reglab/housing_qa huggingface dataset:
TX Fin Code § 119.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 119 - Miscellaneous Provisions Applicable to Savings Banks|Subchapter A. General Miscellaneous Provisions|Section 119.003. Acknowledgment or Proof Taken by Member, Stockholder, or Employee of Savings Bank

Sec. 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 a shareholder in, a savings bank or federal savings bank is not disqualified because of that relationship to the savings bank or federal savings bank from taking an acknowledgment or proof of a written instrument in which a savings bank or federal savings bank is interested.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 119.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 119 - Miscellaneous Provisions Applicable to Savings Banks|Subchapter A. General Miscellaneous Provisions|Section 119.004. Rendition of Certain Personal Property for Ad Valorem Taxation

Sec. 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, equipment, and automobiles, as a whole at the value remaining after deducting the following from the total value of its entire assets:(1)  all debts that it owes;(2)  all tax-free securities that it owns;(3)  its loss reserves and surplus;(4)  its deposit liability;  and(5)  the appraised value of its furniture, fixtures, and real property.(b)  The domestic savings bank or federal savings bank shall render the personal property, other than furniture, fixtures, equipment, and automobiles, to the chief appraiser of the appraisal district in the county in which its principal office is located.(c)  Furniture, fixtures, equipment, and automobiles of a domestic savings bank or federal savings bank shall be rendered and valued for ad valorem taxation as provided by the Tax Code.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 119.005 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 119 - Miscellaneous Provisions Applicable to Savings Banks|Subchapter A. General Miscellaneous Provisions|Section 119.005. State Taxation of Savings Banks

Sec. 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 a corresponding savings and loan association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 119.006 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 119 - Miscellaneous Provisions Applicable to Savings Banks|Subchapter A. General Miscellaneous Provisions|Section 119.006. Initiation of Rulemaking by Savings Banks

Sec. 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 in writing requesting the adoption, amendment, or repeal of a rule.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 64, eff. Sept. 1, 2001.|
TX Fin Code § 119.007 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 119 - Miscellaneous Provisions Applicable to Savings Banks|Subchapter A. General Miscellaneous Provisions|Section 119.007. Exemption From Securities Laws

Sec. 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 a security under The Securities Act (Title 12, Government Code).  A security of these savings banks, other than an interest in the deposit liability of a savings bank, is not subject to the registration requirements of that Act.  A person whose principal occupation is being an officer of a savings bank is exempt from the registration and licensing provisions of that Act with respect to that person's participation in a sale or other transaction involving securities of the savings bank of which the person is an officer.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.13, eff. January 1, 2022.|
TX Fin Code § 119.008 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 119 - Miscellaneous Provisions Applicable to Savings Banks|Subchapter A. General Miscellaneous Provisions|Section 119.008. Liability of Commissioner and Other Commission Personnel; Defense by Attorney General

Sec. 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 Department of Savings and Mortgage Lending is not personally liable for damages arising from the person's official act or omission unless the act or omission is corrupt or malicious.(b)  The attorney general shall defend an action brought against a person described by Subsection (a) because of the person's official act or omission without regard to whether the person is an officer or employee of the department at the time the action is initiated.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.050, eff. September 1, 2007.|
TX Fin Code § 119.101 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 119 - Miscellaneous Provisions Applicable to Savings Banks|Subchapter B. Access to and Disclosure of Certain Information|Section 119.101. Access to Books and Records of Savings Bank

Sec. 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 96.054-96.057;(2)  a person authorized to act for the savings bank;(3)  an agent of a governmental agency that has insured the deposit accounts of the savings bank;(4)  a borrower or deposit account holder of the savings bank, in accordance with Subsection (b);  or(5)  for a capital stock savings bank, a stockholder of the capital stock savings bank, in accordance with Subsection (c).(b)  A borrower or deposit account holder of a savings bank is entitled to examine only the books and records of the savings bank that relate to the person's loan or deposit account.(c)  A stockholder of a capital stock savings bank has the same right to examine the relevant books and records of a savings bank as a shareholder of a business corporation under the Texas Business Corporation Act.(d)  A person is entitled to a partial or complete list of the stockholders of a stock savings bank or of the members of a mutual savings bank only if expressly permitted by the board of directors of the savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 119.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 119 - Miscellaneous Provisions Applicable to Savings Banks|Subchapter B. Access to and Disclosure of Certain Information|Section 119.102. Production and Admissibility of Items of Savings Bank in Judicial Proceeding

Sec. 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 files of a savings bank are not admissible as evidence in any proceeding concerning the validity of a tax assessment or the collection of delinquent taxes, penalties, and interest, unless:(1)  a stockholder or deposit account holder is a proper party to the proceeding, in which event a book, file, or record pertaining to the account of the party is admissible;  or(2)  the savings bank is a proper party to the proceeding, in which event a book, file, or record material to the proceeding is admissible.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 119.201 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 119 - Miscellaneous Provisions Applicable to Savings Banks|Subchapter C. Offenses and Penalties|Section 119.201. Administrative Penalty for Failing to Comply With Subtitle

Sec. 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 of Savings and Mortgage Lending an administrative penalty not to exceed $10,000 for each day that the violation occurs after notice of the violation is given by the commissioner.(b)  On the commissioner's certification that a savings bank has not paid a penalty assessed under this section, the attorney general may file suit to collect the penalty.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 3.04, eff. September 1, 2005.Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.051, eff. September 1, 2007.|
TX Fin Code § 119.202 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 119 - Miscellaneous Provisions Applicable to Savings Banks|Subchapter C. Offenses and Penalties|Section 119.202. Criminal Slander or Libel

Sec. 119.202.  CRIMINAL SLANDER OR LIBEL.  (a)  A person commits an offense if the person:(1)  knowingly makes, utters, circulates, or transmits to another person a statement that is untrue and derogatory to the financial condition of a savings bank; or(2)  with intent to injure a savings bank counsels, aids, procures, or induces another person to originate, make, utter, transmit, or circulate a statement or rumor that is untrue and derogatory to the financial condition of the savings bank.(b)  An offense under Subsection (a) is a state jail felony.|Added by Acts 2013, 83rd Leg., R.S., Ch. 464 (S.B. 1008), Sec. 14, eff. September 1, 2013.|
TX Fin Code § 122.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter A. Incorporation Requirements|Section 122.001. Application to Incorporate

Sec. 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)  a majority are residents of this state;(3)  each has subscribed for at least 10 shares;  and(4)  all share the definable community of interest stated in the articles of incorporation.(b)  The incorporators shall file with the commissioner:(1)  an application in a form prescribed by the commission;  and(2)  filing fees required and set by the commission.(c)  The application must contain:(1)  two copies of the articles of incorporation, which must state:(A)  the name of the credit union;(B)  the municipality and county where the credit union's principal place of business is to be located;(C)  that the credit union's term of existence is perpetual;(D)  that the credit union's fiscal year is the calendar year;(E)  the initial share accounts;(F)  the name and address of, and the number of shares subscribed by, each incorporator;(G)  the number of directors constituting the initial board and the name and address of each person who will serve as director until the first annual meeting or until a successor is elected and qualified;  and(H)  the definable community of interest shared by the members of the credit union at the time of incorporation;(2)  two copies of the standard bylaws for the general operation of the credit union;  and(3)  a business plan covering three years and providing a detailed explanation of actions intended to accomplish the primary functions of the credit union.(d)  Repealed by Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 7, eff. September 1, 2021.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 8, eff. Sept. 1, 2003.Amended by: Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 7, eff. September 1, 2021.|
TX Fin Code § 122.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter A. Incorporation Requirements|Section 122.002. Standard Articles of Incorporation and Bylaws

Sec. 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 be made available without charge to a person desiring to organize a credit union.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 122.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter A. Incorporation Requirements|Section 122.003. Corporate Name; Criminal Penalty

Sec. 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 an acronym made up of initials of the appropriate descriptive word or words and ending in "CU," approved by the commissioner.(b)  Unless a credit union is formed by merger or consolidation, the commissioner may not issue a certificate of incorporation to the credit union or approve the change of the name of the credit union if it would have the same name as another credit union or a name so nearly resembling the name of another credit union as to be calculated to deceive.(c)  A person who is not a credit union authorized to do business in this state under this subtitle or the Federal Credit Union Act (12 U.S.C. Section 1751 et seq.), or an organization, corporation, or association the membership or ownership of which is primarily confined to credit unions or credit union organizations, may not do business under or use a name or title containing the words "credit union" or any derivation of that term that:(1)  indicates or reasonably implies that the person carries on or transacts the kind of business carried on or transacted by a credit union;  or(2)  is calculated to lead a person to believe that the business being conducted is the type of business carried on or transacted by a credit union.(d)  A person who violates Subsection (c) commits a Class A misdemeanor.(e)  The commissioner may petition a court to enjoin a violation of this section.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 157, Sec. 6, eff. Sept. 1, 1999;  Acts 2003, 78th Leg., ch. 533, Sec. 9, eff. Sept. 1, 2003.|
TX Fin Code § 122.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter A. Incorporation Requirements|Section 122.004. Investigation by Commissioner

Sec. 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.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 122.005 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter A. Incorporation Requirements|Section 122.005. Procedure for Certain Approvals

Sec. 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 approval of an amendment to a credit union's articles of incorporation under Section 122.011, including an amendment to expand the credit union's field of membership;  and(3)  a merger or consolidation under Subchapter D.(b)  Before approving a request to which this section applies, the commissioner shall submit notice of the request to the secretary of state for publication in the Texas Register.  The commission by rule shall provide for other appropriate public notice of the request.  The commissioner may waive the requirements of this subsection or permit delayed public notice on a determination that waiver or delay is in the public interest.  If the requirements of this subsection are waived, the information that would be contained in a public notice becomes public information under Chapter 552, Government Code, on the 35th day after the date the request is made.(c)  Before making a determination on a request to which this section applies, the commissioner must accept comment from any interested party that wishes to comment.  This comment may be in the form of written testimony or may be provided at a meeting with the commissioner held for the purpose of receiving the comment.  This meeting shall be held if requested by any interested party.  The commissioner may hold the meeting regardless of whether an interested party requests the meeting.  The commission may establish reasonable rules governing the circumstances and conduct of the meeting.  Chapter 2001, Government Code, does not apply to the meeting.  Not later than the 60th day after the date the notice is published in the Texas Register, or if the notice is not published, after the date the request is received, the commissioner shall approve or disapprove the application.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.01(a), eff. Sept. 1, 1999.|
TX Fin Code § 122.006 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter A. Incorporation Requirements|Section 122.006. Decision on Application to Incorporate; Issuance of Certificate

Sec. 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 and rules adopted under this chapter;  and(2)  from information furnished with the application, the results of any investigation, the evidence submitted at any hearing, and information in the department's official records, that:(A)  the character and general fitness of the incorporators and the members of the initial board warrant belief that the credit union's business and affairs will be properly administered in accordance with this subtitle and rules adopted under this subtitle;(B)  the character and size of the field of membership to be served by the credit union conform with this subtitle and rules adopted under this subtitle and favor the credit union's economic viability;  and(C)  the incorporators and the members of the initial board are acting in good faith and are making the application in accordance with the purposes of this subtitle.(b)  In addition to the determinations made under Subsection (a) and in accordance with commission rules, the commissioner shall consider the effect of overlapping fields of membership on the applicant credit union and existing state or federal credit unions doing business in this state.  The commissioner may consider the availability and adequacy of financial services in the local community and the effect that the incorporation of the credit union would have on the local community.  As a condition of approval of the application, the commissioner may require the applicant credit union to limit or eliminate overlaps, in accordance with the rules, to achieve the purposes of this subtitle and promote the welfare and stability of those credit unions.(c)  The commissioner by written order shall state the determinations required by Subsection (a) and approve or deny the application.  The commissioner may make approval of an application conditional and shall include any conditions in the order approving the application.(d)  An order of the commissioner or commission shall be promptly mailed to the incorporators by registered or certified mail.(e)  After the commissioner in the absence of an appeal or the commission after the conclusion of an appeal approves the application, the commissioner shall:(1)  issue a certificate of incorporation;(2)  deliver copies of the approved articles of incorporation and bylaws to the incorporators;  and(3)  retain copies of those documents in the department's permanent files.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.01(b), eff. Sept. 1, 1999;  Acts 2003, 78th Leg., ch. 533, Sec. 10, eff. Sept. 1, 2003.|
TX Fin Code § 122.007 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter A. Incorporation Requirements|Section 122.007. Appeal to Commission

Sec. 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 be appealed to the commission not later than the 60th day after the date of the order.(c)  After reviewing information or evidence the commission considers necessary or relevant, the commission by written order shall affirm or reverse the commissioner's decision.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 122.008 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter A. Incorporation Requirements|Section 122.008. Effect of Issuance of Certificate of Incorporation

Sec. 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 have complied with this subtitle  and that the credit union is incorporated under this chapter.(c)  Acceptance of a certificate of incorporation by the credit union is conclusive evidence that the credit union is authorized to do business under this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 4, eff. September 1, 2013.|