reglab/statecodes huggingface dataset:
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4011. Credit Union Department Building

Sec. 15.4011.  CREDIT UNION DEPARTMENT BUILDING.  The commission shall have charge and control of the property known as the Credit Union Department Building and use of staff, equipment, and facilities of the department.  The Credit Union Department Building refers to the property located in the city of Austin and titled in the name of the State of Texas for the use and benefit of the Credit Union Department, as described by deed recorded in Volume 6126, Page 27, of the Deed Records of Travis County, Texas.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(f), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.402. Adoption of Rules

Sec. 15.402.  ADOPTION OF RULES.  (a)  The commission may adopt reasonable rules necessary to administer this chapter and to accomplish the purposes of Subtitle D, Title 3.
(b)  In adopting rules under this section, the commission may regulate and classify credit unions according to criteria that the commission determines are appropriate and necessary to accomplish the purposes of this chapter and Subtitle D, Title 3, including the:
(1)  character of field of membership;
(2)  amount of assets;
(3)  number of members;  and
(4)  financial condition.
(b-1)  In adopting rules under this section, the commission shall consider the need to:
(1)  promote a stable credit union environment;
(2)  provide credit union members with convenient, safe, and competitive services;
(3)  preserve and promote the competitive parity of credit unions with regard to other depository institutions consistent with the safety and soundness of credit unions;  and
(4)  promote or encourage economic development in this state.
(c)  The commission by rule shall establish reasonable and necessary fees for the administration of this chapter and Subtitle D, Title 3.
(d)  The presence or absence in this chapter or Subtitle D, Title 3, of a specific reference to rules regarding a particular subject does not enlarge or diminish the rulemaking authority provided by this section.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 157, Sec. 2, eff. Sept. 1, 1999;  Acts 2003, 78th Leg., ch. 533, Sec. 1, eff. Sept. 1, 2003.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4021. Receipt of Public Comments; Notice of Commission Activities

Sec. 15.4021.  RECEIPT OF PUBLIC COMMENTS;  NOTICE OF COMMISSION ACTIVITIES.  (a)  The commission shall develop and implement policies that provide the public with a reasonable opportunity to appear before the commission and to speak on any issue under the jurisdiction of the department.
(b)  The commission shall adopt rules providing for public notice of department activities.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.10(a), eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4022. Rules Relating to Competitive Bidding and Advertising

Sec. 15.4022.  RULES RELATING TO COMPETITIVE BIDDING AND ADVERTISING.  (a)  The commission may not adopt rules restricting competitive bidding or advertising by a credit union except to prohibit false, misleading, or deceptive practices.
(b)  In its rules to prohibit false, misleading, or deceptive practices, the commission may not include a rule that:
(1)  restricts the use of any medium for advertising;
(2)  relates to the size or duration of an advertisement by the credit union;  or
(3)  restricts the credit union's advertisement under a trade name.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.10(a), eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4023. Separation of Responsibilities

Sec. 15.4023.  SEPARATION OF RESPONSIBILITIES.  The commission shall develop and implement policies that clearly separate the policy-making responsibilities of the commission and the management responsibilities of the commissioner and the staff of the department.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.10(a), eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4025. Negotiated Rulemaking and Alternative Dispute Resolution Policy

Sec. 15.4025.  NEGOTIATED RULEMAKING AND ALTERNATIVE DISPUTE RESOLUTION POLICY.  (a)  The commission shall develop and implement a policy to encourage the use of:
(1)  negotiated rulemaking procedures under Chapter 2008, Government Code, for the adoption of department rules; and
(2)  appropriate alternative dispute resolution procedures under Chapter 2009, Government Code, to assist in the resolution of internal and external disputes under the department's jurisdiction.
(b)  The department's procedures relating to alternative dispute resolution must conform, to the extent possible, to any model guidelines issued by the State Office of Administrative Hearings for the use of alternative dispute resolution by state agencies.
(c)  The commission shall designate a trained person to:
(1)  coordinate the implementation of the policy adopted under Subsection (a);
(2)  serve as a resource for any training needed to implement the procedures for negotiated rulemaking or alternative dispute resolution; and
(3)  collect data concerning the effectiveness of those procedures, as implemented by the department.
Added by Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 11, eff. September 1, 2009.
Redesignated from Finance Code, Section 15.4024 by Acts 2011, 82nd Leg., R.S., Ch. 91 (S.B. 1303), Sec. 27.001(11), eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.403. Supervision and Regulation of Credit Unions

Sec. 15.403.  SUPERVISION AND REGULATION OF CREDIT UNIONS.  (a)  The commissioner shall supervise and regulate a credit union doing business in this state, other than a federal credit union, in accordance with this chapter and Subtitle D, Title 3, including rules adopted under this chapter and Subtitle D, Title 3.
(b)  To the extent necessary to the department's authority to supervise and regulate credit unions under this chapter and Subtitle D, Title 3, the commissioner may require each credit union to conduct business in compliance with federal laws that apply to credit unions.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 2, eff. Sept. 1, 2003.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 1, eff. September 1, 2013.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4031. Credit Union Commissioner Hearing

Sec. 15.4031.  CREDIT UNION COMMISSIONER HEARING.  (a)  The commissioner may convene a hearing to receive evidence and argument regarding any matter under this chapter or Subtitle D, Title 3, before the commissioner for decision or review.  The hearing must be conducted under Chapter 2001, Government Code.  A matter made confidential by law must be considered by the commissioner in a closed hearing.
(b)  A hearing officer may conduct any hearing on behalf of the commissioner.
Added by Acts 2003, 78th Leg., ch. 533, Sec. 3, eff. Sept. 1, 2003.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4032. Examination of Related Entities

Sec. 15.4032.  EXAMINATION OF RELATED ENTITIES.  (a)  In accordance with rules adopted by the commission, the commissioner may examine, to the same extent as if the services or activities were performed by a credit union on its own premises:
(1)  a credit union service organization in which a credit union has a material interest;
(2)  an organization engaged primarily in the business of managing one or more credit unions;  and
(3)  a third-party contractor providing electronic data processing, electronic fund transfers, or other member services on behalf of a credit union.
(b)  The commissioner may collect a fee from an examined contractor or organization in connection with each examination to cover the cost of the examination or may collect that fee from the credit unions that use the examined contractor.
Added by Acts 2003, 78th Leg., ch. 533, Sec. 3, eff. Sept. 1, 2003.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.404. Administration and Enforcement of Statutes and Rules

Sec. 15.404.  ADMINISTRATION AND ENFORCEMENT OF STATUTES AND RULES.  The commissioner shall administer and enforce this chapter and Subtitle D, Title 3, and rules adopted under this chapter and Subtitle D, Title 3.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 4, eff. Sept. 1, 2003.
Sec. 15.4041.  ISSUANCE OF INTERPRETIVE STATEMENTS.  (a)  The commissioner may issue interpretive statements containing matters of general policy to guide the public and credit unions, and may amend or repeal a published interpretive statement by issuing an amended statement or notice of repeal of a statement.
(b)  An interpretive statement may be disseminated by newsletter, through an electronic medium such as the Internet, in a volume of statutes or related materials published by the commissioner or others, or by any other means reasonably calculated to notify persons affected by the interpretive statement.  Notice of an amended or withdrawn statement must be disseminated in a substantially similar manner as the affected statement was originally disseminated.
Added by Acts 2003, 78th Leg., ch. 533, Sec. 5, eff. Sept. 1, 2003.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4042. Issuance of Opinion

Sec. 15.4042.  ISSUANCE OF OPINION.  (a)  In response to a specific request from a member of the public or the credit union industry, the commissioner may issue an opinion directly or through the deputy commissioner or a department attorney.
(b)  If the commissioner determines that the opinion is useful for the general guidance of the public or credit unions, the commissioner may disseminate the opinion by newsletter, through an electronic medium such as the Internet, in a volume of statutes or related materials published by the commissioner or others, or by any other means reasonably calculated to notify persons affected by the opinion.  A published opinion must be redacted to preserve the confidentiality of the requesting party unless the requesting party consents to be identified in the published opinion.
(c)  The commissioner may amend or repeal a published opinion by issuing an amended opinion or notice of repeal of an opinion and disseminating the opinion or notice in a substantially similar manner as the affected opinion was originally disseminated.  The requesting party may rely on the original opinion if:
(1)  all material facts were originally disclosed to the commissioner;
(2)  the safety and soundness of the affected credit union will not be endangered by further reliance on the original opinion;  and
(3)  the text and interpretation of relevant governing provisions of this chapter or Subtitle D, Title 3, have not been changed by legislative or judicial action.
Added by Acts 2003, 78th Leg., ch. 533, Sec. 5, eff. Sept. 1, 2003.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4043. Effect of Interpretive Statement or Opinion

Sec. 15.4043.  EFFECT OF INTERPRETIVE STATEMENT OR OPINION.  An interpretive statement or opinion issued under this subchapter does not have the force of law and is not a rule for the purposes of Chapter 2001, Government Code, unless adopted by the commission as provided by Chapter 2001, Government Code.  An interpretive statement or opinion is an administrative construction of this chapter or Subtitle D, Title 3, may be relied on by credit unions authorized to engage in business in this state, and is entitled to great weight if the construction is reasonable and does not conflict with this chapter or Subtitle D, Title 3.
Added by Acts 2003, 78th Leg., ch. 533, Sec. 5, eff. Sept. 1, 2003.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4044. Fees

Sec. 15.4044.  FEES.  The department may charge a late fee against a credit union for late payment of its operating fees.
Added by Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 12, eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.405. Legislative Recommendations

Sec. 15.405.  LEGISLATIVE RECOMMENDATIONS.  The commissioner shall report the department's legislative recommendations to the legislature for consideration.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.406. Attendance at Commission Meetings; Voting

Sec. 15.406.  ATTENDANCE AT COMMISSION MEETINGS;  VOTING.  The commissioner shall attend meetings of the commission but may not vote at a meeting.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.407. Official Committees

Sec. 15.407.  OFFICIAL COMMITTEES.  The chairman may appoint individuals who are not commission members to serve on official committees that are charged with evaluating industry methods or problems and presenting formal recommendations to the commission for possible action.  The individuals appointed are entitled to reimbursement for reasonable and necessary expenses incidental to travel incurred in connection with the performance of official duties.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 1158, Sec. 7, eff. Sept. 1, 2001.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.408. Consumer Complaints

Sec. 15.408.  CONSUMER COMPLAINTS.  (a)  The department shall maintain a system to promptly and efficiently act on complaints filed with the department. The department shall maintain information about parties to the complaint, the subject matter of the complaint, a summary of the results of the review or investigation of the complaint, and its disposition.
(b)  The department shall make information available describing its procedures for complaint investigation and resolution.
(c)  The department shall periodically notify the complaint parties of the status of the complaint until final disposition unless the notice would jeopardize an investigation.
Redesignated from Finance Code Sec. 15.409(b), (c), and (d) and amended by Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 4, eff. September 1, 2021.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4081. Complaint Tracking; Annual Statistical Analysis

Sec. 15.4081.  COMPLAINT TRACKING; ANNUAL STATISTICAL ANALYSIS.  (a)  To help identify and address regulatory issues and constraints, the department shall track all phases of the complaint and enforcement processes, including the receipt, investigation, and disposition of complaints.  The department shall maintain the following information for each complaint:
(1)  the basis for the complaint;
(2)  the origin of the complaint, including whether the complaint was issued from:
(A)  another regulatory agency;
(B)  a credit union member;
(C)  a credit union employee;
(D)  a member of the public; or
(E)  a public or private entity;
(3)  the number of days taken to resolve the complaint from the date the complaint was received; and
(4)  the disposition of the complaint, including:
(A)  if no disciplinary action was taken, the reasons no disciplinary action was taken;
(B)  if disciplinary action was taken, the type of disciplinary action taken, including the amount of any administrative penalty or late fee;
(C)  if dismissed or referred to another agency, the details regarding dismissal or referral; and
(D)  if ongoing, the current status of the complaint.
(b)  The department shall annually compile a statistical analysis of the department's complaint and enforcement processes for the preceding fiscal year.  The analysis must include:
(1)  the total number of complaints filed with the department against credit unions;
(2)  the number of open investigations at the end of the fiscal year;
(3)  the number of complaints that were resolved, disaggregated by:
(A)  the source of the complaint;
(B)  the type of alleged violation;
(C)  jurisdictional and non-jurisdictional complaints;
(D)  regulatory and nonregulatory complaints; and
(E)  the disposition and type of action taken, including any administrative penalty or late fee assessed; and
(4)  the average number of days taken to resolve a complaint, including complaints that were resolved through an examination of a credit union.
Added by Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 5, eff. September 1, 2021.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.409. Consumer Information

Sec. 15.409.  CONSUMER INFORMATION.  (a)  The commissioner shall:
(1)  supervise the preparation of public interest information describing:
(A)  functions of the department;
(B)  procedures for filing and resolving complaints;  and
(C)  other matters of general interest relating to credit unions;  and
(2)  make the information prepared under Subdivision (1) available to the public and appropriate state agencies.
(b)  Redesignated by Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 4, eff. September 1, 2021.
(c)  Redesignated by Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 4, eff. September 1, 2021.
(d)  Redesignated by Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 4, eff. September 1, 2021.
(e)  The commission by rule shall establish methods by which consumers and service recipients are notified of the name, mailing address, telephone number, and Internet website of the department for the purpose of directing complaints to the department.  The commission shall provide for that notification:
(1)  on the Internet website of a credit union regulated under this chapter and Subtitle D, Title 3, if the credit union maintains a website;
(2)  on a sign prominently displayed in the place of business of each credit union regulated under this chapter and Subtitle D, Title 3; and
(3)  in any newsletter distributed by a credit union regulated under this chapter and Subtitle D, Title 3, if the credit union distributes a newsletter.
(f)  The commission by rule may establish other methods by which credit unions that do not have an Internet website or do not distribute a newsletter may make the information described by Subsection (e) more readily available to credit unions' customers and service recipients.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.11(c), eff. Sept. 1, 1999.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 13, eff. September 1, 2009.
Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 2, eff. September 1, 2013.
Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 4, eff. September 1, 2021.
Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 6, eff. September 1, 2021.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4091. Access to Department Facilities, Programs, and Services

Sec. 15.4091.  ACCESS TO DEPARTMENT FACILITIES, PROGRAMS, AND SERVICES.  (a)  The department shall comply with federal and state laws related to program and facility accessibility.
(b)  The commissioner shall prepare and maintain a written plan that describes how a person who does not speak English can be provided reasonable access to the department's programs and services.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.11(d), eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.410. Share and Depositor Insurance Protection

Sec. 15.410.  SHARE AND DEPOSITOR INSURANCE PROTECTION.  (a)  The commission shall adopt, and the commissioner shall enforce, reasonable rules requiring a credit union to provide share and deposit insurance protection for credit union members and depositors.
(b)  Rules adopted under this section must include authorization for and establishment of a share and deposit guaranty corporation or credit union under the department's exclusive regulation to enable the department to carry out the purposes of this chapter and Subtitle D, Title 3.
(c)  A credit union may provide share and deposit insurance protection through another source approved by the department, including a program of the National Credit Union Administration.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4105. Annual Report to Members

Sec. 15.4105.  ANNUAL REPORT TO MEMBERS.  (a)  The commission shall adopt, and the commissioner shall enforce, reasonable rules requiring a credit union regulated under this chapter and Subtitle D, Title 3, to provide an annual report to the credit union's members regarding the credit union's financial condition and management.  The report must:
(1)  include a current balance sheet;
(2)  include an income and expense statement;
(3)  contain the name and date of expiration of the term of office of each member serving on the board of directors;
(4)  contain a brief description of any changes, since the preceding report was provided under this section, to the credit union's:
(A)  management;
(B)  bylaws;
(C)  articles of incorporation;
(D)  financial condition;
(E)  membership size; and
(F)  services offered; and
(5)  contain any other information the commission considers necessary to ensure that credit union members are provided with basic knowledge of the credit union's financial condition and management.
(b)  In adopting rules under this section, the commission must ensure that a credit union:
(1)  updates the report before the credit union's annual organizational meeting;
(2)  makes the report available to members throughout the year on the credit union's Internet website, if the credit union maintains a website; and
(3)  provides the report to credit union members by an alternative method, including delivery at the credit union's annual organizational meeting, if the credit union does not have an Internet website.
Added by Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 14, eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.411. Agreements With Other Regulators

Sec. 15.411.  AGREEMENTS WITH OTHER REGULATORS.  (a)  The commissioner may enter into an agreement with any credit union supervisory agency regarding the examination or supervision of branch offices of credit unions chartered in this state doing business in other states and foreign credit unions doing business in this state.  In lieu of conducting an examination or investigation required by this subtitle, the commissioner may accept examinations or reports from other credit union supervisory agencies.  The acceptance of the examination or report does not waive any fee, charge, or revenue required to be paid by a credit union, including a foreign credit union doing business in this state.
(b)  The commissioner may enter into any cooperative arrangement with other credit union supervisory agencies to promote the effective regulation of state credit unions doing business across state lines, including contracting to use another agency's examiners, allowing for the use of examiners of this state by another agency, or collecting fees on behalf of or receiving payments through another agency.
Added by Acts 1999, 76th Leg., ch. 157, Sec. 4, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.4111. Regulatory Coordination

Sec. 15.4111.  REGULATORY COORDINATION.  To ensure effective coordination among and between the department and other state and federal agencies, the commissioner and those agencies may enter into cooperative, coordinating, or information-sharing agreements that are necessary or proper to enforce the state or federal laws applicable to credit unions.
Added by Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 3, eff. September 1, 2013.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.412. Filing Group Return With the Internal Revenue Service

Sec. 15.412.  FILING GROUP RETURN WITH THE INTERNAL REVENUE SERVICE.  (a)  The commissioner may file a consolidated group return form with the Internal Revenue Service on behalf of all credit unions under the department's jurisdiction.  To be included, each credit union must annually authorize the department in writing to include the credit union in the group return and must declare that the authorization and the financial information submitted for the purpose of compiling the group return are true and complete.
(b)  The state is not liable for information contained in any form submitted.  Each credit union is individually responsible for the accuracy, completeness, and timeliness of the information and for any potential tax liability or penalties that may accrue.
Added by Acts 1999, 76th Leg., ch. 157, Sec. 4, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.413. Interpretation of Home Equity Lending Law

Sec. 15.413.  INTERPRETATION OF HOME EQUITY LENDING LAW.  The commission may, on request of an interested person or on its own motion, issue interpretations of Sections 50(a)(5)-(7), (e)-(p), (t), and (u), Article XVI, Texas Constitution.  An interpretation under this section is subject to Chapter 2001, Government Code, and is applicable to lenders regulated by the commission.  The Finance Commission of Texas and the commission shall attempt to adopt interpretations that are as consistent as feasible or shall state justification for any inconsistency.
Acts 2003, 78th Leg., ch. 1207, Sec. 2, eff. Sept. 13, 2003.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.414. Authority to Contract for Professional or Personal Services

Sec. 15.414.  AUTHORITY TO CONTRACT FOR PROFESSIONAL OR PERSONAL SERVICES.  For the purpose of carrying out the powers, duties, and responsibilities of the department, the commissioner may negotiate, contract, or enter into an agreement for professional or personal services.  The commission by rule shall adopt policies and procedures consistent with applicable state procurement practices for soliciting and awarding contracts under this section.
Added by Acts 2003, 78th Leg., ch. 533, Sec. 5, eff. Sept. 1, 2003.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.415. Gifts of Money or Property

Sec. 15.415.  GIFTS OF MONEY OR PROPERTY.  The department may accept money or property by gift, bequest, devise, or otherwise for any department purpose authorized by this chapter and Subtitle D, Title 3.  A gift, bequest, or devise shall be used for the purposes specified by the grantor.  The commission must approve acceptance and use of any gift, bequest, or devise under this section.
Added by Acts 2003, 78th Leg., ch. 533, Sec. 5, eff. Sept. 1, 2003.
Renumbered from Finance Code, Section 15.413 by Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 23.001(26), eff. September 1, 2005.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter E. Powers and Duties of Commission and Commissioner › Section 15.416. Use of Technology

Sec. 15.416.  USE OF TECHNOLOGY.  The commission shall implement a policy requiring the department to use appropriate technological solutions to improve the department's ability to perform its functions.  The policy must ensure that the public is able to interact with the department on the Internet.
Added by Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 15, eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter F. Rules Regarding Use of Advisory Committees › Section 15.501. Rulemaking Authority

Sec. 15.501.  RULEMAKING AUTHORITY.  (a)  The commission shall adopt rules, in compliance with Section 15.407 and Chapter 2110, Government Code, regarding the purpose, structure, and use of advisory committees by the commission, including rules governing an advisory committee's:
(1)  purpose, role, responsibility, and goals;
(2)  size and quorum requirements;
(3)  qualifications for membership, including experience requirements and geographic representation;
(4)  appointment procedures;
(5)  terms of service;
(6)  training requirements; and
(7)  duration.
(b)  An advisory committee must be structured and used to advise the commission.  An advisory committee may not be responsible for rulemaking or policymaking.
Added by Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 16, eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter F. Rules Regarding Use of Advisory Committees › Section 15.502. Periodic Evaluation

Sec. 15.502.  PERIODIC EVALUATION.  The commission shall by rule establish a process by which the commission shall periodically evaluate an advisory committee to ensure its continued necessity.  The commission may retain or develop committees as appropriate to meet changing needs.
Added by Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 16, eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 15 - Credit Union Commission and Department › Subchapter F. Rules Regarding Use of Advisory Committees › Section 15.503. Compliance With Open Meetings Act

Sec. 15.503.  COMPLIANCE WITH OPEN MEETINGS ACT.A commission advisory committee must comply with Chapter 551, Government Code.
Added by Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 16, eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.001. Definitions

Sec. 16.001.  DEFINITIONS.  In this chapter:
(1)  "Financial regulatory agency" means:
(A)  the Texas Department of Banking;
(B)  the Department of Savings and Mortgage Lending;
(C)  the Office of Consumer Credit Commissioner; and
(D)  the Credit Union Department.
(2)  "Policy-making body" means:
(A)  the Finance Commission of Texas for:
(i)  the Texas Department of Banking;
(ii)  the Department of Savings and Mortgage Lending; and
(iii)  the Office of Consumer Credit Commissioner; and
(B)  the Credit Union Commission for the Credit Union Department.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.002. Self-Directed and Semi-Independent Status of Financial Regulatory Agencies

Sec. 16.002.  SELF-DIRECTED AND SEMI-INDEPENDENT STATUS OF FINANCIAL REGULATORY AGENCIES.  Notwithstanding any other provision of law, a financial regulatory agency is self-directed and semi-independent as specified by this chapter.  Any Act of the 81st Legislature that relates to a financial regulatory agency and that is inconsistent with the agency being self-directed and semi-independent may be implemented by the financial regulatory agency only on authorization by the policy-making body of the financial regulatory agency.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.003. Budget, Revenues, and Expenses

Sec. 16.003.  BUDGET, REVENUES, AND EXPENSES.  (a)  A financial regulatory agency shall submit to the policy-making body of the financial regulatory agency a budget annually using generally accepted accounting principles.  Notwithstanding any other provision of law, including the General Appropriations Act, the budget shall be adopted and approved only by the policy-making body of the financial regulatory agency.
(b)  A financial regulatory agency shall be responsible for all direct and indirect costs of the agency's existence and operation.  The financial regulatory agency may not directly or indirectly cause the general revenue fund to incur any cost.
(c)  Subject to any limitations in a financial regulatory agency's enabling legislation, a financial regulatory agency may set the amounts of fees, penalties, charges, and revenues required or permitted by statute or rule as necessary for the purpose of carrying out the functions of the financial regulatory agency and funding the budget adopted and approved under Subsection (a).
(d)  All fees and funds collected by a financial regulatory agency and any funds appropriated to the financial regulatory agency shall be deposited in interest-bearing deposit accounts in the Texas Treasury Safekeeping Trust Company.  The comptroller shall contract with the financial regulatory agency for the maintenance of the deposit accounts under terms comparable to a contract between a commercial banking institution and the institution's customers.
(e)  Periodically, each financial regulatory agency shall submit to the agency's policy-making body, as directed by the policy-making body, a report of the receipts and expenditures of the financial regulatory agency.
(f)  The fiscal year for a financial regulatory agency begins on September 1 and ends on August 31.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.004. Audits

Sec. 16.004.  AUDITS.  This chapter does not affect the duty of the state auditor to audit a financial regulatory agency.  The state auditor shall enter into a contract and schedule with each financial regulatory agency to conduct audits, including financial reports and performance audits.  The financial regulatory agency shall reimburse the state auditor for all costs incurred in performing the audits and shall provide to the governor a copy of any audit performed.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.005. Records; Reporting Requirements

Sec. 16.005.  RECORDS; REPORTING REQUIREMENTS.  (a)  A financial regulatory agency shall keep financial and statistical information as necessary to disclose completely and accurately the financial condition and results of operations of the agency.
(b)  Before the beginning of each regular session of the legislature, each financial regulatory agency shall submit to the legislature and the governor a report describing all of the agency's activities in the previous biennium.  The report must include:
(1)  an audit as required by Section 16.004;
(2)  a financial report of the previous fiscal year, including reports on financial condition and results of operations;
(3)  a description of all changes in fees imposed on regulated industries;
(4)  a report on changes in the regulatory jurisdiction of the agency, including the number of chartered financial institutions, license holders, and registrants subject to the agency's jurisdiction and any changes in those figures; and
(5)  a list of all new rules adopted or repealed.
(c)  In addition to the reporting requirements of Subsection (b), not later than November 1 of each year, each financial regulatory agency shall submit to the governor, the committee of each house of the legislature that has jurisdiction over appropriations, and the Legislative Budget Board a report that contains:
(1)  the salary for all financial regulatory agency personnel and the total amount of per diem expenses and travel expenses paid for all agency employees;
(2)  the total amount of per diem expenses and travel expenses paid for each member of the agency's policy-making body, provided that only one report must be submitted regarding the Finance Commission of Texas;
(3)  the agency's operating plan and annual budget; and
(4)  a detailed report of all revenue received and all expenses incurred by the financial regulatory agency in the previous 12 months.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.006. Ability to Contract

Sec. 16.006.  ABILITY TO CONTRACT.  (a)  To carry out and promote the objectives of this chapter, a financial regulatory agency may enter into contracts and do all other acts incidental to those contracts that are necessary for the administration of the agency's affairs and for the attainment of the agency's purposes, except as limited by Subsection (b).
(b)  Any indebtedness, liability, or obligation of the financial regulatory agency incurred under this section may not:
(1)  create a debt or other liability of this state or another entity other than the financial regulatory agency; or
(2)  create any personal liability on the part of the members of the policy-making body or the body's or agency's employees.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.007. Property

Sec. 16.007.  PROPERTY.  A financial regulatory agency may:
(1)  acquire by purchase, lease, gift, or any other manner provided by law and maintain, use, and operate any real, personal, or mixed property, or any interest in property, necessary or convenient to the exercise of the powers, rights, privileges, or functions of the financial regulatory agency;
(2)  sell or otherwise dispose of any real, personal, or mixed property, or any interest in property, that the financial regulatory agency determines is not necessary or convenient to the exercise of the agency's powers, rights, privileges, or functions;
(3)  construct, extend, improve, maintain, and reconstruct, or cause to construct, extend, improve, maintain, and reconstruct, and use and operate all facilities necessary or convenient to the exercise of the powers, rights, privileges, or functions of the financial regulatory agency; and
(4)  borrow money, as may be authorized from time to time by an affirmative vote of a two-thirds majority of the policy-making body of the financial regulatory agency, for a period not to exceed five years if necessary or convenient to the exercise of the financial regulatory agency's powers, rights, privileges, or functions.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.008. Suits

Sec. 16.008.  SUITS.  The office of the attorney general shall represent a financial regulatory agency in any litigation.  The attorney general may assess and collect from the financial regulatory agency reasonable attorney's fees associated with any litigation under this section.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.009. Post-Participation Liability

Sec. 16.009.  POST-PARTICIPATION LIABILITY.  (a)  If a financial regulatory agency no longer has status under this chapter as a self-directed semi-independent financial regulatory agency for any reason, the agency shall be liable for any expenses or debts incurred by the agency during the time the agency was a self-directed semi-independent financial regulatory agency.  The agency's liability under this section includes liability for any lease entered into by the agency.  This state is not liable for any expense or debt covered by this subsection, and money from the general revenue fund may not be used to repay the expense or debt.
(b)  If a financial regulatory agency no longer has status under this chapter as a self-directed semi-independent financial regulatory agency for any reason, ownership of any property or other asset acquired by the agency during the time the agency was a self-directed semi-independent financial regulatory agency, including unexpended fees in a deposit account in the Texas Treasury Safekeeping Trust Company, shall be transferred to this state.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.010. Due Process; Open Government

Sec. 16.010.  DUE PROCESS; OPEN GOVERNMENT.  A financial regulatory agency is:
(1)  a governmental body for purposes of Chapters 551 and 552, Government Code; and
(2)  a state agency for purposes of Chapters 2001 and 2005, Government Code.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.011. Membership in Employees Retirement System

Sec. 16.011.  MEMBERSHIP IN EMPLOYEES RETIREMENT SYSTEM.  Employees of the financial regulatory agencies are members of the Employees Retirement System of Texas under Chapter 812, Government Code, and the agencies' transition to independent status as provided by this chapter has no effect on their membership or any benefits under that system.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 2 - Financial Regulatory Agencies › Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent › Section 16.012. Gifts

Sec. 16.012.  GIFTS.  (a)  Notwithstanding any other law, a financial regulatory agency may not accept a gift, grant, or donation:
(1)  from a party to an enforcement action; or
(2)  to pursue a specific investigation or enforcement action.
(b)  A financial regulatory agency must:
(1)  report each gift, grant, or donation that the agency receives as a separate item in the agency's report required under Section 16.005(b); and
(2)  include with the report a statement indicating the purpose for which each gift, grant, or donation was donated and used.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 31 - General Provisions › Subchapter A. General Provisions › Section 31.001. Short Title

Sec. 31.001.  SHORT TITLE.  This subtitle may be cited as the Texas Banking Act.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.