reglab/housing_qa huggingface dataset:
TX Fin Code § 32.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter B. Amendment of Certificate; Changes in Capital and Surplus|Section 32.102. Establishing Series of Shares

Sec. 32.102.  ESTABLISHING SERIES OF SHARES.  (a)  If the certificate of formation expressly gives the board of a state bank authority to establish shares in series and determine the preferences, limitations, and relative rights of each series, the board may do so only in compliance with this section and any rules adopted under this subtitle.(b)  A series of shares may be established in the manner provided by the Business Organizations Code, but the shares of the series may not be issued and sold without the prior written approval of the banking commissioner under Section 32.103.  The bank shall file the original and one copy of the statement of action required by the Business Organizations Code with the banking commissioner.(c)  Unless the submission presents novel or unusual questions, the banking commissioner shall approve or reject the series not later than the 31st day after the date the banking commissioner considers the submission informationally complete and accepted for filing.  The banking commissioner may require the submission of additional information as considered necessary to an informed decision to approve or reject a proposed series under this section.(d)  If the banking commissioner finds that the interests of depositors and creditors will not be adversely affected by the series, that the series conforms to law and any conditions imposed by the banking commissioner, and that any required filing fee has been paid, the banking commissioner shall:(1)  endorse the face of the original and copy of the statement with the date of approval and the word "Approved";(2)  file the original of the statement in the department's records;  and(3)  deliver a certified copy of the statement to the state bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 14, eff. September 1, 2007.Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 15, eff. September 1, 2007.Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 7, eff. June 14, 2013.|
TX Fin Code § 32.103 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter B. Amendment of Certificate; Changes in Capital and Surplus|Section 32.103. Change in Outstanding Capital and Surplus

Sec. 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 otherwise, without the prior written approval of the banking commissioner, except as permitted by this section or rules adopted under this subtitle.(b)  Unless restricted by rule, prior written approval is not required for an increase in capital and surplus accomplished through:(1)  issuance of shares of common stock for cash, or a cash contribution to surplus by shareholders that does not result in issuance of additional common stock or other securities;(2)  declaration and payment of pro rata share dividends as defined by the Business Organizations Code; or(3)  adoption by the board of a resolution directing that all or part of undivided profits be transferred to capital or surplus.(c)  Prior approval is not required for:(1)  a decrease in capital or surplus caused by losses in excess of undivided profits; or(2)  a change in capital and surplus resulting from accounting adjustments required by a transaction approved by the banking commissioner if the accounting adjustments are reasonably disclosed in the submitted application.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 16, eff. September 1, 2007.Acts 2007, 80th Leg., R.S., Ch. 735 (H.B. 2754), Sec. 4, eff. September 1, 2007.|
TX Fin Code § 32.104 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter B. Amendment of Certificate; Changes in Capital and Surplus|Section 32.104. Capital Notes or Debentures

Sec. 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 action of its shareholders, issue and sell its capital notes or debentures.  The capital notes or debentures must be subordinate to the claims of depositors and may be subordinate to other claims, including the claims of other creditors or the shareholders.(b)  Capital notes or debentures may be convertible into shares of any class or series.  The issuance and sale of convertible capital notes or debentures are subject to satisfaction of preemptive rights, if any, to the extent provided by law.(c)  Without the prior written approval of the banking commissioner, a state bank may not pay interest due or principal repayable on outstanding capital notes or debentures when the bank is in hazardous condition or is insolvent, or to the extent that payment will cause the bank to be in hazardous condition or insolvent, as determined by the banking commissioner.(d)  The amount of any outstanding capital notes or debentures that meet the requirements of this section and that are subordinated to unsecured creditors of the bank may be included in equity capital of the bank for purposes of determining hazardous condition or insolvency and for other purposes provided by rules adopted under this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 17, eff. September 1, 2007.|
TX Fin Code § 32.201 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter C. Bank Offices|Section 32.201. Conduct of the Business of Banking

Sec. 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 drive-in facility must be approved as a branch if it is more than 2,000 feet from the nearest wall of the bank's home office or another approved branch office.(b)  A function of a state bank that does not involve banking contact with the public may be conducted at any location without prior written approval of the banking commissioner.  The finance commission may adopt rules further defining functions of a state bank that are not required to be conducted at an approved location.(c)  The finance commission by rule under Section 32.009 may authorize a new form of banking facility.  The banking commissioner may approve a new form of banking facility other than as provided by this subchapter if the banking 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 § 32.202 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter C. Bank Offices|Section 32.202. Home Office

Sec. 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 bank does business with the public and keeps its corporate books and records.  At least one officer of the bank must maintain an office at the home office. (b)  A state bank may change its home office to one of its previously established branch locations in this state, if the location that is the home office before the change is to remain as a branch of the bank, by filing a written notice with the banking commissioner.  The notice must set forth the name of the bank, the street address of its home office before the change, the street address of the location to which the home office is to be changed, and a copy of the resolution adopted by the bank's board authorizing the change.  The change of home office takes effect on the 31st day after the date the banking commissioner receives the notice unless the banking commissioner consents to a different effective date.(c)  A state bank may change its home office to any location in this state, other than as permitted by Subsection (b), on prior written approval of the banking commissioner.  The banking commissioner shall grant an application under this subsection if the banking commissioner does not have a significant supervisory or regulatory concern regarding the proposed banking facility, the applicant, or an affiliate of the applicant.  Any standard established by the banking commissioner or the finance commission regarding the establishment of a branch under Section 32.203 applies to an application for a change of home office that is subject to this subsection, except as otherwise provided by rules adopted under this subtitle.(d)  If the proposed relocation of the bank's home office would effect an abandonment of all or part of the community served by the bank, the bank must establish to the satisfaction of the banking commissioner that the abandonment is consistent with the original determination of public necessity for the establishment of a bank at that location.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.007, eff. Sept. 1, 1999.Amended by: Acts 2007, 80th Leg., R.S., Ch. 244 (H.B. 2219), Sec. 2, eff. September 1, 2007.|
TX Fin Code § 32.203 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter C. Bank Offices|Section 32.203. Branch Offices

Sec. 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 commissioner does not have a significant supervisory or regulatory concern regarding the proposed branch, the applicant, or an affiliate of the applicant, the banking commissioner shall approve the application.(b)  The finance commission may adopt rules establishing additional standards for the approval of branch offices.(c)  A state bank may not establish or maintain a branch on the premises or property of an affiliate if the affiliate engages in a commercial activity.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 217 (H.B. 944), Sec. 2, eff. May 25, 2007.|
TX Fin Code § 32.204 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter C. Bank Offices|Section 32.204. Deposit or Loan Production Offices

Sec. 32.204.  DEPOSIT OR LOAN PRODUCTION OFFICES.  (a)  A state bank may establish one or more deposit or loan production offices for the purpose of:(1)  soliciting deposit accounts, applications for loans, or equivalent transactions;(2)  performing ministerial duties related to solicitations described by Subdivision (1); and(3)  conducting other activities as permitted by rules adopted under this subtitle.(b)  The bank shall notify the banking commissioner in writing of the location of and activities to be conducted at a proposed deposit or loan production office of the bank. The bank may establish the proposed office beginning on the 31st day after the date the banking commissioner receives the bank's notice unless the banking commissioner specifies that the proposed office be established on an earlier or later date.(c)  The banking commissioner may extend the 30-day period prescribed by Subsection (b) on a determination that the bank's notice raises issues that require additional information or time for analysis.  If the period is extended, the bank may establish the proposed deposit or loan production office only with the prior written approval of the banking commissioner.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 412, Sec. 2.08, eff. Sept. 1, 2001.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 4, eff. June 14, 2013.|
TX Fin Code § 32.301 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter D. Merger|Section 32.301. Merger Authority

Sec. 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 state bank, may adopt and implement a plan of merger in accordance with this section.  The merger may not be made without the prior written approval of the banking commissioner if any surviving, new, or acquiring entity that is a party to the merger or created by the terms of the merger is a state bank or is not a financial institution.(b)  Implementation of the merger by the parties and approval of the board, shareholders, or owners of the parties must be made or obtained in accordance with the Business Organizations Code as if the state bank were a filing entity and all other parties to the merger were foreign entities, except as may be otherwise provided by applicable rules.(c)  A consummated merger has the effect provided by the Business Organizations Code.  A separate application is not required to relocate the home office of a surviving state bank or to grant authority to a surviving bank to operate new branch offices that previously existed as part of a merging financial institution if the intent of the surviving bank is clearly stated as part of the plan of merger.(d)  A merger under this subchapter does not confer additional powers on a state bank beyond the powers conferred by other provisions of this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 18, eff. September 1, 2007.Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 8, eff. June 14, 2013.|
TX Fin Code § 32.302 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter D. Merger|Section 32.302. Approval of Banking Commissioner

Sec. 32.302.  APPROVAL OF BANKING COMMISSIONER.  (a)  If the merger is subject to the prior written approval of the banking commissioner, the original certificate of merger and a number of copies of the certificate equal to the number of surviving, new, and acquiring entities must be filed with the banking commissioner.  On this filing, the banking commissioner shall investigate the condition of the merging parties.  The banking commissioner may require the submission of additional information the banking commissioner determines necessary to an informed decision to approve or reject a merger under this subchapter.(b)  The banking commissioner shall approve the merger only if:(1)  each resulting state bank:(A)  has complied with the laws of this state relating to the organization and operation of state banks;  and(B)  will be solvent and have adequate capitalization for its business and location;(2)  all deposit and other liabilities of each state bank that is a party to the merger have been properly discharged or otherwise assumed or retained by a financial institution;(3)  each surviving, new, or acquiring entity that is not a depository institution will not be engaged in the unauthorized business of banking, and each state bank will not be engaged in a business other than banking or a business incidental to banking;(4)  the parties have complied with the laws of this state;  and(5)  all conditions imposed by the banking commissioner have been satisfied or otherwise resolved.(c)  If the banking commissioner approves the merger and finds that all required filing fees and investigative costs have been paid, the banking commissioner shall:(1)  endorse the face of the original and each copy of the certificate of merger with the date of approval and the word "Approved";(2)  file the original of the certificate of merger in the department's records; and(3)  deliver a certified copy of the certificate of merger to each surviving, new, or acquiring entity.(d)  An approved merger takes effect on the date of approval unless the merger agreement provides for a different effective date.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 9, eff. June 14, 2013.|
TX Fin Code § 32.303 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter D. Merger|Section 32.303. Rights of Dissenters From Merger

Sec. 32.303.  RIGHTS OF DISSENTERS FROM MERGER.  A shareholder may dissent from the merger to the extent, and by following the procedure provided, by the Business Organizations Code or any rules adopted under this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 19, eff. September 1, 2007.|
TX Fin Code § 32.304 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter D. Merger|Section 32.304. Limitation on Control of Deposits

Sec. 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 of the resulting state bank, would control 20 percent or more of the total amount of deposits in this state held by all insured depository institutions in this state.(b)  On request of the banking commissioner the applicant shall provide supplemental information to the banking commissioner to aid in a determination under this section, including information that is more current than or in addition to information in the most recently available summary of deposits, reports of condition, or similar reports filed with or produced by state or federal authorities.(c)  In this section, "deposit" and "insured depository institution" have the meanings assigned by Section 3, Federal Deposit Insurance Act (12 U.S.C. Section 1813), as amended.|Added by Acts 1999, 76th Leg., ch. 344, Sec. 2.008, eff. Sept. 1, 1999.|
TX Fin Code § 32.401 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter E. Purchase or Sale of Assets|Section 32.401. Authority to Purchase Assets

Sec. 32.401.  AUTHORITY TO PURCHASE ASSETS.  (a)  A state bank may purchase assets from another financial institution or other seller, except that the prior written approval of the banking commissioner is required if the purchase price exceeds an amount equal to three times the bank's unimpaired capital and surplus.  The finance commission by rule may require a state bank to obtain the prior written approval of the banking commissioner for a transaction not otherwise subject to approval that involves potentially substantial risks to the safety and soundness of the purchasing bank.(b)  Except as otherwise expressly provided by another statute, the purchase of all or part of the assets of the selling entity does not make the purchasing bank responsible for any liability or obligation of the selling entity that the purchasing bank does not expressly assume.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 735 (H.B. 2754), Sec. 5, eff. September 1, 2007.|
TX Fin Code § 32.402 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter E. Purchase or Sale of Assets|Section 32.402. Authority to Act as Disbursing Agent

Sec. 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 a deposit to the credit of, the selling institution and may act as agent of the selling institution in disbursing the money in trust or on deposit by paying the depositors and creditors of the selling institution.(b)  If the purchasing bank acts under written contract of agency approved by the banking commissioner that specifically names each depositor and creditor and the amount to be paid each, and if the agency is limited to the purely ministerial act of paying those depositors and creditors the amounts due them as determined by the selling institution and reflected in the contract of agency and does not involve discretionary duties or authority other than the identification of the depositors and creditors named, the purchasing bank:(1)  may rely on the contract of agency and the instructions included in it;  and(2)  is not responsible for:(A)  any error made by the selling institution in determining its liabilities, the depositors and creditors to whom the liabilities are due, or the amounts due the depositors and creditors;  or(B)  any preference that results from the payments made under the contract of agency and the instructions included in it.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 32.403 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter E. Purchase or Sale of Assets|Section 32.403. Liquidation of Selling Institution

Sec. 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 regulatory agency, the purchasing bank shall pay to the receiver of the selling institution the balance of the money held by it in trust or on deposit for the selling institution and not yet paid to the depositors and creditors of the selling institution.  Without further action the purchasing bank is discharged from all responsibilities to the selling institution and to the selling institution's receiver, depositors, creditors, and shareholders.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 20, eff. September 1, 2007.|
TX Fin Code § 32.404 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 32 - Powers, Organization, and Financial Requirements|Subchapter E. Purchase or Sale of Assets|Section 32.404. Payment to Depositors and Creditors

Sec. 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 contract of agency by opening an account in the name of the depositor or creditor, crediting the account with the amount to be paid the depositor or creditor under the terms of the agency contract, and mailing or personally delivering a duplicate deposit ticket evidencing the credit to the depositor or creditor at the person's address shown in the records of the selling institution.  The relationship between the purchasing bank and the depositor or creditor is that of debtor to creditor only to the extent of the credit reflected by the deposit ticket.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|