reglab/housing_qa huggingface dataset:
TX Fin Code § 93.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 93 - General Powers|Section 93.002. Enlargement of Powers

Sec. 93.002.  ENLARGEMENT OF POWERS.  (a)  The finance commission by rule may expand the powers of savings banks to accommodate or take advantage of changing technology and to enable domestic savings banks to respond to the needs of and convenience demanded by consumers and businesses through on-premises or off-premises operations.(b)  The finance commission may not authorize a domestic savings bank to offer a financial service prohibited to a domestic savings bank by a law of this state other than this subtitle.(c)  In adopting a rule under this section, the finance commission shall consider the need to:(1)  promote a stable environment for financial institutions;(2)  provide the public with convenient, safe, and competitive financial services;  and(3)  allow for economic development in the state.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 93.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 93 - General Powers|Section 93.003. Powers of Federal Savings Bank

Sec. 93.003.  POWERS OF FEDERAL SAVINGS BANK.  A federal savings bank and its members have all of the powers, privileges, benefits, immunities, and exemptions that are provided by the law of this state for a savings bank and the savings bank's members.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 93.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 93 - General Powers|Section 93.004. Power to Borrow

Sec. 93.004.  POWER TO BORROW.  (a)  A savings bank may borrow and give security, subject to rules adopted by the finance commission.(b)  A savings bank at any time through action of its board may issue a capital note, debenture, or other capital obligation authorized by rules adopted by the finance commission.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 51, eff. Sept. 1, 2001.|
TX Fin Code § 93.005 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 93 - General Powers|Section 93.005. Fiscal Agent

Sec. 93.005.  FISCAL AGENT.  (a)  A savings bank may act as fiscal agent of the United States.  A savings bank designated as fiscal agent of the United States by the secretary of the treasury shall act under regulations as required by the secretary and may act as fiscal agent for an instrumentality of the United States.(b)  A savings bank may act as fiscal agent of this state or of a governmental subdivision or instrumentality of this state.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 93.006 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 93 - General Powers|Section 93.006. Power to Act Under Certain Federal Retirement Plans

Sec. 93.006.  POWER TO ACT UNDER CERTAIN FEDERAL RETIREMENT PLANS.  A savings bank or a federal savings bank, to the extent that its charter and applicable federal regulations permit, may:(1)  exercise any power necessary to qualify as a trustee or custodian for a retirement plan permitted or recognized by federal law;  and(2)  invest money the bank holds as trustee or custodian under Subdivision (1) in the bank's accounts if the plan does not prohibit that investment.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 93.007 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 93 - General Powers|Section 93.007. Trust Powers

Sec. 93.007.  TRUST POWERS.  (a)  A savings bank may exercise trust powers only with the commissioner's prior written approval.(b)  The commissioner may approve the exercise of trust powers only after finding that the applicant's savings bank:(1)  is complying with applicable regulatory capital requirements;(2)  is well managed;  and(3)  has earnings, resources, and managerial talent adequate to maintain a trust department.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 93.009 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 93 - General Powers|Section 93.009. Right to Act to Avoid Loss

Sec. 93.009.  RIGHT TO ACT TO AVOID LOSS.  (a)  This subtitle does not deny a savings bank the right to invest its money, operate a business, manage or deal in property, or take other action during any period that is reasonably necessary to avoid loss on a loan or on an investment made or obligation created in good faith in the usual course of the bank's business, as authorized by this subtitle or a rule adopted under this subtitle.(b)  This subtitle does not prohibit a savings bank from:(1)  developing or building on land it has acquired under this section;  or(2)  completing the construction of a building under a construction loan contract in which the borrower has not complied with the contract.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 93.010 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 93 - General Powers|Section 93.010. Closing Place of Business

Sec. 93.010.  CLOSING PLACE OF BUSINESS.  A savings bank may close its place of business at any time its board of directors determines.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 93.011 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 93 - General Powers|Section 93.011. Emergency Closing

Sec. 93.011.  EMERGENCY CLOSING.  (a)  If the officers of a savings bank determine that an emergency that affects or may affect the savings bank's offices or operations exists or is impending, the officers, as reasonable, may determine:(1)  not to conduct the involved operations or open the offices on any business or banking day;  or(2)  if the savings bank is open, to close the offices or the involved operations for the duration of the emergency.(b)  Subject to Subsection (c), a closed office or operation may remain closed until the officers determine that the emergency has ended and for any additional time reasonably required to reopen.(c)  A savings bank that closes an office or operation under this section shall notify the commissioner of its action by any means available and as promptly as conditions permit.  An office or operation may not be closed for more than 48 consecutive hours, excluding other legal holidays, without the commissioner's approval.(d)  In this section, "emergency" means a condition or occurrence that physically interferes with the conduct of normal business at the offices of a savings bank or of a particular savings bank operation or that poses an imminent or existing threat to the safety or security of persons, property, or both.  The term includes a condition or occurrence arising from:(1)  fire, flood, earthquake, hurricane, tornado, wind, rain, or snowstorm;(2)  labor dispute and strike;(3)  power failure;(4)  transportation failure;(5)  interruption of communication facilities;(6)  shortage of fuel, housing, food, transportation, or labor;(7)  robbery or burglary;(8)  actual or threatened enemy attack;(9)  epidemic or other catastrophe;(10)  riot or civil commotion;  or(11)  any other actual or threatened unlawful or violent act.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 93.012 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 93 - General Powers|Section 93.012. Effect of Closing

Sec. 93.012.  EFFECT OF CLOSING.  (a)  A day on which a savings bank or one or more of its operations are closed under Section 93.011 during all or part of its normal business hours is considered to be a legal holiday to the extent the savings bank suspends operations.(b)  A savings bank or a director, officer, or employee of a savings bank does not incur liability or loss of rights from a closing authorized by Section 93.011.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 121.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 121 - General Provisions|Section 121.001. Short Title

Sec. 121.001.  SHORT TITLE.  This subtitle may be cited as the Texas Credit Union Act.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 121.0011 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 121 - General Provisions|Section 121.0011. Policy

Sec. 121.0011.  POLICY.  The purposes of this subtitle are to safeguard the public interest, to promote public confidence in credit unions doing business in this state, to provide for the protection of the interests, shares, and deposits of credit unions, to delegate to the department rulemaking and discretionary authority that may be necessary to assure that credit unions operating under this subtitle may be sufficiently flexible and readily responsive to changes in economic conditions and practices, to maintain sound credit union growth and financial integrity, fiscal responsibility, and independent judgment in the management of the business affairs of credit unions, to permit credit unions to effectively provide a full array of financial and financially related services, to provide effective supervision and regulation of credit unions and their fields of membership, and to clarify and modernize the law governing the credit unions doing business in this state.  This subtitle is the public policy of this state and necessary to the public welfare.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.15, eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 87, Sec. 2, eff. Sept. 1, 1999.|
TX Fin Code § 121.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 121 - General Provisions|Section 121.002. Definitions

Sec. 121.002.  DEFINITIONS.  In this subtitle:(1)  "Board" means the board of directors of a credit union.(2)  "Credit union," unless the context relates to a federal credit union, means a voluntary, cooperative, nonprofit financial institution authorized to do business in this state under this subtitle for purposes of:(A)  encouraging thrift among its members;(B)  creating a source of credit at fair and reasonable interest rates;(C)  developing and providing to its members alternative methods of financing their purchases at reasonable costs;(D)  providing an opportunity for its members to use and control their money to improve their economic and social condition;  and(E)  conducting any other business, engaging in any other activity, or providing any other service that may benefit its members.(3)  "Commission" means the Credit Union Commission.(4)  "Commissioner" means the credit union commissioner.(5)  "Department" means the credit union department.(6)  "Deputy commissioner" means the deputy credit union commissioner.(7)  "Foreign credit union" means a credit union that is not organized under the laws of this state or the United States.(8)  "Law enforcement agency" means the Department of Public Safety of the State of Texas, the Federal Bureau of Investigation, or any local police or sheriff department.(9)  "Membership share" means a designated share account of a credit union consisting of the balance held by the credit union and established by a credit union member in accordance with the standards specified by the credit union.(10)  "Organization" means a corporation, partnership, association, limited liability company, or other legal entity.(11)  "Unsafe or unsound condition," with respect to a credit union, includes:(A)  being insolvent;(B)  having incurred or being likely to incur a loss that will deplete all or substantially all of the credit union's net worth;  or(C)  being in imminent danger of losing the credit union's share and deposit insurance or guarantee.(12)  "Unsafe or unsound practice" means an action or inaction in the operation of a credit union that is contrary to generally accepted standards of prudent operation, the likely consequences of which, if continued, would be abnormal and material risk of loss or danger to a credit union, the credit union's members, or an organization insuring or guaranteeing the credit union's shares and deposits.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 157, Sec. 5, eff. Sept. 1, 1999; Acts 2003, 78th Leg., ch. 533, Sec. 6, eff. Sept. 1, 2003.|
TX Fin Code § 121.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 121 - General Provisions|Section 121.003. Credit Unions Subject to Subtitle

Sec. 121.003.  CREDIT UNIONS SUBJECT TO SUBTITLE.  A credit union organized and existing under the laws of this state is governed by and authorized to do business under this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 121.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 121 - General Provisions|Section 121.004. Liberal Construction

Sec. 121.004.  LIBERAL CONSTRUCTION.  This subtitle shall be liberally construed to effect its purposes.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 121.005 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 121 - General Provisions|Section 121.005. Hearings

Sec. 121.005.  HEARINGS.  (a)  A hearing held under this subtitle is governed by Chapter 2001, Government Code.(b)  The commission may adopt rules of procedure for a hearing held under this subtitle.(c)  This section does not apply to a meeting under Section 122.005.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.14(a), eff. Sept. 1, 1999.|
TX Fin Code § 121.006 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 121 - General Provisions|Section 121.006. Procedure and Rules Applicable to Certain Proceedings

Sec. 121.006.  PROCEDURE AND RULES APPLICABLE TO CERTAIN PROCEEDINGS.  (a)  If the commissioner proposes to revoke a credit union's certificate of incorporation, the credit union is entitled to a hearing conducted by the State Office of Administrative Hearings.(b)  A proceeding for a disciplinary action is governed by Chapter 2001, Government Code.  Rules of practice adopted by the commission under Section 2001.004, Government Code, applicable to a proceeding for a disciplinary action may not conflict with rules adopted by the State Office of Administrative Hearings.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.14(b), eff. Sept. 1, 1999.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 7, eff. Sept. 1, 2003.|
TX Fin Code § 149.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 149 - Miscellaneous Provisions Relating to Credit Unions|Section 149.001. Applicability of Chapters 3 and 4, Business & Commerce Code

Sec. 149.001.  APPLICABILITY OF CHAPTERS 3 AND 4, BUSINESS & COMMERCE CODE.  (a)  Chapters 3 and 4, Business & Commerce Code, determine the rights, responsibilities, and liabilities of a person regarding an item drawn on, transferred to, or presented, remitted, collected, settled, negotiated, or otherwise handled by a credit union as if the credit union were a bank, unless otherwise provided by written agreement of the parties.(b)  In this section:(1)  "Credit union" means 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.).(2)  "Item":(A)  means an instrument, whether or not negotiable, for the payment of money;  and(B)  does not include money.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 149.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 149 - Miscellaneous Provisions Relating to Credit Unions|Section 149.002. Exemption From Securities Laws

Sec. 149.002.  EXEMPTION FROM SECURITIES LAWS.  (a)  Except as required by this subtitle, a credit union authorized to do business under this subtitle or the Federal Credit Union Act (12 U.S.C. Section 1751 et seq.) and an officer, employee, or agent of the credit union engaged in selling, issuing, or offering a security issued by a state or federal credit union are exempt from a law of this state to the extent the law provides for supervision, registration, or regulation in connection with selling, issuing, or offering a security.(b)  The sale, issuance, or offering of a security issued by a state or federal credit union is legal without any action or approval by any official, other than the credit union commissioner, who is authorized to license, regulate, or supervise the sale, issuance, or offering of securities.(c)  In this section, "security" has the meaning assigned by Section 4001.068, Government Code.|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. 2.14, eff. January 1, 2022.|
TX Fin Code § 155.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 155 - Bond Investment Companies|Section 155.001. Definition

Sec. 155.001.  DEFINITION.  In this chapter, "bond investment company" includes a person that places or sells bonds, certificates, or debentures on the partial payment or installment plan.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 155.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 155 - Bond Investment Companies|Section 155.002. Deposit Required

Sec. 155.002.  DEPOSIT REQUIRED.  (a)  Each person doing business in this state as a bond investment company shall deposit with the comptroller, in cash or securities approved by the comptroller, an amount equal to $5,000.(b)  In addition to the deposit required by Subsection (a), a person doing business in this state as a bond investment company shall deposit semiannually with the comptroller, in cash or securities approved by the comptroller, an amount equal to 10 percent of all net premiums received by the company until the amount deposited equals $100,000.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 155.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 155 - Bond Investment Companies|Section 155.003. Failure to Make Deposit

Sec. 155.003.  FAILURE TO MAKE DEPOSIT.  (a)  A domestic corporation that fails to make the deposit required by this chapter before the 61st day after the date of its organization is considered to have forfeited its charter or certificate of incorporation.(b)  The attorney general shall bring suit in the name of the state to have the charter or certificate of incorporation of a domestic corporation that fails to make a deposit as required by Subsection (a) declared forfeited.(c)  On a finding that a domestic corporation failed to make a deposit as required by Subsection (a), a court in which a proceeding is brought under Subsection (b) shall:(1)  declare the charter or certificate of incorporation of the corporation forfeited;(2)  appoint a receiver for the corporation;  and(3)  make equitable compensation for the receiver out of the assets of the corporation.(d)  A receiver appointed under Subsection (c)(2) shall, under the order of the court, distribute to the shareholders the assets of the corporation.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 155.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 155 - Bond Investment Companies|Section 155.004. Receiver on Failure of Corporation

Sec. 155.004.  RECEIVER ON FAILURE OF CORPORATION.  (a)  If a corporation that does business in this state as a bond investment company fails, a district court of the county in which the principal office of the corporation is located shall appoint, on application of a shareholder of the corporation, a receiver.(b)  A receiver appointed under Subsection (a) shall:(1)  wind up the affairs of the corporation;(2)  liquidate the debts of the corporation;  and(3)  distribute any remaining assets of the corporation, including, if ordered by the court, the deposit made under this chapter to secure the shareholders.(c)  The comptroller may refund a deposit made under this chapter on application of the receiver approved by the court.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 155.005 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 155 - Bond Investment Companies|Section 155.005. Exchange of Deposit

Sec. 155.005.  EXCHANGE OF DEPOSIT.  (a)  On request, the comptroller may allow a bond investment company that has made a deposit under this chapter to alter the composition of the deposit by exchanging cash for securities or securities for cash.(b)  Securities deposited under this section must be approved by the comptroller on the written advice of the attorney general.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 155.006 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 155 - Bond Investment Companies|Section 155.006. Return of Deposit

Sec. 155.006.  RETURN OF DEPOSIT.  The comptroller shall return a deposit of cash or securities made under this chapter to a bond investment company if:(1)  the company ceases to do business in this state;  and(2)  the comptroller and the attorney general find that the company does not have any liabilities in this state.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 155.007 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 155 - Bond Investment Companies|Section 155.007. Criminal Penalty

Sec. 155.007.  CRIMINAL PENALTY.  (a)  An officer or agent of a domestic or foreign corporation or company doing business in this state as a bond investment company commits an offense if:(1)  the officer or agent attempts to:(A)  place or sell shares;  or(B)  transact any business on behalf of the company;  and(2)  the bond investment company has not complied with the deposit requirements of this chapter.(b)  An offense under this section is punishable by:(1)  confinement in jail for a term of not more than six months or less than 30 days;(2)  a fine of not more than $1,000 or less than $100;  or(3)  both the fine and confinement.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|