstanding any other law, a person may acquire a retail installment contract or retail charge agreement or an outstanding balance under a contract or agreement ...
• Texas Finance Code Section 345.302 - Lack Of Notice Does Not Affect Validity As To Certain Creditors
  Notice to a retail buyer of an assignment or negotiation of a retail installment contract or retail charge agreement or an outstanding balance under a ...
• Texas Finance Code Section 345.303 - Payment By Buyer
  Unless a retail buyer has notice of the assignment or negotiation of the buyer's retail installment contract or retail charge agreement or an outstanding balance ...
• Texas Finance Code Section 345.304 - Preservation Of Buyer's Right Of Action Or Defense
  (a) A right of action or defense of a retail buyer arising out of a retail installment transaction is not affected by the negotiation of ...
• Texas Finance Code Section 345.351 - Registration Of Holder
  (a) A holder who is not an authorized lender under Chapter 342 or a credit union shall: (1) register with the Office of Consumer Credit ...
• Texas Finance Code Section 345.352 - Seller's Promise To Pay Or Tender Of Cash To Buyer As Part Of Transaction
  A retail seller may not promise to pay, pay, or otherwise tender cash to a retail buyer as a part of a transaction under this ...
• Texas Finance Code Section 345.353 - Making Of Contract Or Agreement By Mail Or Telephone
  The designation requirement of Section 345.051(b) and the notice requirement of Section 345.052(d) do not apply to a sale under a retail installment contract or ...
• Texas Finance Code Section 345.354 - Prohibition On Power Of Attorney To Confess Judgment And Assignment Of Wages
  A retail installment contract or retail charge agreement may not contain: (1) a power of attorney to confess judgment; or (2) an assignment of wages. ...
• Texas Finance Code Section 345.355 - Prohibition On Certain Acts Of Repossession
  A retail installment contract or retail charge agreement may not: (1) authorize the holder or a person acting on the holder's behalf to: (A) enter ...
• Texas Finance Code Section 345.356 - Buyer's Waiver
  (a) A retail installment contract or retail charge agreement may not: (1) provide for a waiver of the retail buyer's rights of action against the ...
• Texas Finance Code Section 345.357 - Prohibition On Certain Liens
  A retail installment contract or retail charge agreement may not provide for a first lien on real property to secure the obligation, other than a ...
• Texas Finance Code Section 346.001 - Definitions
  In this chapter: (1) "Billing cycle" means the interval between periodic billing statements. (2) "Credit card" means a card, confirmation, or identification or check or ...
• Texas Finance Code Section 346.002 - Average Daily Balance
  (a) The average daily balance of a revolving credit account is computed by: (1) adding all of the ending balances in the account during each ...
• Texas Finance Code Section 346.003 - Revolving Credit Accounts
  (a) A revolving credit account is an open-end account: (1) that is established by a creditor for a customer under a written agreement between the ...
• Texas Finance Code Section 346.004 - Application Of Chapter To Revolving Credit Accounts
  (a) Unless the contract for the account provides otherwise, this chapter applies to a revolving credit account described by Section 346.003 if the loan or ...
• Texas Finance Code Section 346.005 - Application Of Other Code Provisions
  (a) A revolving credit account is subject to Chapters 303 and 349 but is not subject to another chapter of this title unless specifically provided ...
• Texas Finance Code Section 346.101 - Maximum Interest Rate
  (a) A revolving credit account may provide for interest on an account at an annual rate that does not exceed the greater of: (1) 18 ...
• Texas Finance Code Section 346.102 - Permissible Interest Rate For Billing Cycle
  (a) A revolving credit account that provides for equal billing cycles may provide for interest for a billing cycle at the rate equal to one-twelfth ...
• Texas Finance Code Section 346.103 - Fees
  (a) The following fees may be charged to or collected from a customer in connection with an account under this chapter: (1) an annual fee ...
• Texas Finance Code Section 346.201 - Insurance; Collateral
  In connection with a revolving credit account, a creditor may require or take insurance subject to the provisions of Chapter 342, relating to insurance, as ...
• Texas Finance Code Section 346.202 - Amounts Authorized To Be Recovered From Customer
  (a) A creditor may recover from a customer amounts incurred by the creditor for: (1) court costs; (2) attorney's fees assessed by a court; (3) ...
• Texas Finance Code Section 346.203 - More Than One Revolving Credit Account Authorized
  (a) On a customer's request, a creditor may enter into more than one revolving credit account with the customer and may charge interest on each ...
• Texas Finance Code Section 346.204 - Amendment Of Revolving Credit Account By Creditor
  (a) A creditor unilaterally may amend a revolving credit account. (b) A change made under Subsection (a) that relates to an existing or future balance ...
• Texas Finance Code Section 346.205 - Compliance With Federal Consumer Credit Protection Act
  This chapter does not change a creditor's obligation to comply with the Consumer Credit Protection Act (15 U.S.C. Section 1601 et seq.) Acts 1997, 75th ...
• Texas Finance Code Section 346.206 - Acceleration Or Immediate Payment Demand Prohibited
  With respect to a revolving credit account secured by an interest in real property, a creditor may not accelerate or demand immediate payment of an ...
• Texas Finance Code Section 347.001 - Legislative Finding
  The legislature finds that credit transactions, both credit sales and consumer loans, for the purchase of manufactured homes should be regulated equally in the same ...
• Texas Finance Code Section 347.002 - Definitions
  (a) In this chapter: (1) "Consumer" means a person to whom credit is extended in a credit transaction. The term includes a comaker, endorser, guarantor, ...
• Texas Finance Code Section 347.003 - Bailment Or Lease As Credit Transaction
  (a) A bailment or lease of a manufactured home is a credit transaction if the bailee or lessee: (1) agrees to pay as compensation for ...
• Texas Finance Code Section 347.004 - Compliance With Federal Consumer Credit Protection Act
  (a) A creditor shall comply with all applicable requirements, including required disclosures, under Part I, Consumer Credit Protection Act (15 U.S.C. Section 1601 et seq.) ...
• Texas Finance Code Section 347.005 - Federal Residential Mortgage Loans Programs
  (a) A creditor and consumer may agree to any provision in the credit transaction that is expressly authorized in a program for residential mortgage loans ...
• Texas Finance Code Section 347.006 - Waiver Not Valid
  No act or agreement of the consumer before or at the time of the making of a credit transaction or purchase under the transaction is ...
• Texas Finance Code Section 347.007 - Application Of Chapter To Commercial Loans
  This chapter does not apply to a credit transaction that is entered into primarily for commercial or business purposes. Added by Acts 2005, 79th Leg., ...
• Texas Finance Code Section 347.051 - Appearance Of Credit Document; Consumer Notice
  (a) The printed part of a credit document, other than instructions for completion, must be in at least eight-point type. (b) A credit document must ...
• Texas Finance Code Section 347.052 - Disclosure Of Amount Of Delinquency Charge
  The creditor shall disclose in the credit document the amount or method of computing the amount of a charge that is payable if a payment ...
• Texas Finance Code Section 347.053 - Provisions Prohibited In Credit Document
  A credit document may not: (1) contain a power of attorney to confess judgment in this state; (2) contain an assignment of wages; (3) provide ...
• Texas Finance Code Section 347.054 - Consumer's Acknowledgment Of Delivery Of Credit Document
  (a) A consumer's acknowledgment of the delivery of a copy of the credit document is conclusive proof that: (1) the document was delivered to the ...
• Texas Finance Code Section 347.055 - Credit Document After Amendment
  After a credit document is amended under Subchapter D, the document consists of: (1) the original credit document; (2) the writing required under Section 347.153 ...
• Texas Finance Code Section 347.056 - Authority Of Consumer Credit Commissioner Relating To A Credit Document
  The commissioner may not require the inclusion of any specific language or a disclosure on a credit document that is not expressly required by: (1) ...
• Texas Finance Code Section 347.101 - Adjustable Rate
  A credit transaction may provide for an adjustable interest rate or time price differential in accordance with this subchapter. Acts 1997, 75th Leg., ch. 1008, ...
• Texas Finance Code Section 347.102 - Requirements For Rate Adjustments
  (a) The interest rate or time price differential in a credit transaction may be adjusted at stated regular intervals if the credit document expressly: (1) ...
• Texas Finance Code Section 347.103 - Rate Adjustment Index Base
  The index base for an adjustment of the interest rate or time price differential is set by the index value on the first day of ...
• Texas Finance Code Section 347.104 - Amount Of Rate Adjustment
  (a) The amount of a rate adjustment is computed by subtracting the index base or, for a change after the initial change, the index value ...
• Texas Finance Code Section 347.105 - Maximum Rate Adjustments
  (a) The total of the rate adjustments for any six-month period may not exceed one-half of one percent a year. (b) If the stated interval ...
• Texas Finance Code Section 347.106 - Mandatory Decrease; Optional Increase
  (a) If a computation under Section 347.104 results in a decrease, the creditor shall decrease the credit transaction's rate. If the creditor has agreed to ...
• Texas Finance Code Section 347.107 - Notice Of Rate Adjustment
  (a) After the notice provided by this section has been given, the rate shall be increased or decreased by the amount determined by this subchapter. ...
• Texas Finance Code Section 347.108 - Prohibition On Use Of Rate Adjustment And Certain Mortgages
  A credit transaction that provides for a rate adjustment under this subchapter may not permit the rate adjustment to be combined with a mortgage loan ...
• Texas Finance Code Section 347.109 - Computation Of Finance Charge For Disclosure
  (a) This section applies only for purposes of disclosure. (b) The finance charge on a credit transaction is computed on the unpaid balance from the ...
• Texas Finance Code Section 347.110 - Use Of Optional Ceiling
  (a) This section applies to a credit transaction only if the federal usury preemptions for residential mortgage loans contained in the Veterans' Disability Compensation and ...
• Texas Finance Code Section 347.151 - Amendment Of Credit Transaction
  (a) On a consumer's request, a creditor may: (1) extend or defer the scheduled due date of all or part of one or more installments ...
• Texas Finance Code Section 347.152 - Alternate Method Of Amendment Of Credit Transaction
  (a) As an alternative to Section 347.151 the creditor, on the consumer's request, may agree to amend an original credit transaction by renewing, restating, or ...
• Texas Finance Code Section 347.153 - Requirements For Amendment
  (a) Before an amendment of a credit transaction may take effect it must be: (1) confirmed in writing; (2) signed by the consumer; and (3) ...
• Texas Finance Code Section 347.154 - Oral Amendment Not Binding
  An oral amendment to a credit transaction is not binding on the consumer or the creditor. Acts 1997, 75th Leg., ch. 1008, § 1, eff. ...
• Texas Finance Code Section 347.155 - Prepayment
  (a) A consumer may prepay in full the unpaid balance of a credit transaction at any time before maturity. (b) On prepayment, after deduction of ...
• Texas Finance Code Section 347.201 - Property Insurance
  (a) A creditor may require a consumer to insure the property involved in a credit transaction with coverage designated by the creditor. (b) Insurance required ...
• Texas Finance Code Section 347.202 - Statement Of Required Insurance
  (a) If insurance is required in connection with a credit transaction, the creditor shall give to the consumer a statement that clearly and conspicuously states ...
• Texas Finance Code Section 347.203 - Consumer's Failure To Obtain Required Insurance
  (a) If at any time the consumer fails to obtain the required insurance, the creditor may: (1) treat the failure as a default; or (2) ...
• Texas Finance Code Section 347.204 - Purchase Of Additional Insurance After Date Of Credit Document
  (a) A consumer may: (1) purchase any insurance authorized by this chapter after the date of the credit document; and (2) include the amount of ...
• Texas Finance Code Section 347.205 - Statement For Purchase Of Optional Insurance
  (a) A consumer who elects to purchase optional insurance must sign a statement that: (1) indicates the consumer's election; and (2) describes the term, premium, ...
• Texas Finance Code Section 347.206 - Requirements For Insurance Charge In Credit Transaction
  Insurance required by or included in a credit transaction must be written: (1) at lawful rates; (2) in accordance with the Insurance Code; and (3) ...
• Texas Finance Code Section 347.207 - Insurance Disclosures In Credit Document
  A credit document must disclose: (1) the term, premium, and type of insurance the cost of which is included in the unpaid balance of the ...
• Texas Finance Code Section 347.208 - Creditor May Refuse To Accept Policy
  (a) If the consumer obtains insurance required under this chapter from someone other than the creditor, the creditor is entitled for good cause to refuse ...
• Texas Finance Code Section 347.209 - Creditor's Duty If Insurance Is Canceled, Adjusted, Or Terminated
  (a) If insurance for which a charge is included in a credit transaction is canceled, adjusted, or terminated, the creditor shall: (1) credit to the ...
• Texas Finance Code Section 347.210 - Single Interest Policy Prohibited
  Insurance that protects only the interest of the creditor is prohibited and may not be financed as part of a credit transaction. Acts 1997, 75th ...
• Texas Finance Code Section 347.211 - Gain Or Advantage From Insurance Not Charge
  Any gain or advantage to a creditor or a creditor's employee, officer, director, agent, general agent, affiliate, or associate from insurance under this chapter or ...
• Texas Finance Code Section 347.251 - Financing Insurance
  (a) A creditor may finance as part of a credit transaction insurance: (1) required in accordance with Section 347.201; or (2) requested by the consumer. ...
• Texas Finance Code Section 347.252 - Payment Of Insurance Premiums With Installments
  For insurance coverage required under Section 347.201 in the second and subsequent years of the credit transaction, a creditor may require the consumer to pay ...
• Texas Finance Code Section 347.253 - Adjustment Of Amounts Paid To Creditor For Insurance
  (a) If the amount held by a creditor to pay insurance premiums and the amounts for insurance to be paid to the creditor with installments ...
• Texas Finance Code Section 347.254 - Payment Of Taxes Through The Creditor
  (a) Except as provided by Subsection (c), a creditor shall require a consumer to pay ad valorem taxes on the manufactured home through the creditor. ...
• Texas Finance Code Section 347.255 - Adjustment Of Amounts Paid To Creditor For Taxes
  (a) If the amount held by a creditor to pay ad valorem taxes on the manufactured home and the amounts for taxes to be paid ...
• Texas Finance Code Section 347.256 - Creditor's Action On Consumer's Failure To Pay Taxes
  (a) If a consumer does not pay a tax that has been assessed against the manufactured home, the creditor may treat the failure as a ...
• Texas Finance Code Section 347.257 - Agreement To Include Taxes In Credit Transaction
  (a) A consumer and creditor may agree to: (1) have the creditor pay taxes, and interest or other charges, assessed by a taxing authority against ...
• Texas Finance Code Section 347.258 - Deposit Amounts Paid For Taxes Or Insurance
  (a) This section applies to amounts received in installments by a creditor for the payment of ad valorem taxes or insurance premiums. (b) The creditor ...
• Texas Finance Code Section 347.301 - Fees For Transactions Without Real Property
  (a) This section applies only to a credit transaction that does not involve real property. (b) Only a fee or tax that is paid by ...
• Texas Finance Code Section 347.302 - Charge Prohibited
  A creditor may not charge a consumer any amount in connection with processing a credit transaction rate adjustment under Subchapter C. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 347.307 - Charges On Repossession
  A credit document may provide for payment of: (1) reasonable attorney's fees; (2) court costs and disbursements; and (3) the charge and collection of actual ...
• Texas Finance Code Section 347.308 - Fee For Transfer Of Obligor On Debt
  A creditor may: (1) agree to accept a subsequent consumer as an obligor under an existing obligation; and (2) charge a transfer fee that does ...
• Texas Finance Code Section 347.351 - Delinquency Charge On Default
  (a) On each installment in default for more than 15 days, a creditor may collect a delinquency charge that does not exceed the lesser of ...
• Texas Finance Code Section 347.352 - Acceleration Of Debt Maturity
  A creditor may accelerate the maturity of all or a part of the amount owed under a credit transaction only if the consumer is in ...
• Texas Finance Code Section 347.353 - Computing Amount Owed For Purpose Of Acceleration
  In computing the amount that is owed under a credit transaction, the creditor shall grant to the consumer a refund of the finance charge computed ...
• Texas Finance Code Section 347.354 - Accrual Of Interest On Acceleration
  If payment of a debt is accelerated, interest accrues on the amount owed under the credit transaction, including expenses authorized under Section 347.307 that are ...
• Texas Finance Code Section 347.355 - Repossession On Default
  (a) If a consumer is in default, the creditor who possesses the first recorded perfected security interest may repossess the manufactured home. (b) If the ...
• Texas Finance Code Section 347.356 - Requirements For Action To Repossess, Foreclose, Or Accelerate Payment Of Entire Debt
  An action to repossess a manufactured home, foreclose a lien on a manufactured home, or accelerate payment of the entire unpaid balance of a credit ...
• Texas Finance Code Section 347.357 - Disposal Of Insurance And Tax Escrow Account On Default
  If a consumer is in default, the amount in the consumer's insurance and tax escrow accounts established under Section 347.258 shall be applied to the ...
• Texas Finance Code Section 347.401 - Priority Of Security Interest For Unpaid Rental Of Real Property
  Except as provided by this subchapter, a lien or charge against a manufactured home for unpaid rental of the real property on which the manufactured ...
• Texas Finance Code Section 347.402 - Possessory Lien
  (a) The owner of the real property on which a manufactured home is or has been located and for which rental charges have not been ...
• Texas Finance Code Section 347.403 - Amounts That May Be Recovered By Real Property Owner
  In addition to the recovery of the rental charges, the owner of real property who is required to retain legal counsel to recover the amounts ...
• Texas Finance Code Section 347.404 - Liability Of Real Property Owner For Refusal To Allow Creditor To Repossess Manufactured Home
  (a) Unless an owner of real property has a possessory lien that has priority under Section 347.402, the owner of the real property may not ...
• Texas Finance Code Section 347.451 - Registration Of Certain Creditors
  (a) A creditor who is not an authorized lender under Chapter 342 or a credit union shall: (1) register with the Office of Consumer Credit ...
• Texas Finance Code Section 347.452 - Acquisition And Transfer Of Credit Transaction Or Balance
  (a) A person may acquire or agree to acquire from another person a credit transaction or an unpaid balance under a credit transaction on the ...
• Texas Finance Code Section 347.453 - Effect Of Disclosure By One Of Several Creditors
  In a credit transaction involving more than one creditor, the disclosure of an item by a creditor satisfies the requirement to disclose that item regardless ...
• Texas Finance Code Section 347.454 - Disclosure If More Than One Consumer
  In a credit transaction involving more than one consumer, the creditor is required to give the disclosures required by this chapter to only one of ...
• Texas Finance Code Section 347.455 - Real Property In Credit Transaction
  (a) A creditor and consumer may agree to include real property in the cash price of a credit transaction if: (1) the real property does ...
• Texas Finance Code Section 347.501 - Creditor's Liability Related To Deposit
  A creditor is liable for the penalty provided by Section 349.003 if the creditor: (1) fails to order the manufactured home or fails to hold ...
• Texas Finance Code Section 347.502 - Liability For Charge Exceeding Amount Authorized
  (a) Notwithstanding Chapter 349, a creditor who contracts for, charges, or receives a charge relating to a credit transaction, other than interest or time price ...
• Texas Finance Code Section 347.503 - Creditor's Liability For Error In Pay-Off Quotation
  Notwithstanding Chapter 349, a creditor that responds to a consumer's request for a pay-off quotation under this chapter by delivering to the consumer a written ...
• Texas Finance Code Section 347.504 - Creditor's Liability For Oral Or Unsolicited Written Statement Of Amount Owed
  On a credit transaction a creditor is not liable for an oral statement of an amount owed or for a written statement of an amount ...
• Texas Finance Code Section 347.505 - Penalty For Failure To Register
  (a) The commissioner may impose a penalty not to exceed $50 for failure to register as required by Section 347.451(a). (b) The commissioner may impose ...
• Texas Finance Code Section 347.506 - When Act Or Omission Not Violation
  (a) An act or omission does not violate this chapter if the act or omission conforms to an interpretation of any provision of this chapter ...
• Texas Finance Code Section 348.001 - Definitions
  In this chapter: (1) "Buyer's order" means a nonbinding, preliminary written computation relating to the purchase in a retail installment transaction of a motor vehicle ...
• Texas Finance Code Section 348.002 - Bailment Or Lease As Retail Installment Transaction
  A bailment or lease of a motor vehicle is a retail installment transaction if the bailee or lessee: (1) contracts to pay as compensation for ...
• Texas Finance Code Section 348.003 - Classification As Retail Installment Transaction Unaffected
  A transaction is not excluded as a retail installment transaction because: (1) the retail seller arranges to transfer the retail buyer's obligation; (2) the amount ...
• Texas Finance Code Section 348.004 - Cash Price
  (a) The cash price is the price at which the retail seller offers in the ordinary course of business to sell for cash the goods ...
• Texas Finance Code Section 348.005 - Itemized Charge
  An amount in a retail installment contract is an itemized charge if the amount is not included in the cash price and is the amount ...
• Texas Finance Code Section 348.006 - Principal Balance; Inclusion Of Documentary Fee
  (a) The principal balance under a retail installment contract is computed by: (1) adding: (A) the cash price of the motor vehicle; (B) each amount ...
• Texas Finance Code Section 348.007 - Applicability Of Chapter
  (a) Each retail installment transaction is subject to this chapter. (a-1) A transaction in which a retail buyer purchases a towable recreation vehicle from a ...
• Texas Finance Code Section 348.008 - Applicability Of Other Statutes To Retail Installment Transaction
  (a) A loan or interest statute of this state, other than Chapter 303, does not apply to a retail installment transaction. (b) Except as provided ...
• Texas Finance Code Section 348.009 - Federal Disclosure Requirements Applicable
  (a) The disclosure requirements of 12 C.F.R. Part 226 (Regulation Z) adopted under the Truth in Lending Act (15 U.S.C. Section 1601 et seq.) and ...
• Texas Finance Code Section 348.010 - Additional Information Allowed In Contract
  Information not required by this chapter may be included in a retail installment contract. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 348.011 - Order Of Items In Contract
  Items required by this chapter to be in a retail installment contract are not required to be stated in the order set forth in this ...
• Texas Finance Code Section 348.012 - Applicability Of Insurance Premium Financing Provisions
  Chapter 651, Insurance Code, does not apply to a retail installment transaction. Added by Acts 2001, 77th Leg., ch. 1235, § 17, eff. Sept. 1, ...
• Texas Finance Code Section 348.101 - Retail Installment Contract General Requirements
  (a) A retail installment contract is required for each retail installment transaction. A retail installment contract may be more than one document. (b) A retail ...
• Texas Finance Code Section 348.102 - Contents Of Contract
  (a) A retail installment contract must contain: (1) the name of the retail seller and the name of the retail buyer; (2) the place of ...
• Texas Finance Code Section 348.103 - Time Price Differential For Retail Installment Contract
  A retail installment contract may provide for: (1) any amount of time price differential permitted under Section 348.104, 348.105, or 348.106; or (2) any rate ...
• Texas Finance Code Section 348.104 - Time Price Differential For Contract With Equal Monthly Successive Payments
  (a) A retail installment contract that is payable in substantially equal successive monthly installments beginning one month after the date of the contract may provide ...
• Texas Finance Code Section 348.105 - Use Of Optional Ceiling
  As an alternative to the maximum rate or amount authorized for a time price differential under Section 348.104 or 348.106, a retail installment contract may ...
• Texas Finance Code Section 348.106 - Time Price Differential For Other Contracts
  A retail installment contract that is payable other than in substantially equal successive monthly installments or the first installment of which is not payable one ...
• Texas Finance Code Section 348.107 - Charge For Default In Payment Of Installment
  (a) A retail installment contract may provide that if an installment remains unpaid after the 10th day after the maturity of the installment for a ...
• Texas Finance Code Section 348.108 - Charges For Collecting Debt
  A retail installment contract may provide for the payment of: (1) reasonable attorney's fees if the contract is referred for collection to an attorney who ...
• Texas Finance Code Section 348.109 - Acceleration Of Debt Maturity
  A retail installment contract may not authorize the holder to accelerate the maturity of all or a part of the amount owed under the contract ...
• Texas Finance Code Section 348.110 - Delivery Of Copy Of Contract
  A retail seller shall: (1) deliver to the retail buyer a copy of the retail installment contract as accepted by the retail seller; or (2) ...
• Texas Finance Code Section 348.111 - Buyer's Right To Rescind Contract
  Until the retail seller complies with Section 348.110, a retail buyer who has not received delivery of the motor vehicle is entitled to: (1) rescind ...
• Texas Finance Code Section 348.112 - Buyer's Acknowledgment Of Delivery Of Contract Copy
  (a) Any retail buyer's acknowledgment of delivery of a copy of the retail installment contract must: (1) be in at least 10-point type that is ...
• Texas Finance Code Section 348.113 - Amendment Of Retail Installment Contract
  On request by a retail buyer, the holder may agree to one or more amendments to the retail installment contract to: (1) extend or defer ...
• Texas Finance Code Section 348.114 - Charges For Deferring Installment
  (a) If a retail installment contract is amended to defer all or a part of one or more installments for not longer than three months, ...
• Texas Finance Code Section 348.115 - Charge For Other Amendment
  (a) If the unpaid balance of a retail installment contract is extended, renewed, restated, or rescheduled under this subchapter and Section 348.114 does not apply, ...
• Texas Finance Code Section 348.116 - Confirmation Of Amendment
  An amendment to a retail installment contract must be confirmed in a writing signed by the retail buyer. The holder shall: (1) deliver a copy ...
• Texas Finance Code Section 348.117 - Contract After Amendment
  After amendment the retail installment contract is the original contract and each amendment to the original contract. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 348.118 - Prepayment Of Contract
  A retail buyer may prepay a retail installment contract in full at any time before maturity. This section prevails over a conflicting provision of the ...
• Texas Finance Code Section 348.119 - Refund Credit On Prepayment
  If a retail buyer prepays a retail installment contract in full or if the holder of the contract demands payment of the unpaid balance of ...
• Texas Finance Code Section 348.120 - Amount Of Refund Credit For Monthly Installment Contract
  (a) This section applies only to a refund credit on the prepayment of a retail installment contract that is payable in substantially equal successive monthly ...
• Texas Finance Code Section 348.121 - Amount Of Refund Credit For Other Contracts
  The minimum amount of the refund credit on a retail installment contract to which Section 348.120 does not apply shall be computed in a manner ...
• Texas Finance Code Section 348.122 - Reinstatement Of Contract After Demand For Payment
  After a demand for payment in full under a retail installment contract, the retail buyer and holder of the contract may: (1) agree to reinstate ...
• Texas Finance Code Section 348.123 - Refinancing Of Large Installment
  (a) If a scheduled installment of a retail installment contract is more than an amount equal to twice the average of all installments scheduled before ...
• Texas Finance Code Section 348.201 - Property Insurance
  (a) A holder may request or require a retail buyer to insure the motor vehicle purchased under a retail installment transaction and accessories and related ...
• Texas Finance Code Section 348.202 - Credit Life And Credit Health And Accident Insurance
  (a) As additional protection for the contract, a holder may request or require a retail buyer to provide credit life insurance and credit health and ...
• Texas Finance Code Section 348.203 - Maximum Amount Of Credit Life And Credit Health And Accident Coverage
  (a) At any time the total amount of the policies of credit life insurance in force on one retail buyer on one retail installment contract ...
• Texas Finance Code Section 348.204 - Insurance Statement
  (a) If insurance is required in connection with a retail installment contract, the holder shall give to the retail buyer a written statement that clearly ...
• Texas Finance Code Section 348.205 - Statement If Liability Insurance Not Included In Contract
  If liability insurance coverage for bodily injury and property damage caused to others is not included in a retail installment contract, the retail installment contract ...
• Texas Finance Code Section 348.206 - Insurance May Be Furnished By Buyer
  (a) If insurance is requested or required in connection with a retail installment contract and the retail installment contract includes a premium or rate of ...
• Texas Finance Code Section 348.207 - Buyer's Failure To Provide Evidence Of Insurance
  (a) If a retail buyer fails to present to the holder reasonable evidence that the buyer has obtained or maintained a coverage required by the ...
• Texas Finance Code Section 348.208 - Charges For Other Insurance And Forms Of Protection Included In Retail Installment Contract
  (a) A retail buyer and retail seller may agree in a retail installment contract to include a charge for insurance coverage that is: (1) for ...
• Texas Finance Code Section 348.209 - Requirements For Including Insurance Cost In Contract
  (a) If insurance is included as an itemized charge in a retail installment contract: (1) the insurance must be written: (A) at lawful rates; (B) ...
• Texas Finance Code Section 348.210 - Delivery Of Insurance Document To Buyer
  A holder who purchases dual interest insurance on the motor vehicle shall within a reasonable time after execution of the retail installment contract send or ...
• Texas Finance Code Section 348.211 - Holder's Duty If Insurance Is Adjusted Or Terminated
  (a) If insurance for which a charge is included in or added to a retail installment contract is canceled, adjusted, or terminated, the holder shall, ...
• Texas Finance Code Section 348.212 - Gain Or Advantage From Insurance Not Additional Charge
  Any gain or advantage to the holder or the holder's employee, officer, director, agent, general agent, affiliate, or associate from insurance or the provision or ...
• Texas Finance Code Section 348.213 - Adding To Retail Installment Contract Premiums For Insurance Acquired After Transaction
  (a) A retail buyer and holder may agree to add to the unpaid balance of a retail installment contract premiums for insurance policies obtained after ...
• Texas Finance Code Section 348.214 - Effect Of Adding Premium To Contract
  If a premium is added to the unpaid balance of a retail installment contract under Section 348.207 or 348.213, the rate applicable to the time ...
• Texas Finance Code Section 348.215 - Financing Entity May Not Require Insurance From Particular Source
  If a retail installment contract presented to a financing entity for acceptance includes any insurance coverage, the financing entity may not directly or indirectly require, ...
• Texas Finance Code Section 348.301 - Authority To Acquire
  A person may acquire a retail installment contract or an outstanding balance under a contract from another person on the terms, including the price, to ...
• Texas Finance Code Section 348.302 - Lack Of Notice Does Not Affect Validity As To Certain Creditors
  Notice to a retail buyer of an assignment or negotiation of a retail installment contract or an outstanding balance under the contract or a requirement ...
• Texas Finance Code Section 348.303 - Payment By Buyer
  Unless a retail buyer has notice of the assignment or negotiation of the buyer's retail installment contract or an outstanding balance under the contract, a ...
• Texas Finance Code Section 348.403 - Seller's Promise To Pay Or Tender Of Cash To Buyer As Part Of Transaction
  A retail seller may not promise to pay, pay, or otherwise tender cash to a retail buyer as a part of a transaction under this ...
• Texas Finance Code Section 348.404 - Seller's Action For Incentive Program Or To Pay For Buyer's Motor Vehicle
  (a) A retail seller may pay, promise to pay, or tender cash or another thing of value to the manufacturer, distributor, or retail buyer of ...
• Texas Finance Code Section 348.405 - Statement Of Payments And Amount Due Under Contract
  (a) On written request of a retail buyer, the holder of a retail installment contract shall give or send to the buyer a written statement ...
• Texas Finance Code Section 348.406 - Receipt For Cash Payment
  A holder of a retail installment contract shall give the retail buyer a written receipt for each cash payment. Acts 1997, 75th Leg., ch. 1008, ...
• Texas Finance Code Section 348.407 - Retention Or Disposition Of Nonattached Personal Property
  (a) If a retail installment contract authorizes the holder or a person acting on the holder's behalf to retain or dispose of tangible personal property ...
• Texas Finance Code Section 348.408 - Outstanding Balance Information; Payment In Full
  (a) The holder of a retail installment contract who gives the retail buyer or the buyer's designee outstanding balance information relating to the contract is ...
• Texas Finance Code Section 348.409 - Liability Relating To Outstanding Balance Information
  A holder who violates Section 348.408 is liable to the retail buyer or the buyer's designee in an amount computed by adding: (1) three times ...
• Texas Finance Code Section 348.410 - Prohibition On Power Of Attorney To Confess Judgment Or Assignment Of Wages
  A retail installment contract may not contain: (1) a power of attorney to confess judgment in this state; or (2) an assignment of wages. Acts ...
• Texas Finance Code Section 348.411 - Prohibition On Certain Acts Of Repossession
  A retail installment contract may not: (1) authorize the holder or a person acting on the holder's behalf to: (A) enter the retail buyer's premises ...
• Texas Finance Code Section 348.412 - Buyer's Waiver
  (a) A retail installment contract may not: (1) provide for a waiver of the retail buyer's rights of action against the holder or a person ...
• Texas Finance Code Section 348.413 - Transfer Of Equity
  (a) With the written consent of the holder, a retail buyer may transfer at any time the buyer's equity in the motor vehicle subject to ...
• Texas Finance Code Section 348.501 - License Required
  (a) A person may not act as a holder under this chapter unless the person: (1) is an authorized lender or a credit union; or ...
• Texas Finance Code Section 348.502 - Application Requirements
  (a) The application for a license under this chapter must: (1) be under oath; (2) identify the applicant's principal parties in interest; and (3) contain ...
• Texas Finance Code Section 348.503 - Investigation Of Application
  On the filing of an application and payment of the required fees, the commissioner shall conduct an investigation to determine whether to issue the license. ...
• Texas Finance Code Section 348.504 - Approval Or Denial Of Application
  (a) The commissioner shall approve the application and issue to the applicant a license under this chapter if the commissioner finds that: (1) the financial ...
• Texas Finance Code Section 348.505 - Disposition Of Fees On Denial Of Application
  If the commissioner denies the application, the commissioner shall retain the investigation fee and shall return to the applicant the license fee submitted with the ...
• Texas Finance Code Section 348.506 - Annual License Fee
  Not later than December 1, a license holder shall pay to the commissioner for each license held an annual fee for the year beginning the ...
• Texas Finance Code Section 348.507 - Expiration Of License On Failure To Pay Annual Fee
  If the annual fee for a license is not paid before the 16th day after the date on which the written notice of delinquency of ...
• Texas Finance Code Section 348.508 - License Suspension Or Revocation
  After notice and a hearing the commissioner may suspend or revoke a license if the commissioner finds that: (1) the license holder failed to pay ...
• Texas Finance Code Section 348.509 - Reinstatement Of Suspended License; Issuance Of New License After Revocation
  The commissioner may reinstate a suspended license or issue a new license on application to a person whose license has been revoked if at the ...
• Texas Finance Code Section 348.510 - Surrender Of License
  A license holder may surrender a license issued under this chapter by delivering to the commissioner: (1) the license; and (2) a written notice of ...
• Texas Finance Code Section 348.511 - Effect Of License Suspension, Revocation, Or Surrender
  (a) The suspension, revocation, or surrender of a license issued under this chapter does not affect the obligation of a contract between the license holder ...
• Texas Finance Code Section 348.512 - Transfer Or Assignment Of License
  A license may be transferred or assigned only with the approval of the commissioner. Added by Acts 2001, 77th Leg., ch. 1235, § 18, eff. ...
• Texas Finance Code Section 348.513 - Adoption Of Rules
  (a) The finance commission may adopt rules to enforce this chapter. (b) The commissioner shall recommend proposed rules to the finance commission. Added by Acts ...
• Texas Finance Code Section 348.514 - Examination; Access To Records
  (a) At the times the commissioner considers necessary, the commissioner or the commissioner's representative shall: (1) examine each place of business of each license holder; ...
• Texas Finance Code Section 348.515 - General Investigation
  To discover a violation of this chapter or to obtain information required under this chapter, the commissioner or the commissioner's representative may investigate the records, ...
• Texas Finance Code Section 348.516 - Payment Of Examination Costs And Administration Expenses
  A license holder shall pay to the commissioner an amount determined as provided by Section 14.107 and assessed by the commissioner to cover the direct ...
• Texas Finance Code Section 348.517 - License Holder's Records
  (a) A license holder shall maintain a record of each retail installment transaction made under this chapter as is necessary to enable the commissioner to ...
• Texas Finance Code Section 348.518 - Sharing Of Information
  To ensure consistent enforcement of law and minimization of regulatory burdens, the commissioner and the Texas Department of Transportation may share information, including criminal history ...
• Texas Finance Code Section 349.001 - Liability For Contracting For, Charging, Or Receiving Excessive Amount
  (a) A person who violates this subtitle by contracting for, charging, or receiving interest or time price differential greater than the amount authorized by this ...
• Texas Finance Code Section 349.002 - Liability For Charges Exceeding Twice Amount Authorized
  (a) A person who violates this subtitle by contracting for, charging, or receiving interest or time price differential that in an aggregate amount exceeds twice ...
• Texas Finance Code Section 349.003 - Liability For Failure To Perform Or For Performance Of Prohibited Act
  (a) Except as provided by this subtitle, a person who fails to perform a requirement specifically imposed on the person by this subtitle or who ...
• Texas Finance Code Section 349.004 - Liability Related To Criminal Offense
  In addition to other applicable penalties, a person who commits an offense under Section 349.502 is liable to the obligor for an amount equal to: ...
• Texas Finance Code Section 349.005 - Liability For Violating Injunction
  (a) A person who violates an injunction issued under this subtitle is liable to this state for a civil penalty that does not exceed $1,000 ...
• Texas Finance Code Section 349.101 - No Liability If Violation Unintentional And From Bona Fide Error Or If In Conformity With Other Law
  (a) A person is not liable under Section 349.001, 349.002, or 349.003 if the person shows by a preponderance of evidence that: (1) the violation: ...
• Texas Finance Code Section 349.102 - Liability For Multiple Violations In One Transaction
  (a) A person who would be liable under Sections 349.001 and 349.003 as a result of the same transaction is liable only for the penalties ...
• Texas Finance Code Section 349.103 - Limitation On Multiple Recovery Of Penalties
  (a) An administrative penalty, fine, settlement, or assurance of voluntary compliance under this title or federal law that is assessed by or agreed to with ...
• Texas Finance Code Section 349.201 - Correction Resulting In No Liability
  (a) A person is not liable to an obligor for a violation of this subtitle if: (1) not later than the 60th day after the ...
• Texas Finance Code Section 349.202 - Correction Of Violation Of Failure To Act Or Performing Prohibited Act Resulting In Limited Liability
  (a) Liability to an obligor for a violation of this subtitle to which Section 349.003 applies is limited as provided by this section if, after ...
• Texas Finance Code Section 349.203 - Correction Of Violation Of Charging Excessive Amounts Resulting In Limited Liability
  (a) This section applies only to a violation of this subtitle to which Section 349.001 applies and that results from: (1) contracting for, charging, or ...
• Texas Finance Code Section 349.204 - Giving Written Notice
  (a) For purposes of this subchapter, written notice is given to a person by delivering the notice to the person or the person's agent or ...
• Texas Finance Code Section 349.205 - Correction Exception Available To All Similarly Situated
  If in a single transaction more than one person may be liable for a violation of this subtitle, compliance with Section 349.201, 349.202, or 349.203 ...
• Texas Finance Code Section 349.301 - Payment Of Fees
  A person who registers or obtains or renews a license under this title after the date on which the person was required to register or ...
• Texas Finance Code Section 349.302 - Late Filing Fee For Registering Or Renewal Of Registration
  (a) A person who renews a registration not later than the 30th day after the date on which the registration expires is not required to ...
• Texas Finance Code Section 349.303 - Late Filing Fee For Obtaining Or Renewing License
  (a) The late filing fee for renewing an expired license is $1,000 if the license: (1) was in good standing when it expired; and (2) ...
• Texas Finance Code Section 349.304 - Effect Of Compliance With Subchapter For Registrant Or License Holder
  (a) A person who pays the applicable registration fees and late filing fee as provided by Section 349.301 is considered for all purposes to have ...
• Texas Finance Code Section 349.305 - Effect Of Compliance With Subchapter On Person Other Than Registrant Or License Holder
  A benefit provided to a person under Section 349.304 also applies to that person's employees or other agents, employers, predecessors, successors, and assigns but does ...
• Texas Finance Code Section 349.401 - Venue
  An action under this chapter must be brought in the county in which: (1) the transaction was entered; or (2) the defendant resides when the ...
• Texas Finance Code Section 349.402 - Limitation Period
  (a) Except as provided by Subsection (b), an action under this chapter must be brought before the later of: (1) the fourth anniversary of the ...
• Texas Finance Code Section 349.403 - Class Action
  (a) In a class action that alleges one or more violations of this subtitle and is determined by the court to be maintainable as a ...
• Texas Finance Code Section 349.404 - Liability Under Subchapter In Lieu Of Liability Under Consumer Credit Protection Act
  (a) A final judgment granting or denying relief under the Consumer Credit Protection Act (15 U.S.C. Section 1601 et seq.) bars a subsequent action under ...
• Texas Finance Code Section 349.501 - Offense Of Charges Exceeding Twice Amount Authorized
  (a) A person commits an offense if the person contracts for, charges, or receives interest, time price differential, and other charges that in an aggregate ...
• Texas Finance Code Section 349.502 - Offense Of Engaging In Lending Business Without Proper Authority
  (a) A person commits an offense if the person engages in a business that is subject to Chapter 342 or 346 without holding the license ...
• Texas Finance Code Section 349.503 - Certain Proceedings In Connection With Sale-Leaseback Transaction
  (a) If a buyer in a sale-leaseback transaction requires the seller to provide a check as security for the transaction, the buyer may not file ...
• Texas Finance Code Section 350.001 - Applicability
  (a) This chapter applies to a person who extends credit primarily for personal, family, or household use and not for a business, commercial, investment, or ...
• Texas Finance Code Section 350.002 - Prevention Of Evasion
  A person may not use any device, subterfuge, or pretense to evade the application of this section. Added by Acts 2005, 79th Leg., ch. 1018, ...
• Texas Finance Code Section 350.003 - Compliance With Fair Trade Practices Act
  A creditor who is not licensed, registered, or otherwise exempt under this title must comply with the requirements of 15 U.S.C. Section 45. An enforcement ...
• Texas Finance Code Section 350.004 - Penalties
  Chapter 349 applies to violations of this chapter and the rules adopted under this chapter. Added by Acts 2005, 79th Leg., ch. 1018, § 1.04, ...
• Texas Finance Code Section 371.001 - Short Title
  This chapter shall be known and may be cited as the "Texas Pawnshop Act." Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 371.002 - Purposes
  The purposes of this chapter are to: (1) prevent fraud, unfair practices, discrimination, imposition, and abuse of state residents; (2) exercise the state's police power ...
• Texas Finance Code Section 371.003 - Definitions
  In this chapter: (1) "Applicable liabilities" include trade or other accounts payable; accrued sales, income, or other taxes; accrued expenses; and notes or other payables ...
• Texas Finance Code Section 371.004 - Computation Of Month
  (a) For the computation of time in this chapter, a month is the period from a date in a month to the corresponding date in ...
• Texas Finance Code Section 371.005 - Regulatory Authority
  The legislature has exclusive authority regarding the operation of pawnshops, except for a matter delegated by this chapter to the commissioner. The commissioner has the ...
• Texas Finance Code Section 371.006 - Rulemaking
  (a) The Finance Commission of Texas may adopt rules to enforce this chapter. (b) A rule shall be entered in a permanent record book. The ...
• Texas Finance Code Section 371.007 - Staggered Renewal Of Licenses
  (a) The Finance Commission of Texas by rule may adopt a system under which licenses issued under this chapter expire on various dates during the ...
• Texas Finance Code Section 371.051 - Pawnshop License Required
  A person may not engage in business as a pawnbroker unless the person holds a pawnshop license. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 371.052 - Eligibility
  (a) To be eligible for a pawnshop license, an applicant must: (1) be of good moral character; (2) meet the net assets requirement of Section ...
• Texas Finance Code Section 371.053 - Verification Of Applicant's Net Assets
  If the commissioner cannot verify that an applicant meets the net assets requirement of Section 371.072, the commissioner may require a finding, including a current ...
• Texas Finance Code Section 371.054 - License Application
  (a) This section applies to an application for: (1) an original pawnshop license; (2) relocation of a pawnshop; or (3) transfer of a pawnshop license ...
• Texas Finance Code Section 371.055 - Fees; Proof Of Insurance
  An applicant must submit with the application: (1) an investigation fee of: (A) $500 if the applicant does not hold a license; or (B) $250 ...
• Texas Finance Code Section 371.056 - Bond
  (a) The commissioner may require that an applicant file a bond with the application. The bond must be: (1) satisfactory to the commissioner; (2) in ...
• Texas Finance Code Section 371.057 - Investigation; Notice Of Application
  (a) On receipt of an application and the required fees, the commissioner shall: (1) conduct an investigation to determine whether to issue the license; and ...
• Texas Finance Code Section 371.058 - Public Hearing
  (a) On request, the commissioner shall conduct a public hearing before issuing a pawnshop license. (b) The commissioner shall give a pawnbroker that would be ...
• Texas Finance Code Section 371.059 - Approval; Issuance Of License
  (a) Subject to Subsection (b), the commissioner shall approve the application and issue a license if the commissioner finds that the applicant is eligible for ...
• Texas Finance Code Section 371.060 - Notice Of Denial; Hearing
  (a) If the commissioner does not make a finding described by Section 371.059, the commissioner shall notify the applicant. (b) An applicant who requests a ...
• Texas Finance Code Section 371.061 - Period For Final Decision To Approve Or Deny
  Unless the applicant and the commissioner agree in writing to a later date, the commissioner shall approve or deny the application before the 61st day ...
• Texas Finance Code Section 371.062 - Disposition Of Fees On Denial Of Application
  If the commissioner denies the application, the commissioner shall retain the investigation fee and shall return to the applicant the annual license fee submitted with ...
• Texas Finance Code Section 371.063 - License Issued Before October 1, 1981
  A license issued to a pawnshop before October 1, 1981, remains valid as long as the pawnbroker complies with this chapter. Acts 1997, 75th Leg., ...
• Texas Finance Code Section 371.064 - Annual License Fee; Expiration
  (a) Not later than December 1, a pawnbroker shall pay to the commissioner for each license held an annual fee in an amount determined as ...
• Texas Finance Code Section 371.066 - Temporary License
  (a) The commissioner may issue a temporary pawnshop license on receipt of an application: (1) to transfer a license from one person to another; or ...
• Texas Finance Code Section 371.067 - Contents And Display Of License
  (a) A license must state: (1) the name of the pawnbroker; and (2) the address at which the business is to be conducted. (b) A ...
• Texas Finance Code Section 371.068 - Multiple Places Of Business
  (a) A separate pawnshop license is required for each place of business operated under this chapter. (b) The commissioner may issue more than one license ...
• Texas Finance Code Section 371.069 - Change Of Ownership
  (a) An application for an original pawnshop license or the transfer of a pawnshop license is required if a change in direct or beneficial ownership ...
• Texas Finance Code Section 371.070 - Transfer Or Assignment Of License
  A pawnshop license may be transferred or assigned only with the approval of the commissioner. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. ...
• Texas Finance Code Section 371.071 - Application For Relocation
  A pawnbroker who wishes to move a pawnshop from the location provided on the license must make application to the commissioner before the 30th day ...
• Texas Finance Code Section 371.072 - Net Assets Requirement
  (a) Except as provided by Subsection (b), a pawnbroker shall maintain net assets of at least $150,000 that are used or readily available for use ...
• Texas Finance Code Section 371.073 - Appointment Of Agent
  (a) A pawnbroker shall maintain on file with the commissioner a written appointment of a resident of this state as the pawnbroker's agent for service ...
• Texas Finance Code Section 371.101 - Pawnshop Employee License Required
  (a) An individual who begins employment at a pawnshop must apply to the commissioner for a pawnshop employee license not later than the 75th day ...
• Texas Finance Code Section 371.102 - Eligibility
  (a) To be eligible for a pawnshop employee license, an individual must: (1) be of good moral character and good business repute; and (2) possess ...
• Texas Finance Code Section 371.103 - License Application; Fees
  (a) An application for a pawnshop employee license must state: (1) the applicant's name and address; (2) the name of the pawnshop at which the ...
• Texas Finance Code Section 371.104 - Approval Or Denial Of Application
  (a) Not later than the 60th day after the date an application is filed, the commissioner shall determine whether the applicant qualifies for a pawnshop ...
• Texas Finance Code Section 371.105 - License Term
  A pawnshop employee license is effective until the license expires or is surrendered, suspended, or revoked. Acts 1997, 75th Leg., ch. 1008, § 1, eff. ...
• Texas Finance Code Section 371.106 - Annual License Fee; Expiration
  (a) Not later than December 1, a pawnshop employee license holder shall pay to the commissioner an annual fee of $15 for the year beginning ...
• Texas Finance Code Section 371.151 - Hours Of Operation
  (a) A pawnbroker shall maintain normal business hours of at least four hours a day for five days a week. (b) A pawnbroker may not ...
• Texas Finance Code Section 371.152 - Recordkeeping
  (a) A pawnbroker, consistent with accepted accounting practices, shall keep adequate books and records relating to the pawnbroker's pawn transactions and any other business regulated ...
• Texas Finance Code Section 371.153 - Notice Of Operation Of Other Business
  (a) A pawnbroker shall notify the commissioner before the pawnbroker allows another person to conduct at the pawnshop a business other than the business of ...
• Texas Finance Code Section 371.154 - Insurance And Bond
  (a) A pawnbroker shall maintain general liability and fire insurance: (1) in a reasonable amount and form required by the commissioner; and (2) sufficient to ...
• Texas Finance Code Section 371.155 - Pawnshop Security
  A pawnshop shall have: (1) one or more alarm systems sufficient to detect and signal unauthorized entry or the presence of an unauthorized person to ...
• Texas Finance Code Section 371.156 - Pawn Transaction
  (a) Items that are usually sold as a set are considered a single item and must be included in the same pawn transaction. (b) A ...
• Texas Finance Code Section 371.157 - Pawn Ticket
  A pawnbroker, at the time a pawn transaction is entered, shall deliver to the pledgor a pawn ticket or other memorandum that clearly shows: (1) ...
• Texas Finance Code Section 371.158 - Amount Financed
  The amount financed by a pawn transaction may not exceed the amount computed under Subchapter C, Chapter 341, using the reference amount of $2,500. Acts ...
• Texas Finance Code Section 371.159 - Pawn Service Charge
  (a) A pawnbroker may not contract for, charge, or receive an amount, other than a pawn service charge, as a charge for credit in connection ...
• Texas Finance Code Section 371.160 - Maturity Date; Memorandum Of Extension
  (a) A pawnbroker may not enter a pawn transaction that has a maturity date later than one month after the date of the transaction. (b) ...
• Texas Finance Code Section 371.161 - Early Redemption: Reduction Of Pawn Service Charge
  If a pledgor redeems the pledged goods before the maturity date of the pawn transaction, any part of the pawn service charge that exceeds $15 ...
• Texas Finance Code Section 371.162 - Presentation Of Ticket; Presumption
  Except as provided by Section 371.163(a), a person who presents proper identification and a pawn ticket to the pawnbroker is presumed to be entitled to ...
• Texas Finance Code Section 371.163 - Lost Or Destroyed Ticket
  (a) If a pawn ticket is lost, destroyed, or stolen, the pledgor may notify the pawnbroker of that fact in writing. Receipt of this notice ...
• Texas Finance Code Section 371.164 - Duty Of Reasonable Care
  A pawnbroker shall exercise reasonable care to protect pledged goods from loss or damage. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, ...
• Texas Finance Code Section 371.165 - Return Of Pledged Goods
  A pawnbroker shall return pledged goods to the pledgor on payment of the total amount due the pawnbroker in connection with the pawn transaction. Acts ...
• Texas Finance Code Section 371.166 - Redemption By Mail
  A pawnbroker shall permit a pledgor to redeem pledged goods by mail. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 371.167 - Lost Or Damaged Goods
  (a) A pawnbroker shall replace pledged goods that are lost or damaged while in the pawnbroker's possession with like kind merchandise. The replacement is subject ...
• Texas Finance Code Section 371.168 - Exemption From Criminal Liability
  A pawnbroker is not criminally liable for damages or loss due to an act of God or circumstances beyond the pawnbroker's control. Acts 1997, 75th ...
• Texas Finance Code Section 371.169 - Unredeemed Pledged Goods; Forfeiture
  (a) A pawnbroker shall hold pledged goods not redeemed by the pledgor on or before the maturity date stated in the pawn ticket issued in ...
• Texas Finance Code Section 371.170 - Redemption Or Payment By Pledgor Not Required
  A pledgor is not obligated to redeem pledged goods or to make a payment on a pawn transaction. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 371.171 - Agreement Requiring Pledgor's Personal Liability Prohibited
  A pawnbroker may not enter an agreement requiring the personal liability of the pledgor in connection with a pawn transaction. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 371.172 - Waiver Of Pledgor's Rights Prohibited
  A pawnbroker may not accept a waiver of a right or protection of a pledgor under this chapter. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 371.173 - Insurance Charge Limited
  A pawnbroker may not impose a charge for insurance in connection with a pawn transaction, except that a pawnbroker may impose a charge in the ...
• Texas Finance Code Section 371.174 - Identification Of Pledgor Or Seller Required
  (a) A pawnbroker shall require identification of: (1) the pledgor if a transaction is a pawn transaction; or (2) the seller if a transaction is ...
• Texas Finance Code Section 371.175 - Property Identification Tags Required
  (a) A pawnshop shall identify by a tag or similar means each item of goods located in the pawnshop that: (1) has a retail or ...
• Texas Finance Code Section 371.176 - Transactions With Minors Or Persons Under The Influence Of Alcohol Or Drugs Prohibited
  A pawnbroker may not: (1) accept a pledge or purchase property from a person under 18 years of age; or (2) transact business with a ...
• Texas Finance Code Section 371.177 - Purchase Of Used Personal Property
  A pawnbroker may not purchase used personal property from a person other than another pawnbroker unless a record is established that contains: (1) the seller's ...
• Texas Finance Code Section 371.178 - Acceptance Of Building Construction Materials
  (a) A pawnbroker may not accept the pledge of building construction materials unless a record is established that contains the information required by Section 371.177. ...
• Texas Finance Code Section 371.179 - Displays Of Certain Weapons Prohibited
  A pawnbroker may not display for sale in a storefront window or sidewalk display case or depict on a sign or advertisement in such a ...
• Texas Finance Code Section 371.180 - Advertisements
  (a) A person who does not hold a pawnshop license may not: (1) advertise or cause to be advertised the making, arranging, or negotiating of ...
• Texas Finance Code Section 371.181 - Stolen Goods
  (a) A pawnbroker shall monitor goods purchased, accepted in pawn, or otherwise acquired by the pawnbroker in order to identify and prohibit transactions involving stolen ...
• Texas Finance Code Section 371.182 - Hold Period
  The commissioner may designate a reasonable hold period during which a pawnbroker may not sell or otherwise dispose of an item of goods acquired and ...
• Texas Finance Code Section 371.183 - Consumer Information
  The Finance Commission of Texas by rule may require a pawnshop to display, in an area in the pawnshop accessible to a consumer, materials provided ...
• Texas Finance Code Section 371.201 - Examination By Commissioner
  At any time the commissioner considers necessary, the commissioner or the commissioner's representative may: (1) examine a pawnbroker's place of business; (2) inquire into and ...
• Texas Finance Code Section 371.202 - Access To Records; Copies
  (a) During an examination the pawnbroker shall give the commissioner or the commissioner's representative free access to the pawnbroker's office, place of business, files, safe, ...
• Texas Finance Code Section 371.203 - Oaths
  During an examination the commissioner or the commissioner's representative may administer an oath and examine a person under oath on a subject relating to a ...
• Texas Finance Code Section 371.204 - Inspection By Peace Officer
  A pawnbroker shall allow a peace officer to inspect the pawnbroker's books, accounts, papers, correspondence, or other records that relate to the business of the ...
• Texas Finance Code Section 371.205 - Refusal To Allow Examination Or Inspection
  A pawnbroker who fails or refuses to permit an examination or copying of books or other documents or an examination or inspection of goods authorized ...
• Texas Finance Code Section 371.206 - Confidentiality
  Information obtained during an examination or inspection authorized by this subchapter is confidential and privileged except for use by the commissioner or in a criminal ...
• Texas Finance Code Section 371.207 - Fee
  A pawnbroker shall pay to the commissioner an amount assessed by the commissioner to cover the direct and indirect costs of an examination and a ...
• Texas Finance Code Section 371.208 - Verification Of Net Assets
  If the commissioner questions the amount of a pawnbroker's net assets, the commissioner may require certification by an independent certified public accountant that: (1) the ...
• Texas Finance Code Section 371.251 - Revocation Or Suspension Of Pawnshop License
  (a) After notice and hearing, the commissioner may revoke or suspend a pawnshop license if the commissioner finds that: (1) the pawnbroker has not paid ...
• Texas Finance Code Section 371.252 - Effect Of Revocation, Suspension, Or Surrender Of Pawnshop License
  Revocation, suspension, or surrender of a pawnshop license does not affect a preexisting contract between the pawnbroker and a pledgor. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 371.253 - Notice Of Revocation
  (a) On revocation of a pawnshop license by the commissioner, the pawnbroker shall send notice of the revocation to each pledgor with goods in the ...
• Texas Finance Code Section 371.254 - Redemption Of Goods After License Revocation Or Suspension
  (a) After revocation of a pawnshop license, the pawnbroker, for the sole purpose of allowing a pledgor to redeem pledged goods, shall maintain usual business ...
• Texas Finance Code Section 371.255 - Revocation Or Suspension Of Pawnshop Employee License
  After notice and hearing, the commissioner may revoke or suspend a pawnshop employee license if the commissioner finds that: (1) the license holder knowingly or ...
• Texas Finance Code Section 371.256 - Hearing
  (a) The commissioner shall send written notice of a pawnshop employee license revocation or suspension hearing to: (1) the license holder; and (2) the employing ...
• Texas Finance Code Section 371.257 - Surrender Of License
  (a) The holder of a pawnshop license or a pawnshop employee license may surrender the license by delivering it to the commissioner with written notice ...
• Texas Finance Code Section 371.258 - Reinstatement Of License
  (a) This section applies to a pawnshop license or a pawnshop employee license. (b) The commissioner may reinstate a suspended pawnshop license or pawnshop employee ...
• Texas Finance Code Section 371.259 - Certificate Of Standing; Copies
  The commissioner, under the commissioner's seal and signature, shall provide a certificate of good standing or a certified copy of a pawnshop license or a ...
• Texas Finance Code Section 371.301 - Commissioner's Enforcement Powers
  For purposes of enforcing this chapter, the commissioner: (1) has the powers granted to the commissioner under Chapter 14; (2) may exercise those powers in ...
• Texas Finance Code Section 371.302 - Order To End Violation; Injunction; Damages
  (a) If the commissioner has reasonable cause to believe that a person is violating this chapter, the commissioner, in addition to and without prejudice to ...
• Texas Finance Code Section 371.303 - Administrative Penalty
  (a) The commissioner may assess an administrative penalty against a person who violates this chapter or a rule adopted under this chapter. (b) The commissioner ...
• Texas Finance Code Section 371.304 - Acting Without A License; Offenses
  (a) A person who violates Section 371.051 commits an offense. (b) A person commits an offense if the person: (1) accepts employment at a pawnshop ...
• Texas Finance Code Section 371.305 - Wilful Violation Of Chapter; Offense
  (a) A person commits an offense if the person holds a license under this chapter and: (1) wilfully violates this chapter; or (2) wilfully makes ...
• Texas Finance Code Section 371.306 - Penalty For Certain Violations
  (a) A pawnbroker who contracts for, charges, or collects a pawn service charge that is greater than the amount authorized by this chapter or otherwise ...
• Texas Finance Code Section 391.001 - Definition
  In this chapter, "credit reporting bureau" means a person who engages in the practice of assembling or reporting credit information about individuals for the purpose ...
• Texas Finance Code Section 391.002 - Furnishing False Information; Penalty
  (a) A person commits an offense if the person knowingly furnishes false information about another person's creditworthiness, credit standing, or credit capacity to a credit ...
• Texas Finance Code Section 392.001 - Definitions
  In this chapter: (1) "Consumer" means an individual who has a consumer debt. (2) "Consumer debt" means an obligation, or an alleged obligation, primarily for ...
• Texas Finance Code Section 392.101 - Bond Requirement
  (a) A third-party debt collector or credit bureau may not engage in debt collection unless the third-party debt collector or credit bureau has obtained a ...
• Texas Finance Code Section 392.102 - Claim Against Bond
  A person who claims against a bond for a violation of this chapter may maintain an action against the third-party debt collector or credit bureau ...
• Texas Finance Code Section 392.201 - Report To Consumer
  Not later than the 45th day after the date of the request, a credit bureau shall provide to a person in its registry a copy ...
• Texas Finance Code Section 392.202 - Correction Of Third-Party Debt Collector's Or Credit Bureau's Files
  (a) An individual who disputes the accuracy of an item that is in a third-party debt collector's or credit bureau's file on the individual and ...
• Texas Finance Code Section 392.301 - Threats Or Coercion
  (a) In debt collection, a debt collector may not use threats, coercion, or attempts to coerce that employ any of the following practices: (1) using ...
• Texas Finance Code Section 392.302 - Harassment; Abuse
  In debt collection, a debt collector may not oppress, harass, or abuse a person by: (1) using profane or obscene language or language intended to ...
• Texas Finance Code Section 392.303 - Unfair Or Unconscionable Means
  (a) In debt collection, a debt collector may not use unfair or unconscionable means that employ the following practices: (1) seeking or obtaining a written ...
• Texas Finance Code Section 392.304 - Fraudulent, Deceptive, Or Misleading Representations
  (a) Except as otherwise provided by this section, in debt collection or obtaining information concerning a consumer, a debt collector may not use a fraudulent, ...
• Texas Finance Code Section 392.305 - Deceptive Use Of Credit Bureau Name
  A person may not use "credit bureau," "retail merchants," or "retail merchants association" in the person's business or trade name unless: (1) the person is ...
• Texas Finance Code Section 392.306 - Use Of Independent Debt Collector
  A creditor may not use an independent debt collector if the creditor has actual knowledge that the independent debt collector repeatedly or continuously engages in ...
• Texas Finance Code Section 392.401 - Bona Fide Error
  A person does not violate this chapter if the action complained of resulted from a bona fide error that occurred notwithstanding the use of reasonable ...
• Texas Finance Code Section 392.402 - Criminal Penalty
  (a) A person commits an offense if the person violates this chapter. (b) An offense under this section is a misdemeanor punishable by a fine ...
• Texas Finance Code Section 392.403 - Civil Remedies
  (a) A person may sue for: (1) injunctive relief to prevent or restrain a violation of this chapter; and (2) actual damages sustained as a ...
• Texas Finance Code Section 392.404 - Remedies Under Other Law
  (a) A violation of this chapter is a deceptive trade practice under Subchapter E, Chapter 17, Business & Commerce Code, and is actionable under that ...
• Texas Finance Code Section 393.001 - Definitions
  In this chapter: (1) "Consumer" means an individual who is solicited to purchase or who purchases the services of a credit services organization. (2) "Consumer ...
• Texas Finance Code Section 393.002 - Persons Not Covered
  (a) This chapter does not apply to: (1) a person: (A) authorized to make a loan or grant an extension of consumer credit under the ...
• Texas Finance Code Section 393.003 - Waiver Void
  A waiver of a provision of this chapter by a consumer is void. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ...
• Texas Finance Code Section 393.101 - Registration Statement
  (a) Before conducting business in this state, a credit services organization shall register with the secretary of state by filing a statement that: (1) contains ...
• Texas Finance Code Section 393.102 - Update Of Registration Statement
  A credit services organization shall update information contained in the registration statement not later than the 90th day after the date on which the information ...
• Texas Finance Code Section 393.103 - Inspection Of Registration Statement
  A credit services organization shall allow a consumer to inspect the registration statement on request. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. ...
• Texas Finance Code Section 393.104 - Filing Fee
  The secretary of state may charge a credit services organization a reasonable fee to cover the cost of filing a registration statement or renewal application ...
• Texas Finance Code Section 393.105 - Disclosure Statement
  Before executing a contract with a consumer or receiving valuable consideration from a consumer, a credit services organization shall provide the consumer with a document ...
• Texas Finance Code Section 393.106 - Copy Of Disclosure Statement
  A credit services organization shall keep in its files a copy of a document required under Section 393.105, signed by the consumer, acknowledging receipt, until ...
• Texas Finance Code Section 393.201 - Form And Terms Of Contract
  (a) Each contract for the purchase of the services of a credit services organization by a consumer must be in writing, dated, and signed by ...
• Texas Finance Code Section 393.202 - Notice Of Cancellation
  (a) The contract must conspicuously state the following, in type that is boldfaced, capitalized, underlined, or otherwise distinguished from the surrounding written material and in ...
• Texas Finance Code Section 393.203 - Issuance Of Contract And Other Documents
  A credit services organization shall give to the consumer, when the document is signed, a copy of the completed contract and any other document the ...
• Texas Finance Code Section 393.204 - Breach Of Contract
  The breach by a credit services organization of a contract under this chapter, or of an obligation arising from a contract under this chapter, is ...
• Texas Finance Code Section 393.301 - Representative
  In this subchapter, a representative of a credit services organization includes: (1) a salesperson, agent, or other representative of the organization; and (2) an independent ...
• Texas Finance Code Section 393.302 - Charge Or Receipt Of Consideration Before Completion Of Services
  A credit services organization or a representative of the organization may charge or receive from a consumer valuable consideration before completely performing all the services ...
• Texas Finance Code Section 393.303 - Charge Or Receipt Of Consideration For Referral
  A credit services organization or a representative of the organization may not charge or receive from a consumer valuable consideration solely for referring the consumer ...
• Texas Finance Code Section 393.304 - False Or Misleading Representation Or Statement
  A credit services organization or a representative of the organization may not: (1) make or use a false or misleading representation in the offer or ...
• Texas Finance Code Section 393.305 - Fraudulent Or Deceptive Conduct
  A credit services organization or a representative of the organization may not directly or indirectly engage in a fraudulent or deceptive act, practice, or course ...
• Texas Finance Code Section 393.306 - Advertising Services Without Filing Registration Statement
  A credit services organization or a representative of the organization may not advertise the services of the organization if the organization has not filed a ...
• Texas Finance Code Section 393.307 - Causing Waiver Prohibited
  A credit services organization may not attempt to cause a consumer to waive a right under this chapter. Acts 1997, 75th Leg., ch. 1008, § ...
• Texas Finance Code Section 393.401 - Surety Bond
  (a) The surety bond of a credit services organization must be issued by a surety company authorized to do business in this state. (b) A ...
• Texas Finance Code Section 393.402 - Surety Account
  (a) The surety account of a credit services organization must be held in trust at a federally insured bank or savings association located in this ...
• Texas Finance Code Section 393.403 - Amount Of Surety Bond Or Account
  The surety bond or account of a credit services organization must be in the amount of $10,000. Acts 1997, 75th Leg., ch. 1008, § 1, ...
• Texas Finance Code Section 393.404 - Beneficiary Of Surety Bond Or Account
  The surety bond or account of a credit services organization must be in favor of: (1) this state for the benefit of a person damaged ...
• Texas Finance Code Section 393.405 - Claim Against Surety Bond Or Account
  (a) A person making a claim against a surety bond or account of a credit services organization for a violation of this chapter may file ...
• Texas Finance Code Section 393.406 - Term Of Surety Bond Or Account
  The surety bond or account of a credit services organization must be maintained until the second anniversary of the date on which the organization ceases ...
• Texas Finance Code Section 393.407 - Payment Of Money In Surety Account To Credit Services Organization
  (a) A depository may not pay money in a surety account to the credit services organization that established the account or a representative of the ...
• Texas Finance Code Section 393.501 - Criminal Penalty
  (a) A person commits an offense if the person violates this chapter. (b) An offense under this chapter is a Class B misdemeanor. Acts 1997, ...
• Texas Finance Code Section 393.502 - Injunctive Relief
  A district court on the application of the attorney general or a consumer may enjoin a violation of this chapter. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 393.503 - Damages
  (a) A consumer injured by a violation of this chapter is entitled to recover: (1) actual damages in an amount not less than the amount ...
• Texas Finance Code Section 393.504 - Deceptive Trade Practice
  A violation of this chapter is a deceptive trade practice actionable under Subchapter E, Chapter 17, Business & Commerce Code. Acts 1997, 75th Leg., ch. ...
• Texas Finance Code Section 393.505 - Statute Of Limitations
  An action under Section 393.503 or 393.504 must be brought not later than the fourth anniversary of the date on which the contract to which ...
• Texas Finance Code Section 394.001 - Duties Of Commissioner
  The consumer credit commissioner shall provide advice and assistance to: (1) encourage the establishment and operation of voluntary nonprofit debt-counseling services for residents of this ...
• Texas Finance Code Section 394.201 - Purpose; Construction
  (a) The purpose of this subchapter is to protect consumers who contract for services with debt management services providers. (b) This subchapter shall be liberally ...
• Texas Finance Code Section 394.202 - Definitions
  In this subchapter: (1) "Advertising" means information about a provider or about the provider's debt management services, communicated in writing or orally to an individual ...
• Texas Finance Code Section 394.203 - Applicability
  (a) Except as otherwise provided by this subchapter, this subchapter applies to a provider regardless of whether the provider charges a fee or receives consideration ...
• Texas Finance Code Section 394.204 - Registration
  (a) A person, regardless of whether located in this state, may not provide a debt management service to a consumer in this state unless the ...
• Texas Finance Code Section 394.205 - Records
  (a) A provider shall keep and use books, accounts, and other records that will enable the commissioner to determine if the provider is complying with ...
• Texas Finance Code Section 394.206 - Bond; Insurance
  (a) A provider shall, at the time the provider files an initial or renewal registration application with the commissioner, file: (1) a surety bond; or ...
• Texas Finance Code Section 394.207 - Advertising
  A provider may not engage in false or deceptive advertising. Added by Acts 2005, 79th Leg., ch. 336, § 1, eff. Sept. 1, 2005. ...
• Texas Finance Code Section 394.208 - Required Actions By Provider
  (a) A provider may not enroll a consumer in a debt management plan unless: (1) the provider is a nonprofit organization exempt from taxation under ...
• Texas Finance Code Section 394.209 - Written Debt Management Services Agreement
  (a) A debt management services provider may not prepare a debt management services agreement before the provider has fully complied with Sections 394.208(a) and (b). ...
• Texas Finance Code Section 394.210 - Permitted Fees
  (a) With respect to the provision of a debt management plan service, a provider may not impose a fee or other charge on a consumer, ...
• Texas Finance Code Section 394.211 - Trust Account
  (a) A provider must use a trust account for the management of all money paid by or on behalf of a consumer for disbursement to ...
• Texas Finance Code Section 394.212 - Prohibited Acts And Practices
  (a) A provider may not: (1) purchase a debt or obligation of a consumer; (2) receive or charge a fee in the form of a ...
• Texas Finance Code Section 394.213 - Duties Of Proper Management
  A provider has a duty to a consumer who receives debt management services from the provider to ensure that client money is managed properly at ...
• Texas Finance Code Section 394.214 - Additional Enforcement Powers
  (a) The finance commission may adopt rules to carry out this subchapter. (b) The commissioner may: (1) investigate the activities of a person subject to ...
• Texas Finance Code Section 394.215 - Private Remedies
  (a) An agreement for debt management services between a consumer and a person that is not registered under this subchapter is void. (b) A consumer ...
• Texas Finance Code Section 395.001 - Composition
  The community reinvestment work group is composed of: (1) a representative of the comptroller's office, appointed by the comptroller; (2) a representative of the Texas ...
• Texas Finance Code Section 395.002 - Officers
  The representative of the comptroller's office serves as presiding officer of the work group. The members of the work group may elect other necessary officers. ...
• Texas Finance Code Section 395.003 - Meetings
  The work group shall meet quarterly and may meet more often at the call of the presiding officer. Added by Acts 1999, 76th Leg., ch. ...
• Texas Finance Code Section 395.004 - Term Of Office; Removal
  A member of the work group serves a two-year term and may be removed for any reason by the appointing authority. Added by Acts 1999, ...
• Texas Finance Code Section 395.005 - Expenses; Compensation
  The appointing authority is responsible for the expenses of a member's service on the work group. A member of the work group receives no additional ...
• Texas Finance Code Section 395.101 - General Duties
  The work group shall work in conjunction with the banking community in this state to: (1) develop statewide community reinvestment strategies using existing investment pools ...
• Texas Finance Code Section 395.102 - Developing Strategies
  In developing the strategies required by Section 395.101, the work group shall: (1) explore innovative qualified investment strategies; (2) ensure to the extent possible that ...
• Texas Finance Code Section 396.001 - Definitions
  In this chapter: (1) "Child support enforcement" means an action, conduct, or practice in enforcing, or in soliciting for enforcement, a child support obligation, including ...
• Texas Finance Code Section 396.051 - Administrative And Rulemaking Authority
  (a) The department shall administer this chapter. (b) The Finance Commission of Texas shall adopt rules as necessary for the administration of this chapter. Added ...
• Texas Finance Code Section 396.052 - Filing Fee
  (a) The department shall charge each applicant for a certificate of registration, or renewal of a certificate, a nonrefundable fee of $500 for each certificate. ...
• Texas Finance Code Section 396.053 - Cost Of Regulation
  The department may charge each registered private child support enforcement agency an annual fee not to exceed $500 to cover the cost of enforcing this ...
• Texas Finance Code Section 396.101 - Registration Required
  Except as otherwise provided by this chapter, a private child support enforcement agency must register with the department to engage in child support enforcement in ...
• Texas Finance Code Section 396.102 - Recognition Of Authorization Issued By Another State
  (a) The department may waive any prerequisite to obtaining a registration for a foreign agency: (1) after reviewing the applicant's credentials and determining that the ...
• Texas Finance Code Section 396.103 - Application Requirements
  (a) An applicant for registration as a private child support enforcement agency must file with the department an application on a form and in the ...
• Texas Finance Code Section 396.104 - Financial And Other Disclosures
  The department shall require an applicant for registration or renewal of registration as a private child support enforcement agency to provide: (1) a certified financial ...
• Texas Finance Code Section 396.105 - Surety Bond Or Other Deposit Required
  (a) An application for registration must be accompanied by a surety bond approved by the department. (b) The surety bond must be: (1) issued by ...
• Texas Finance Code Section 396.106 - Issuance Of Certificate Of Registration
  (a) The department shall issue a certificate of registration and mail the certificate to the applicant on receipt of: (1) a completed application; (2) evidence ...
• Texas Finance Code Section 396.107 - Duty To Update Application Information
  A certificate holder shall notify the department of any material change in the information provided in an application for registration not later than the 60th ...
• Texas Finance Code Section 396.108 - Term Of Registration; Renewal
  (a) A private child support enforcement agency's certificate of registration expires on the third anniversary of the date of issuance. (b) A certificate of registration ...
• Texas Finance Code Section 396.151 - Application To Operate Under Other Authorization Instead Of Registration
  (a) To engage in business in this state, a foreign agency that is exempt from registration as prescribed by Section 396.102 may file an application ...
• Texas Finance Code Section 396.152 - Acceptance Of Other Authorization Instead Of Registration
  The department shall issue a certificate to operate under another state's authorization in this state to a foreign agency that files an application with the ...
• Texas Finance Code Section 396.153 - Notification Of Updated Information Or Change In Status Of Other Authorization
  Not later than the 30th day after the date on which the change occurs, a foreign private child support enforcement agency that is issued a ...
• Texas Finance Code Section 396.154 - Withdrawal Of Approval To Operate Under Other Authorization
  A holder of a certificate issued under this subchapter may not engage in business in this state as a private child support enforcement agency if ...
• Texas Finance Code Section 396.201 - Registration Prerequisite To Suit
  A private child support enforcement agency may not bring an action to enforce a child support obligation in this state unless the agency is registered ...
• Texas Finance Code Section 396.202 - Records
  (a) A registered agency shall maintain records of all child support collections made on behalf of, and disbursed to, a client who is an obligee, ...
• Texas Finance Code Section 396.203 - Contract For Services
  (a) A registered agency and foreign agency authorized to engage in business under this chapter shall execute a written contract for the enforcement of child ...
• Texas Finance Code Section 396.251 - Threats Or Coercion
  (a) In enforcing a child support obligation, a registered agency may not use threats, coercion, or attempts to coerce that employ any of the following ...
• Texas Finance Code Section 396.252 - Fraudulent, Deceptive, Or Misleading Representations
  In enforcing a child support obligation, a registered agency or employee of the agency may not: (1) identify the registered agency by any name other ...
• Texas Finance Code Section 396.301 - Revocation Of Registration
  (a) After notice and hearing, the department may revoke the registration of a registered agency that: (1) fails to comply with this chapter or a ...
• Texas Finance Code Section 396.302 - Administrative Hearing On Denial, Suspension, Or Revocation Of Registration
  (a) The department may not deny or suspend the registration of a private child support enforcement agency under this chapter without first conducting an administrative ...
• Texas Finance Code Section 396.303 - Bona Fide Error
  A registered agency does not violate this chapter if the action complained of resulted from a bona fide error that occurred notwithstanding the use of ...
• Texas Finance Code Section 396.304 - Administrative Investigation Of Complaint
  (a) A person may file with the department a written complaint against a registered agency for a violation of this chapter. (b) Not later than ...
• Texas Finance Code Section 396.351 - Civil Action
  (a) In addition to any other remedy provided by this chapter, a person may bring an action for: (1) injunctive relief to enjoin or restrain ...
• Texas Finance Code Section 396.352 - Service Of Process Outside State
  (a) A registered agency that is located in another state or a private child support enforcement agency that engages in the business of child support ...

Last modified: August 11, 2007