Art. 59.14. NOTICE TO PRIMARY STATE AND FEDERAL FINANCIAL INSTITUTION REGULATORS. (a) Before taking any action under this chapter that implicates a potentially culpable officer or director of a regulated financial institution, the attorney representing the state shall notify the banking commissioner, who shall notify the appropriate state or federal financial institution regulator.
(b) A state or federal financial institution regulator shall keep confidential any information provided by the attorney representing the state under Subsection (a).
(c) A regulator described by Subsection (b) commits an offense if the regulator knowingly discloses information in violation of this article. An offense under this subsection is punishable by confinement in jail for a period not to exceed 30 days, a fine not to exceed $500, or both such confinement and fine.
(d) The provision of notice under Subsection (a) is not considered a waiver by the state of any privilege or claim of confidentiality.
Added by Acts 2001, 77th Leg., ch. 438, Sec. 5, eff. Sept. 1, 2001.
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