reglab/housing_qa huggingface dataset:
TX Fin Code § 92.610 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter M. Limited Savings Bank|Section 92.610. Amendment of Governing Documents

Sec. 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 special meeting called for that purpose unless the certificate of formation requires a higher percentage.(b)  If provided in the governing documents, the company agreement of a limited savings bank may be amended by a majority vote of the board of managers unless the governing documents require a higher percentage.  In the absence of an express provision in the governing documents, the company agreement may be amended by a majority vote of the members cast at any annual meeting or special meeting called for that purpose.(c)  An amendment to the governing documents may not take effect before it is filed with and approved by the commissioner.|Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.15, eff. September 1, 2005.|
TX Fin Code § 92.611 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter M. Limited Savings Bank|Section 92.611. Application of Other Provisions to Limited Savings Banks; Miscellaneous Provisions

Sec. 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 subchapter and a provision of this subtitle, this subchapter controls unless the finance commission by rule provides that this subtitle controls.(b)  For purposes of provisions of this chapter other than this subchapter, as the context requires:(1)  a manager is considered to be a director and the board of managers is considered to be the board of directors;(2)  a member is considered to be a shareholder; and(3)  a distribution is considered to be a dividend.(c)  A reference in a statute or rule to a savings bank includes a savings bank organized as a limited savings bank unless the context clearly requires that a limited savings bank is not included within the term or the provision contains express language excluding a limited savings bank.(d)  In this subchapter, "governing document" means a limited savings bank's certificate of formation or company agreement.|Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.15, eff. September 1, 2005.|
TX Fin Code § 94.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter A. Limitations on Loans|Section 94.001. Loans to One Borrower

Sec. 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 associations under Section 5(u), Home Owners' Loan Act (12 U.S.C. Section 1464(u)).(b)  A savings bank may not make loans to one borrower to a greater extent than:(1)  permitted by rule adopted under Subsection (a);  or(2)  a savings association is permitted under Section 5(u), Home Owners' Loan Act (12 U.S.C. Section 1464(u)).|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 53, eff. Sept. 1, 2001.|
TX Fin Code § 94.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter A. Limitations on Loans|Section 94.002. Commercial Loans

Sec. 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 total assets in commercial loans.(b)  In this section, "commercial loan" means a loan that:(1)  is for business, commercial, corporate, or agricultural purposes;(2)  is not a real property loan; and(3)  is not a qualified thrift asset under Section 92.204.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 54, eff. Sept. 1, 2001.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 464 (S.B. 1008), Sec. 10, eff. September 1, 2013.|
TX Fin Code § 94.051 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter B. Loan Expenses|Section 94.051. Borrower Payment of Loan Expenses

Sec. 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, or renewing a loan.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.052 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter B. Loan Expenses|Section 94.052. Consumer Loans

Sec. 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 the loan;  and(2)  an expense charged a borrower must be:(A)  necessary and proper for the protection of the lender;  and(B)  actually incurred in connection with making the loan.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.053 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter B. Loan Expenses|Section 94.053. Collection of Loan Expenses

Sec. 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;  or(B)  paid to a person rendering a service for which a charge was made, including an officer, director, or employee of the savings bank rendering the service;  or(2)  paid directly by the borrower to the person rendering the service.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.054 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter B. Loan Expenses|Section 94.054. Character of Loan Expense Payments

Sec. 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 Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.101 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter C. Loan Payments|Section 94.101. Penalty for Prepayment or Late Payment

Sec. 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, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter C. Loan Payments|Section 94.102. Application of Prepayments to Loan Installments

Sec. 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 installment is fully paid;  and(2)  additional prepayments to installments in the inverse order of their maturity.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.151 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter D. Charges Relating to Real Property Loans|Section 94.151. Advances Paid by Savings Bank

Sec. 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 a real property loan of the savings bank.(b)  A payment under Subsection (a) is an advance, and the savings bank may:(1)  carry the payment on the savings bank's books as an asset of the savings bank for which the savings bank may charge interest;  or(2)  add the payment to the unpaid balance of the loan to which it applies as of the first day of the month in which the payment is made.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.152 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter D. Charges Relating to Real Property Loans|Section 94.152. Advances Are Lien on Property

Sec. 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., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.153 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter D. Charges Relating to Real Property Loans|Section 94.153. Payment of Estimated Charges by Borrower

Sec. 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, in addition to interest and principal, an amount equal to one-twelfth of the estimated annual taxes, assessments, insurance premiums, and other charges on the real property that secures a loan.(b)  A savings bank may increase or decrease the amount of the loan payment as necessary to meet the charges.(c)  A savings bank may:(1)  carry the payments in trust in an account;  or(2)  credit the payments to the indebtedness and advance the money for charges as the charges become due.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.154 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter D. Charges Relating to Real Property Loans|Section 94.154. Record of Charges

Sec. 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 bank's loans.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.251 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter F. Investment in Equity Securities|Section 94.251. Limitations on Investment in Equity Securities

Sec. 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 adopted by the finance commission.(b)  A savings bank may not invest in an equity security unless the security is an eligible investment for a federal savings and loan association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 56, eff. Sept. 1, 2001.|
TX Fin Code § 94.252 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter F. Investment in Equity Securities|Section 94.252. Inapplicability of Limitations

Sec. 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 Association, the Federal Home Loan Mortgage Corporation, and the Student Loan Marketing Association;  or(2)  a service corporation, an operating subsidiary, or a finance subsidiary of the savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.253 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter F. Investment in Equity Securities|Section 94.253. Rules

Sec. 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 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 57, eff. Sept. 1, 2001.|
TX Fin Code § 94.301 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter G. Investment in Subsidiaries|Section 94.301. Authorization

Sec. 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 created under general corporation law.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 58, eff. Sept. 1, 2001.|
TX Fin Code § 94.302 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter G. Investment in Subsidiaries|Section 94.302. Limitation on Investment in Subsidiaries

Sec. 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 an amount equal to 10 percent of the savings bank's total assets.(b)  For the purposes of Subsection (a), a savings bank's aggregate investment in subsidiaries does not include amounts invested in a subsidiary corporation the activities of which are limited to activities that could be conducted directly by the parent savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.303 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter G. Investment in Subsidiaries|Section 94.303. Regulation and Examination of Subsidiary

Sec. 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 the cost of the regulation and examination.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.304 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter G. Investment in Subsidiaries|Section 94.304. Rules

Sec. 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 Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 59, eff. Sept. 1, 2001.|
TX Fin Code § 94.351 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter H. Property of Savings Bank|Section 94.351. Investment in Banking Premises

Sec. 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 property, including a building or related facility, a parking facility, or leasehold improvements for a rented facility, for use by the savings bank as its banking premises.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.352 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter H. Property of Savings Bank|Section 94.352. Form of Savings Bank Facility

Sec. 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 new form of savings bank facility if the commissioner does not have a significant supervisory or regulatory concern regarding the proposed facility.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 94.353 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 94 - Loans and Investments|Subchapter H. Property of Savings Bank|Section 94.353. Record of Charges on Real and Personal Property

Sec. 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 by the savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 95.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 95 - Deposit Accounts|Subchapter A. General Provisions|Section 95.001. Deposits

Sec. 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 of the deposit account holder.(c)  Unless the deposit contract expressly provides otherwise, a deposit must be payable on demand without notice.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 95.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 95 - Deposit Accounts|Subchapter A. General Provisions|Section 95.002. Limitations on Accounts

Sec. 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, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 95.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 95 - Deposit Accounts|Subchapter A. General Provisions|Section 95.003. Investment in Accounts

Sec. 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)  A person may invest in a deposit account in the person's own right or in a trust or other fiduciary capacity.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 95.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 95 - Deposit Accounts|Subchapter A. General Provisions|Section 95.004. Deposit Contract

Sec. 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(2)  the conditions on which withdrawals may be made.(b)  The savings bank shall hold the deposit contract in the records pertaining to the account.(c)  A deposit contract pertaining to a deposit account of a public or governmental entity must provide that the holder of the account may not become a member of the savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 95.005 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 95 - Deposit Accounts|Subchapter A. General Provisions|Section 95.005. Account Ownership

Sec. 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 as the owner of the account for all purposes and is unaffected by notice to the contrary.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 95.006 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 95 - Deposit Accounts|Subchapter A. General Provisions|Section 95.006. Transfer of Account

Sec. 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 transfer satisfactory to the savings bank;  and(2)  an application for transfer by the transferee.(b)  A transferee accepts an account subject to the terms of the:(1)  deposit contract;  and(2)  savings bank's charter and bylaws.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 95.007 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 95 - Deposit Accounts|Subchapter A. General Provisions|Section 95.007. Interest or Dividends Paid on Accounts

Sec. 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 by the savings bank's board.(b)  A savings bank shall compute and pay interest and dividends according to rules adopted by the finance commission.(c)  A savings bank shall credit interest or a dividend to a deposit account on the savings bank's books unless the account holder requests and the savings bank agrees that the savings bank will pay interest or dividends on the account in cash.(d)  A savings bank may pay a cash dividend by check or bank draft.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 60, eff. Sept. 1, 2001.|
TX Fin Code § 95.008 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 95 - Deposit Accounts|Subchapter A. General Provisions|Section 95.008. Redemption of Deposit Account

Sec. 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 the savings bank:(1)  not later than the 31st day before the redemption date, gives notice of the redemption by certified mail to each affected account holder at the holder's last address as recorded on the books of the savings bank;  and(2)  not later than the redemption date, sets aside the amount necessary for the redemption and keeps the amount available for redemption.(b)  Redemption of deposit accounts must be on a nondiscriminatory basis.(c)  The redemption price of a deposit account is the withdrawal value of the account.(d)  All rights, including the accrual of earnings, that relate to a deposit account called for redemption, other than the right of the account holder of record to receive the redemption price, terminate as of the redemption date.(e)  A savings bank may not redeem any of its deposit accounts if the savings bank is subject to a supervisory control or conservatorship action under Chapter 96, unless the commissioner directs the redemption.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|