reglab/statecodes huggingface dataset:
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle G - Bank Holding Companies; Interstate Bank Operations › Chapter 204 - Foreign Banks › Subchapter C. Representative Offices of Foreign Bank › Section 204.207. Dissolution

Sec. 204.207.  DISSOLUTION.  (a)  If a foreign bank with a registered Texas representative office is dissolved, has its authority or existence terminated or canceled in the jurisdiction of its incorporation, or has its authority to maintain its Texas representative office terminated by the Board of Governors of the Federal Reserve System under Section 10(b), International Banking Act (12 U.S.C. Section 3107(b)), an officer, manager, or agent of the foreign bank shall deliver to the commissioner a certified copy of:
(1)  a certificate of the official responsible for records of banking corporations of the foreign bank's jurisdiction of incorporation attesting to the occurrence of dissolution or of termination or cancellation of authority or existence;
(2)  an order or decree of a court directing the dissolution of the foreign bank or the termination or cancellation of its authority or existence;  or
(3)  an order of the Board of Governors of the Federal Reserve System terminating its authority under Section 10(b), International Banking Act (12 U.S.C. Section 3107(b)).
(b)  The filing of the certificate, order, or decree has the same effect under Section 204.206 as if the registration made under this subchapter were revoked by the commissioner.
Added by Acts 1999, 76th Leg., ch. 344, Sec. 1.001, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 271 - Financial Transaction Reporting Requirements › Section 271.001. Reporting Requirement for Crimes and Suspected Crimes and Currency and Foreign Transactions

Sec. 271.001.  REPORTING REQUIREMENT FOR CRIMES AND SUSPECTED CRIMES AND CURRENCY AND FOREIGN TRANSACTIONS.  (a)  A financial institution that is required to file a report with respect to a transaction in this state under the Currency and Foreign Transactions Reporting Act (31 U.S.C. Section 5311 et seq.), 31 C.F.R. Part 103, or 12 C.F.R. Section 21.11, and their subsequent amendments, shall file a copy of the report with the attorney general.
(b)  A financial institution that timely files the report described by Subsection (a) with the appropriate federal agency as required by federal law complies with that subsection unless the attorney general:
(1)  notifies the financial institution that the report is not of a type that is regularly and comprehensively transmitted by the federal agency to the attorney general following the attorney general's request to that agency;
(2)  requests that the financial institution provide the attorney general with a copy of the report;  and
(3)  reimburses the financial institution for the actual cost of duplicating and delivering the report or 25 cents for each page, whichever is less.
(c)  In this section, "financial institution" has the meaning assigned by 31 U.S.C. Section 5312 and its subsequent amendments.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.028, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 271 - Financial Transaction Reporting Requirements › Section 271.002. Reporting Requirement for Cash Receipts of More Than $10,000

Sec. 271.002.  REPORTING REQUIREMENT FOR CASH RECEIPTS OF MORE THAN $10,000.  (a)  A person engaged in a trade or business who, in the course of the trade or business, receives more than $10,000 in one transaction or in two or more related transactions in this state and who is required to file a return under Section 6050I, Internal Revenue Code of 1986 (26 U.S.C. Section 6050I), or 26 C.F.R. Section 1.6050I-1, and their subsequent amendments, shall file a copy of the return with the attorney general.
(b)  A person who timely files the return described by Subsection (a) with the appropriate federal agency as required by federal law complies with that subsection unless the attorney general:
(1)  notifies the person that the return is not of a type that is regularly and comprehensively transmitted by the federal agency to the attorney general;  and
(2)  requests that the person provide the attorney general with a copy of the return.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.029, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 271 - Financial Transaction Reporting Requirements › Section 271.003. Use of Reported Information

Sec. 271.003.  USE OF REPORTED INFORMATION.  The attorney general may report a possible violation indicated by analysis of a report or return described by this chapter or information obtained under this chapter to an appropriate law enforcement agency for use in the proper discharge of the agency's official duties.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 271 - Financial Transaction Reporting Requirements › Section 271.004. Failure to Comply With Reporting Requirements; Criminal Penalty

Sec. 271.004.  FAILURE TO COMPLY WITH REPORTING REQUIREMENTS;  CRIMINAL PENALTY.  (a)  A person commits an offense if the person:
(1)  is requested by the attorney general to submit information required by Section 271.001 or 271.002 to the attorney general;  and
(2)  knowingly fails to provide the requested information to the attorney general before the 30th day after the date of the request.
(b)  An offense under this section is a Class A misdemeanor.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 271 - Financial Transaction Reporting Requirements › Section 271.005. Suppression of Physical Evidence; Criminal Penalty

Sec. 271.005.  SUPPRESSION OF PHYSICAL EVIDENCE;  CRIMINAL PENALTY.  (a)  A person commits an offense if the person knowingly suppresses physical evidence connected with information contained in a report or return required by this chapter through concealment, alteration, or destruction.
(b)  An offense under this section is a Class A misdemeanor.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 271 - Financial Transaction Reporting Requirements › Section 271.006. Notification to Target of Criminal Investigation; Criminal Penalty

Sec. 271.006.  NOTIFICATION TO TARGET OF CRIMINAL INVESTIGATION;  CRIMINAL PENALTY.  (a)  A person commits an offense if the person:
(1)  is required to submit a report or return under this chapter;  and
(2)  knowingly notifies an individual who is the target of a criminal investigation involving an offense under Chapter 34, Penal Code, that:
(A)  the attorney general has requested the person to provide information required by this chapter related to the targeted individual;  or
(B)  the individual may be subject to impending criminal prosecution.
(b)  An offense under this section is a Class A misdemeanor.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter A. General Provisions › Section 273.001. Short Title

Sec. 273.001.  SHORT TITLE.  This chapter may be cited as the Texas Savings and Loan Supplemental Fund Act.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter A. General Provisions › Section 273.002. Purposes; Liberal Construction

Sec. 273.002.  PURPOSES;  LIBERAL CONSTRUCTION.  (a)  The purposes of this chapter are to:
(1)  establish a fund in this state to aid the commissioner in maintaining the solvency of associations that contribute to the fund;  and
(2)  safeguard the public interest and promote public confidence in domestic associations doing business in this state by making the fund available to the commissioner to be used to:
(A)  protect and rehabilitate the assets of member associations;  and
(B)  maintain the solvency of member associations.
(b)  This chapter shall be liberally construed to effect its purposes.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter A. General Provisions › Section 273.003. Definitions

Sec. 273.003.  DEFINITIONS.  In this chapter:
(1)  "Board" means the board of directors of the corporation.
(2)  "Commissioner" means the savings and mortgage lending commissioner.
(3)  "Corporation" means the Texas Savings and Loan Supplemental Fund Corporation.
(4)  "Domestic association" means a savings and loan association that is organized under the laws of this state.
(5)  "Member association" means a domestic association that is a member in good standing of the corporation.
(6)  "Member association under conservatorship" means a member association that is subject to a conservatorship order of the commissioner.
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. 6.059, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter A. General Provisions › Section 273.004. Exemption From Securities Act

Sec. 273.004.  EXEMPTION FROM SECURITIES ACT.  (a)  A security issued by the corporation under this chapter is not considered a "security" under The Securities Act (Title 12, Government Code).
(b)  A person authorized by and acting on behalf of the corporation is exempt from the registration and licensing provisions of The Securities Act (Title 12, Government Code) with respect to that person's participation in a sale or other transaction involving a security of the corporation.
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. 2.16, eff. January 1, 2022.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter A. General Provisions › Section 273.005. Security of Corporation Considered Authorized Investment of Savings and Loan Association

Sec. 273.005.  SECURITY OF CORPORATION CONSIDERED AUTHORIZED INVESTMENT OF SAVINGS AND LOAN ASSOCIATION.  A security of the corporation held by a member association is considered an authorized investment of a savings and loan association under state law.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.101. Creation of and Membership in Corporation

Sec. 273.101.  CREATION OF AND MEMBERSHIP IN CORPORATION.  (a)  The Texas Savings and Loan Supplemental Fund Corporation is a nonprofit legal entity that is supervised by the commissioner.
(b)  A domestic association is eligible to be a member of the corporation if the association:
(1)  is insured by the Federal Deposit Insurance Corporation;  and
(2)  meets the membership standards adopted by the board and approved by the commissioner as part of the Texas Savings and Loan Supplemental Fund Corporation's plan of operation.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.102. Board of Directors

Sec. 273.102.  BOARD OF DIRECTORS.  (a)  The board shall exercise the powers and manage the business and affairs of the corporation.
(b)  The board consists of:
(1)  the members of the Finance Commission of Texas;  and
(2)  six members elected by the member associations at an annual meeting.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.103. Executive Committee

Sec. 273.103.  EXECUTIVE COMMITTEE.  (a)  The plan of operation of the corporation may authorize the board to create an executive committee consisting of three or more directors.
(b)  An act of the executive committee is as effective as an act of the board if the act is authorized by the plan of operation and is within the authority delegated to the committee.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.104. Term

Sec. 273.104.  TERM.  (a)  An elected director serves a two-year term and continues to serve until a successor has been elected and qualified.
(b)  Of the original board who represent the member associations, three directors shall be elected for two-year terms, and the other three directors shall be elected for one-year terms.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.105. Board Officers and Personnel

Sec. 273.105.  BOARD OFFICERS AND PERSONNEL.  (a)  At the first board meeting after each directors' election, the board shall elect from its membership a presiding officer.
(b)  The board may appoint other officers and employees as the board considers appropriate.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.106. Vacancy

Sec. 273.106.  VACANCY.  (a)  The office of a director becomes vacant on the death, resignation, or removal of the director.
(b)  A resignation must be presented to the commissioner or the board's presiding officer.
(c)  A vacancy in the office of a director shall be filled for the unexpired term by majority vote of the remaining directors.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.107. Removal of Board Member

Sec. 273.107.  REMOVAL OF BOARD MEMBER.  The board may remove an elected director from office by a two-thirds majority vote at a meeting called for that express purpose because the director has failed to:
(1)  maintain the standards for directors specified in the plan of operation;  or
(2)  perform any required duty.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.108. Conflict of Interest

Sec. 273.108.  CONFLICT OF INTEREST.  A director may not vote or act on a decision intended to directly and specifically affect an association in which the director has a direct interest.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.109. Compensation; Reimbursement for Expenses

Sec. 273.109.  COMPENSATION;  REIMBURSEMENT FOR EXPENSES.  A director may not receive compensation for serving on the board but is entitled to reimbursement for actual expenses incurred in performing duties as a director.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.110. Meetings

Sec. 273.110.  MEETINGS.  (a)  A regular meeting of the board shall be held as determined by the board.
(b)  A special meeting of the board may be called by:
(1)  the presiding officer;
(2)  any three directors;  or
(3)  the commissioner.
(c)  Notice of the time and place of each board meeting shall be given to each director and the commissioner at the time and in the manner specified in the plan of operation.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter B. Organization of Corporation › Section 273.111. Quorum; Voting

Sec. 273.111.  QUORUM;  VOTING.  (a)  A quorum of the board consists of not less than a majority of all directors, except that:
(1)  less than a majority of all directors may adjourn from time to time;  and
(2)  a majority of directors holding office constitutes a quorum for filling a vacancy on the board.
(b)  Each member association is entitled to one vote on a matter at a meeting of the member associations, including the election of directors.  The vote must be cast by a delegate authorized to act by that association.
(c)  A majority of the votes cast is required to elect a director or approve a question to be voted on by the directors.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.201. Plan of Operation; Amendment

Sec. 273.201.  PLAN OF OPERATION;  AMENDMENT.  (a)  After the directors have been selected and taken office, the board shall submit to the commissioner a plan of operation the board finds necessary and suitable to assure the fair, reasonable, and equitable administration of the corporation.  The plan must:
(1)  contain explicit standards for admission to and retention of membership in the corporation;
(2)  establish procedures for handling the assets of the corporation;
(3)  establish the amount and method of reimbursing directors;
(4)  establish a regular place and time for board meetings;
(5)  establish procedures for keeping records of financial transactions of the board, the corporation, and the corporation's agents;
(6)  establish additional procedures for issuing securities of the corporation under Subchapter D;
(7)  subject to the limits prescribed by Section 273.305(c), establish a maximum amount that may be spent on behalf of a member association for the purposes of this chapter;  and
(8)  contain any other provision necessary or proper to execute the powers and duties of the corporation.
(b)  A member association shall comply with the plan.
(c)  The corporation may amend the plan and submit the amendment to the commissioner.
(d)  The plan or an amendment to the plan takes effect on the commissioner's written approval of the plan or amendment.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.202. Temporary Plan of Operation

Sec. 273.202.  TEMPORARY PLAN OF OPERATION.  (a)  The commissioner shall prepare and adopt a temporary plan of operation for organization of the corporation until the initial board is selected.  The plan must include standards for membership in the corporation.
(b)  The temporary plan remains in effect until the plan is:
(1)  modified by the commissioner;  or
(2)  superseded by a plan of operation that is approved by the commissioner.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.203. Powers of Corporation

Sec. 273.203.  POWERS OF CORPORATION.  The corporation may, consistent with the purposes of this chapter, exercise the powers of a nonprofit corporation created under the laws of this state, including the power to:
(1)  enter into a contract;
(2)  sue and be sued;
(3)  purchase, hold, lease, receive, use, encumber, transfer, lend, advance, or otherwise dispose of money or other property of any kind, or of any interest in money or other property;
(4)  take the capital stock and assets of a borrowing member association as collateral securing any loan it makes to that association;
(5)  hold or dispose of in any manner any collateral described by Subdivision (4) acquired as a result of default in the payment of a loan;
(6)  declare and pay a dividend or interest on a security issued under this chapter;
(7)  borrow money;  and
(8)  perform any other necessary act to enable the corporation to effectively promote and carry out its purposes.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.204. Conditions Under Which Corporation May Exercise Powers and Duties

Sec. 273.204.  CONDITIONS UNDER WHICH CORPORATION MAY EXERCISE POWERS AND DUTIES.  The corporation may not exercise a power or perform a duty under Section 273.203 or 273.205 or Subchapter E  until the Office of Thrift Supervision and the Federal Deposit Insurance Corporation have:
(1)  officially recognized that the corporation in exercising that power or performing that duty will reduce and minimize the liability of the Federal Deposit Insurance Corporation;  and
(2)  taken any necessary action to permit member associations to use without restraint all of the operational power the member associations have under the laws of this state, including rules of the Finance Commission of Texas.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 95, eff. Sept. 1, 2001.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.205. Consideration for Assistance

Sec. 273.205.  CONSIDERATION FOR ASSISTANCE.  In consideration for assistance provided to a member association under this chapter, the corporation shall receive:
(1)  an equity interest in the association;  or
(2)  other compensation acceptable to the board from the association or another corporate entity that is a party to the transaction in which the assistance is rendered.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.206. Cancellation of Membership

Sec. 273.206.  CANCELLATION OF MEMBERSHIP.  The board may cancel the membership of a member association that fails to purchase securities as required by Section 273.301 by the 10th banking day after the purchase date set by the board.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.207. Redemption of Securities

Sec. 273.207.  REDEMPTION OF SECURITIES.  (a)  A member association that surrenders its membership, becomes ineligible for membership, or has its membership canceled may present any security of the corporation it holds for redemption.  The corporation may defer redemption for not longer than three years and shall continue to pay interest or a dividend required under the terms of a security until the security is redeemed.
(b)  When the balance of the administrative account exceeds 20 percent of the balance of the primary account, the corporation may begin a redemption plan of securities issued by the corporation.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.208. Immunity From Liability

Sec. 273.208.  IMMUNITY FROM LIABILITY.  The following persons are not liable for an act or failure to act in the exercise of the person's powers or performance of the person's duties under this chapter:
(1)  a member association;
(2)  the corporation;
(3)  a director;
(4)  the commissioner or the commissioner's representative;  and
(5)  an agent or employee of the corporation or a member association.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.209. Limitation on Advertisement and Promotion

Sec. 273.209.  LIMITATION ON ADVERTISEMENT AND PROMOTION.  A member association may advertise or use for promotional purposes the fact that its assets are protected under this chapter only to the extent and in the manner permitted by the plan of operation.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.210. Dissolution

Sec. 273.210.  DISSOLUTION.  (a)  The corporation may be dissolved on:
(1)  approval of the commissioner;
(2)  unanimous approval of the board;  and
(3)  approval of two-thirds of the member associations.
(b)  The corporation may be dissolved if member associations are required to contribute to any fund similar to the corporation's primary account, other than a fund in which member associations pay premiums to the Federal Deposit Insurance Corporation for insurance of accounts.
(c)  The commissioner and the board shall establish procedures for dissolution.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter C. Operation of Corporation › Section 273.211. Effect of Dissolution

Sec. 273.211.  EFFECT OF DISSOLUTION.  (a)  On dissolution, money in the primary account shall be used to redeem all securities issued by the corporation and held by a member association.  If money in the primary account is insufficient to redeem the securities, the administrative account may be used.
(b)  On dissolution, the earnings of the corporation accrue to this state and may not be distributed to any other person.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter D. Primary and Administrative Accounts; Issuance of Securities › Section 273.301. Required Purchase of Securities

Sec. 273.301.  REQUIRED PURCHASE OF SECURITIES.  (a)  The corporation, acting on the direction of the board under the plan of operation, may require a member association to purchase by a certain date preferred stock, a certificate of participation, or another type of security issued by the corporation that accrues interest or pays a dividend at a specified rate or a variable rate determined by a specific method of computation.
(b)  The commissioner may defer in whole or in part a purchase required by Subsection (a) if the commissioner believes the purchase would endanger the ability of the member association to maintain its solvency.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter D. Primary and Administrative Accounts; Issuance of Securities › Section 273.302. Amount of Security Purchase

Sec. 273.302.  AMOUNT OF SECURITY PURCHASE.  The aggregate amount of securities of any type a member association may be required to purchase under Section 273.301 may not exceed an amount equal to two percent of the total assets of the association as shown on the association's annual statement filed with the commissioner as required by law for the calendar year preceding the date of the required purchase.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter D. Primary and Administrative Accounts; Issuance of Securities › Section 273.303. Primary Account

Sec. 273.303.  PRIMARY ACCOUNT.  (a)  Money from the sale of the corporation's securities constitutes the primary account of the corporation.
(b)  Money in the primary account may be invested in:
(1)  a certificate of deposit or other interest-bearing account in a savings and loan association or commercial bank domiciled in this state;  or
(2)  securities that:
(A)  will mature in not longer than five years;
(B)  are issued by the United States government, this state, or a municipality or other governmental entity of this state;  and
(C)  are direct obligations of or secured by the full faith and credit of the issuer.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter D. Primary and Administrative Accounts; Issuance of Securities › Section 273.304. Administrative Account

Sec. 273.304.  ADMINISTRATIVE ACCOUNT.  The corporation shall establish an administrative account in which the corporation shall deposit earnings, including interest, on the investment of money in the primary account.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter D. Primary and Administrative Accounts; Issuance of Securities › Section 273.305. Authorized Expenditures

Sec. 273.305.  AUTHORIZED EXPENDITURES.  (a)  The corporation may spend money from the administrative account for the usual business operations of the corporation.
(b)  On the commissioner's request, the corporation shall use money in the administrative account or primary account to:
(1)  aid a member association under conservatorship;  and
(2)  rehabilitate a member association placed under conservatorship as authorized by law and minimize the chance the association will be liquidated.
(c)  The total amount used to aid a member association under Subsection (b)(1) may not exceed the lesser of:
(1)  10 percent of the balance of the primary account;  or
(2)  20 percent of the association's assets.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter D. Primary and Administrative Accounts; Issuance of Securities › Section 273.306. Form and Terms of Security Issue

Sec. 273.306.  FORM AND TERMS OF SECURITY ISSUE.  The board shall determine the form and terms of, and any other matter not covered by this chapter relating to, each security issue under this subchapter.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter D. Primary and Administrative Accounts; Issuance of Securities › Section 273.307. Allocation of Security Issue

Sec. 273.307.  ALLOCATION OF SECURITY ISSUE.  The corporation shall allocate each security issue under Section 273.301 ratably among the member associations based on the ratio of each association's total assets on December 31 of the year preceding the date on which the securities are purchased to the total assets of all member associations on that date.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter D. Primary and Administrative Accounts; Issuance of Securities › Section 273.308. Limitation on Issuance of Securities

Sec. 273.308.  LIMITATION ON ISSUANCE OF SECURITIES.  When the balance of the administrative account reaches the greater of $50 million or five percent of the balance of the primary account, the corporation shall stop issuing securities until the balance of the administrative account is less than $50 million or five percent of the balance of the primary account, as appropriate.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter E. Assistance Provided to Member Associations Under Conservatorship › Section 273.401. General Assistance

Sec. 273.401.  GENERAL ASSISTANCE.  On the commissioner's request and under the commissioner's instruction, the corporation shall assist in the merger, consolidation, conservation, rehabilitation, or supervision of a member association under conservatorship.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter E. Assistance Provided to Member Associations Under Conservatorship › Section 273.402. Assistance in Transferring or Disposing of Property

Sec. 273.402.  ASSISTANCE IN TRANSFERRING OR DISPOSING OF PROPERTY.  The corporation shall make or issue to the appropriate person, with the commissioner's approval, a guaranty or other form of written assurance that is reasonably necessary to facilitate the transfer or other disposition of all or part of the property of a member association under conservatorship.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter E. Assistance Provided to Member Associations Under Conservatorship › Section 273.403. Advance of Money

Sec. 273.403.  ADVANCE OF MONEY.  (a)  The corporation shall advance money on terms the board may establish to directly aid or to provide special services for a member association under conservatorship so the association may continue to operate and maintain solvency.
(b)  The corporation may charge interest on the money it advances under this section.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter E. Assistance Provided to Member Associations Under Conservatorship › Section 273.404. Purchase of Interest in Assets

Sec. 273.404.  PURCHASE OF INTEREST IN ASSETS.  (a)  The corporation shall purchase from a member association under conservatorship an interest in the association's assets at a price agreed to by the conservator and the board, regardless of whether the price exceeds the market value of the purchased assets.
(b)  A purchase must be made on the terms the board determines.  The commissioner must approve the terms of the purchase in writing.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter E. Assistance Provided to Member Associations Under Conservatorship › Section 273.405. Procedure for Merger, Sale of Control Of, or Sale of Assets

Sec. 273.405.  PROCEDURE FOR MERGER, SALE OF CONTROL OF, OR SALE OF ASSETS.  A merger, sale of control, or sale of any of the assets of a member association under conservatorship in aid of which money from an account under this chapter has been advanced may be accomplished in the form and by the procedure the board and the commissioner consider appropriate.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter F. Administrative Provisions › Section 273.501. Annual Financial Statement

Sec. 273.501.  ANNUAL FINANCIAL STATEMENT.  (a)  Not later than April 1 of each year, the board shall submit to the commissioner an audited financial statement for the preceding calendar year, prepared in accordance with consistently applied generally accepted accounting principles.
(b)  An independent certified public accountant must certify the financial statement.
(c)  The commissioner may require additional necessary information.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter F. Administrative Provisions › Section 273.502. Effect of Membership

Sec. 273.502.  EFFECT OF MEMBERSHIP.  In regulating a savings and loan association, the commissioner may not give preferential treatment to or discriminate against that association solely because that association is or is not a member of the corporation.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter F. Administrative Provisions › Section 273.503. Amount to Be Spent Before Certification of Insolvency of Member Association

Sec. 273.503.  AMOUNT TO BE SPENT BEFORE CERTIFICATION OF INSOLVENCY OF MEMBER ASSOCIATION.  The commissioner must spend the amount prescribed by Section 273.201(a)(7) before certifying a member association to be insolvent.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 273 - Savings and Loan Supplemental Fund Act › Subchapter F. Administrative Provisions › Section 273.504. Fee and Tax Exemption

Sec. 273.504.  FEE AND TAX EXEMPTION.  The corporation is exempt from fees and taxes imposed by this state or a political subdivision of this state, except a tax imposed on real property.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 274 - Substitute or Successor Fiduciary › Subchapter A. General Provisions › Section 274.001. Definitions

Sec. 274.001.  DEFINITIONS.  In this chapter:
(1)  "Bank" has the meaning assigned by Section 31.002(a)(2), excluding a bank that does not have its main office or a branch located in this state.
(2)  "Bank holding company" has the meaning assigned by Section 2(a), Bank Holding Company Act of 1956 (12 U.S.C. Section 1841(a)), as amended.
(3)  "Commissioner" means the banking commissioner of Texas.
(4)  "Fiduciary" means an entity responsible for managing a fiduciary account.
(5)  "Fiduciary account" means an account with a situs of administration in this state involving the exercise of a corporate purpose specified by Section 182.001(b).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.51, eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 344, Sec. 2.030, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 78, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 274 - Substitute or Successor Fiduciary › Subchapter A. General Provisions › Section 274.002. Affiliated Bank

Sec. 274.002.  AFFILIATED BANK.  A bank is affiliated with a subsidiary trust company if more than 50 percent of the bank's voting stock is directly or indirectly owned by a bank holding company that owns more than 50 percent of the voting stock of the subsidiary trust company.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.030, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 274 - Substitute or Successor Fiduciary › Subchapter A. General Provisions › Section 274.003. Subsidiary Trust Company

Sec. 274.003.  SUBSIDIARY TRUST COMPANY.  An entity is a subsidiary trust company of a bank holding company if:
(1)  the entity is a:
(A)  trust company organized under Subchapter A, Chapter 182; or
(B)  bank that is organized to conduct a trust business and any incidental business or to exercise trust powers; and
(2)  more than 50 percent of the voting stock of the entity is directly or indirectly owned by the bank holding company.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.52, eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 344, Sec. 2.030, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 79, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses › Chapter 274 - Substitute or Successor Fiduciary › Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries › Section 274.101. Agreement to Substitute Fiduciaries

Sec. 274.101.  AGREEMENT TO SUBSTITUTE FIDUCIARIES.  (a)  A subsidiary trust company may enter into an agreement with an affiliated bank of the company to substitute the company as fiduciary for the bank in each fiduciary account listed in the agreement, provided the situs of account administration is not moved outside of this state without the express written consent of all persons entitled to notice under Sections 274.103(a) and (c).
(b)  The agreement must include:
(1)  a list of each fiduciary account for which substitution is requested;
(2)  a statement of whether the substitution will cause a change in the situs of administration of each fiduciary account;  and
(3)  the effective date of the substitution, which may not be before the 91st day after the date of the agreement.
(c)  The agreement must be filed with the commissioner before the date the substitution takes effect.
(d)  A fiduciary account may be removed from the operation of the agreement by the filing of an amendment to the agreement with the commissioner before the effective date stated in the agreement.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.031, eff. Sept. 1, 1999.