reglab/housing_qa huggingface dataset:
TX Fin Code § 62.455 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter J. Merger of Subsidiary Corporation|Section 62.455. Inapplicability of Subchapter H

Sec. 62.455.  INAPPLICABILITY OF SUBCHAPTER H.  Subchapter H does not apply to a merger under this subchapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.501 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter K. Voluntary Liquidation|Section 62.501. Resolution to Liquidate and Dissolve; Approval by Commissioner

Sec. 62.501.  RESOLUTION TO LIQUIDATE AND DISSOLVE;  APPROVAL BY COMMISSIONER.  (a)  An association may liquidate and dissolve if:(1)  at an annual meeting or a special meeting called for that purpose, the members and shareholders by majority vote adopt a resolution to liquidate and dissolve;  and(2)  a copy of the resolution certified to by the president and the secretary of the association and an itemized statement of the association's assets and liabilities sworn to by a majority of its board is filed with and approved by the commissioner.(b)  On the approval by the commissioner of the resolution:(1)  the association may not accept additional savings accounts or additions to savings accounts or make additional loans;  and(2)  the association's income and receipts in excess of actual expenses of liquidation shall be applied to the discharge of its liabilities.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.502 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter K. Voluntary Liquidation|Section 62.502. Distribution of Assets

Sec. 62.502.  DISTRIBUTION OF ASSETS.  (a)  The board, under the commissioner's supervision and in accordance with the approved liquidation plan, shall liquidate the affairs of the association and reduce the association's assets to cash for the purpose of paying, satisfying, and discharging all existing liabilities and obligations of the association, including the withdrawal value of all savings accounts.(b)  The board shall distribute any remaining balance pro rata among the savings account members of record on the date the association adopted the resolution to liquidate.(c)  The board of a capital stock association shall distribute any assets remaining after liabilities and obligations are fully paid and satisfied, including the withdrawal value of savings accounts, among the shareholders according to their liquidation rights.(d)  The board shall pay from the assets of the association all expenses incurred by the commissioner and the commissioner's representatives during the course of the liquidation.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.503 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter K. Voluntary Liquidation|Section 62.503. Final Report and Accounting

Sec. 62.503.  FINAL REPORT AND ACCOUNTING.  (a)  On completion of the liquidation, the board shall file with the commissioner a final report and accounting of the liquidation.(b)  The commissioner's approval of the report is a complete and final discharge of the board and each member in connection with the liquidation of the association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.551 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.551. Inapplicability of Subchapter

Sec. 62.551.  INAPPLICABILITY OF SUBCHAPTER.  This subchapter does not apply to a conversion, reorganization, merger, consolidation, or voluntary liquidation under Subchapter E, F, G, H, J, or K.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.552 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.552. Effect of Subchapter on Other Law

Sec. 62.552.  EFFECT OF SUBCHAPTER ON OTHER LAW.  This subchapter does not:(1)  excuse or diminish the notice requirements prescribed by this subtitle;  or(2)  prevent the commissioner from investigating, commenting on, or seeking to enjoin or set aside a transfer of voting securities that the commissioner considers to be contrary to the public interest, regardless of whether the transfer is governed by this subchapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.553 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.553. Application for Change of Control

Sec. 62.553.  APPLICATION FOR CHANGE OF CONTROL.  (a)  Control of an association may be changed only if an application for approval of the change is filed with and approved by the commissioner.(b)  The application must be:(1)  on a form prescribed by the commissioner;(2)  sworn to;  and(3)  accompanied by the appropriate filing fee.(c)  Unless the commissioner expressly waives a requirement of this subsection, the application must contain:(1)  the identity, personal history, business background and experience, and financial condition of each person by whom or on whose behalf the acquisition is to be made, including a description of:(A)  the managerial resources and future prospects of each acquiring party;  and(B)  any material pending legal or administrative proceedings to which the person is a party;(2)  the terms of any proposed acquisition and the manner in which the acquisition is to be made;(3)  the identity, source, and amount of the money or other consideration used or to be used in making the acquisition and, if any part of the money or other consideration has been or will be borrowed or otherwise obtained for the purpose of making the acquisition, a description of the transaction, the names of the parties, and arrangements, agreements, or understandings with the parties;(4)  any plan or proposal of an acquiring party to liquidate the association, sell the association's assets, merge the association with another company, or make other major changes in the association's business or corporate structure or management;(5)  the terms of any offer, invitation, agreement, or arrangement under which a voting security will be acquired and any contract affecting that security or its financing after it is acquired;(6)  information establishing that the requirements under Section 62.555(b) are satisfied;  and(7)  other information:(A)  the finance commission by rule requires to be furnished in an application;  or(B)  the commissioner orders to be included in a particular application.(d)  The commissioner may require each member of a group proposing to acquire voting securities under this subchapter to provide the information required by the commissioner.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 26, eff. Sept. 1, 2001.|
TX Fin Code § 62.554 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.554. Application Filing Fee

Sec. 62.554.  APPLICATION FILING FEE.  (a)  The finance commission by rule shall adopt a schedule of fees for filing applications and holding hearings.  The schedule may be graduated so that an application or hearing that is more difficult to review or administer requires a larger fee.(b)  An application fee is not refundable if the application is denied.  The commissioner may refund a portion of the fee if the application is withdrawn before the commissioner completes reviewing the application.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.555 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.555. Denial of Application

Sec. 62.555.  DENIAL OF APPLICATION.  (a)  The commissioner by order shall deny an application unless the applicant establishes that:(1)  the acquisition would not:(A)  substantially lessen competition;(B)  restrain trade in a manner that would result in a monopoly;  or(C)  further a combination or conspiracy to monopolize or attempt to monopolize the savings and loan industry in any part of this state;(2)  the financial condition of an acquiring party would not jeopardize the financial stability of the association being acquired;(3)  the plan or proposal to liquidate or sell the association or any assets is in the best interest of the association;(4)  the experience, ability, standing, competence, trustworthiness, and integrity of the applicant are sufficient to ensure that the acquisition is in the best interest of the association;  and(5)  the association would be solvent, have adequate capital structure, and be in compliance with the laws of this state.(b)  The commissioner is not required to deny an application that fails to comply with Subsection (a)(1) if the commissioner determines that:(1)  the anticompetitive effects of the acquisition are clearly outweighed in the public interest by the probable effect of the acquisition in meeting the convenience and needs of the community to be served;  and(2)  the acquisition does not violate a law of this state or the United States.(c)  Notwithstanding Subsections (a) and (b), the commissioner shall issue an order denying an application if the commissioner determines that the applicant:(1)  has failed to furnish all of the information pertinent to the application reasonably requested by the commissioner;  or(2)  is not acting in good faith.(d)  If the commissioner does not deny an application before the 61st day after the date the application is filed, the acquisition may be consummated.  The acquisition may be consummated before the expiration of the 60-day period if the commissioner notifies the applicant in writing that the application will not be denied.(e)  An agreement entered into by the applicant and the commissioner as a condition that the application will not be denied is enforceable against the association and is considered an agreement under this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.556 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.556. Appeal to Commissioner of Denial

Sec. 62.556.  APPEAL TO COMMISSIONER OF DENIAL.  (a)  If the commissioner denies an application, the applicant is entitled to a hearing if the applicant submits a written request for a hearing not later than the later of:(1)  the 30th day after the date the application is filed;  or(2)  the 15th day after the date the application is denied.(b)  Not later than the 30th day after the date the hearing is closed, the commissioner shall enter a final order affirming or withdrawing the denial of the application.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.557 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.557. Judicial Review

Sec. 62.557.  JUDICIAL REVIEW.  (a)  An applicant may appeal the commissioner's denial of an application or the commissioner's order affirming the denial only after a final order is entered.  The commissioner is defendant in the appeal.(b)  A party to the action may appeal the court's decision.  The appeal is returnable to the appellate court at once and has precedence in that court over any cause of a different character pending in that court.(c)  The commissioner is not required to give an appeal bond in a cause arising under this subchapter.(d)  Filing an appeal under this section does not stay an order of the commissioner that is adverse to the applicant.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.558 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.558. Unauthorized Change of Control

Sec. 62.558.  UNAUTHORIZED CHANGE OF CONTROL.  If it appears that a change in control may have taken place without approval, the commissioner may call a hearing to determine whether:(1)  a change in control has occurred without approval or an unauthorized person without any apparent ownership interest in the association, acting alone or with others, effectively has indirect controlling or dominating influence over the management or policies of the association;  and(2)  if control or indirect controlling or dominating influence has been acquired as provided by Subdivision (1), an appropriate supervisory order should be issued, including an order requiring a divestiture of that control or indirect controlling or dominating influence.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.559 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.559. Confidentiality

Sec. 62.559.  CONFIDENTIALITY.  (a)  Except as provided by this section, information obtained by the commissioner under this subchapter is confidential and may not be disclosed by the commissioner or an officer or employee of the Department of Savings and Mortgage Lending.(b)  The commissioner may disclose the information to a department, agency, or instrumentality of this state or the United States if the commissioner considers disclosure to be necessary or proper to the enforcement of the laws of this state or the United States and in the best interest of the public.(c)  When the commissioner receives the application, the commissioner shall submit to the Texas Register notice of the application, its date of filing, and the identity of each party to the application.  The information submitted shall be published in the Texas Register in the next issue following the date the information is received.|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. 6.028, eff. September 1, 2007.|
TX Fin Code § 62.560 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.560. Injunction

Sec. 62.560.  INJUNCTION.  (a)  The attorney general on behalf of the commissioner may apply for equitable relief, including an order enjoining a violation, if the commissioner believes a person has violated or is about to violate this subchapter or a rule of the finance commission or order of the commissioner adopted under this subchapter.(b)  The suit must be brought in a district court of Travis County.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 27, eff. Sept. 1, 2001.|
TX Fin Code § 62.561 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter L. Change of Control of Association|Section 62.561. Criminal Penalty

Sec. 62.561.  CRIMINAL PENALTY.  (a)  A person commits an offense if the person intentionally makes a materially false or misleading statement to the commissioner with respect to the information required by this subchapter.(b)  An offense under this section is a misdemeanor punishable by:(1)  a fine in an amount not to exceed $2,000;(2)  confinement in county jail for a period not to exceed one year;  or(3)  both the fine and confinement.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 64.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 64 - Loans and Investments|Subchapter A. General Provisions|Section 64.001. Adoption of Rules

Sec. 64.001.  ADOPTION OF RULES.  (a)  The finance commission shall adopt rules relating to the power of associations operating under this subtitle to make loans and investments.(b)  Rules adopted under this section must contain provisions reasonably necessary to ensure that:(1)  a loan made by an association is consistent with sound lending practices;  and(2)  an investment made by an association promotes the purposes of this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 28, eff. Sept. 1, 2001.|
TX Fin Code § 64.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 64 - Loans and Investments|Subchapter A. General Provisions|Section 64.002. Content of Rules

Sec. 64.002.  CONTENT OF RULES.  Rules adopted under this subchapter may include provisions governing:(1)  types of loans an association may originate, make, or sell;(2)  conditions under which an association may originate, make, or sell a loan;(3)  conditions under which an association may purchase or participate in a loan made by another lender;(4)  conditions for servicing a loan for another lender;(5)  conditions under which an association may lend money on the security of a loan made by another lender;(6)  conditions under which an association may pledge a loan held by the association as collateral for money borrowed by the association;(7)  conditions under which an association may invest in securities and debt instruments;(8)  documentation that an association must have in the association's loan files when the association funds, purchases, or participates in a loan;(9)  the form and content of statements of expenses, fees, and other charges paid, or required to be paid, by a borrower;(10)  title information required to be maintained in force;(11)  insurance coverage required to be provided by a borrower for property that secures a loan;(12)  appraisal reports;(13)  financial statements of borrowers;(14)  fees or other compensation that may be paid to an officer, director, employee, affiliated person, consultant, or third party in connection with procuring a loan for an association;(15)  conditions under which an association may advance money to pay taxes, assessments, insurance premiums, and similar charges for the protection of the association's interest in property securing a loan;(16)  terms under which an association may acquire and deal in real property;(17)  valuation on an association's books of real property held by the association;(18)  terms governing an association's investment in a subsidiary corporation;(19)  powers that may be exercised by a subsidiary of an association;  and(20)  any other matter necessary for proper administration of transactions conducted by an association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 64.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 64 - Loans and Investments|Subchapter A. General Provisions|Section 64.003. Prohibited Transactions

Sec. 64.003.  PROHIBITED TRANSACTIONS.  An association may not engage in a transaction that violates a rule adopted under this subchapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 64.021 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 64 - Loans and Investments|Subchapter B. Loan Expenses|Section 64.021. Borrower Payment of Loan Expenses

Sec. 64.021.  BORROWER PAYMENT OF LOAN EXPENSES.  An association 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 § 64.022 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 64 - Loans and Investments|Subchapter B. Loan Expenses|Section 64.022. Collection of Loan Expenses

Sec. 64.022.  COLLECTION OF LOAN EXPENSES.  An expense payment authorized by Section 64.021 may be:(1)  collected by the association from the borrower and:(A)  retained by the association;  or(B)  paid to a person rendering a service for which a charge was made, including an officer, director, or employee of the association rendering the service;  or(2)  paid directly by a borrower to the person rendering the service.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 64.023 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 64 - Loans and Investments|Subchapter B. Loan Expenses|Section 64.023. Character of Loan Expense Payments

Sec. 64.023.  CHARACTER OF LOAN EXPENSE PAYMENTS.  An expense payment authorized by Section 64.021 is not interest or compensation charged by an association for the loan of money.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 64.041 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 64 - Loans and Investments|Subchapter C. Loan Payments|Section 64.041. Penalty for Prepayment or Late Payment

Sec. 64.041.  PENALTY FOR PREPAYMENT OR LATE PAYMENT.  An association 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 § 64.042 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 64 - Loans and Investments|Subchapter C. Loan Payments|Section 64.042. Application of Prepayments to Loan Installments

Sec. 64.042.  APPLICATION OF PREPAYMENTS TO LOAN INSTALLMENTS.  Unless otherwise agreed in writing, an association 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 on installments in the inverse order of their maturity.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|