Texas Finance Code Title 2, Chapter 15 - Credit Union Commission And Department

SUBCHAPTER A GENERAL PROVISIONS

SUBCHAPTER B DEPARTMENT

• Texas Section 15.001 - Definitions
  (a) In this chapter, "Texas trade association" means a cooperative and voluntarily joined statewide association of business or professional competitors in this state designed to...
• Texas 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, Sec....
• Texas 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, Sec....

SUBCHAPTER C COMPOSITION OF COMMISSION

• Texas 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, Sec....
• Texas 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 Section 15.202 - General Qualifications Of Commission Members
  (a) No two commission members may be residents of the same state senatorial district. (b) A person may not be a member of the commission...
• Texas 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 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 Section 15.2041 - Training Program
  (a) A person who is appointed to and qualifies for office as a member of the commission may not vote, deliberate, or be counted as...
• Texas 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 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 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 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 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 Section 15.210 - Presiding Officer
  The governor shall designate a member of the commission as the presiding officer of the commission to serve in that capacity at the pleasure of...
• Texas 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...

SUBCHAPTER D COMMISSIONER AND OTHER EMPLOYEES OF COMMISSION

• Texas Section 15.212 - Sunset Provision
  The Credit Union Department and the Credit Union Commission are subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided...
• Texas 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 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 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 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 Section 15.305 - General Counsel
  A person may not act as the general counsel to the commission or the department if the person is required to register as a lobbyist...
• Texas 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 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 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 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 Section 15.311 - Qualifications Of Employees
  A person may not be a department employee employed in a "bona fide executive, administrative, or professional capacity," as that phrase is used for purposes...
• Texas 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...

SUBCHAPTER E POWERS AND DUTIES OF COMMISSION AND COMMISSIONER

• Texas 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 Section 15.401 - Supervision Of Commissioner
  The commission shall supervise, consult with, and advise the commissioner. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
• Texas Section 15.4011 - Credit Union Department Building
  The commission shall have charge and control of the property known as the Credit Union Department Building and use of staff, equipment, and facilities of...
• Texas 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 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 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 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 Section 15.4025 - Negotiated Rulemaking And Alternative Dispute Resolution Policy
  (a) The commission shall develop and implement a policy to encourage the use of: (1) negotiated rulemaking procedures under Chapter 2008, Government Code, for the...
• Texas Section 15.403 - Supervision And Regulation Of Credit Unions
  (a) The commissioner shall supervise and regulate a credit union doing business in this state, other than a federal credit union, in accordance with this...
• Texas 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 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 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 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 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 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 Section 15.4044 - Fees
  The department may charge a late fee against a credit union for late payment of its operating fees. Added by Acts 2009, 81st Leg., R.S.,...
• Texas 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, Sec. 1, eff. Sept. 1, 1997.
• Texas 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, Sec. 1, eff. Sept....
• Texas 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 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 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 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 Section 15.4105 - Annual Report To Members
  (a) The commission shall adopt, and the commissioner shall enforce, reasonable rules requiring a credit union regulated under this chapter and Subtitle D, Title 3,...
• Texas 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 Section 15.4111 - Regulatory Coordination
  To ensure effective coordination among and between the department and other state and federal agencies, the commissioner and those agencies may enter into cooperative, coordinating,...
• Texas 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 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 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 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...

SUBCHAPTER F RULES REGARDING USE OF ADVISORY COMMITTEES

• Texas Section 15.416 - Use Of Technology
  The commission shall implement a policy requiring the department to use appropriate technological solutions to improve the department's ability to perform its functions. The policy...
• Texas Section 15.501 - Rulemaking Authority
  (a) The commission shall adopt rules, in compliance with Section 15.407 and Chapter 2110, Government Code, regarding the purpose, structure, and use of advisory committees...
• Texas Section 15.502 - Periodic Evaluation
  The commission shall by rule establish a process by which the commission shall periodically evaluate an advisory committee to ensure its continued necessity. The commission...
• Texas Section 15.503 - Compliance With Open Meetings Act
  Sec. 15.503. COMPLIANCE WITH OPEN MEETINGS ACT.A commission advisory committee must comply with Chapter 551, Government Code. Added by Acts 2009, 81st Leg., R.S., Ch....

Last modified: September 28, 2016