2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle C - Savings Banks › Chapter 91 - General Provisions › Section 91.002. Definitions

Sec. 91.002.  DEFINITIONS.  In this subtitle:
(1)  "Appropriate banking agency":
(A)  means:
(i)  with respect to a savings bank chartered by this state, the Department of Savings and Mortgage Lending;
(ii)  with respect to a federal savings bank, the Office of the Comptroller of the Currency;
(iii)  with respect to a savings and loan association chartered by this state, the Department of Savings and Mortgage Lending;
(iv)  with respect to a federal savings and loan association, the Office of the Comptroller of the Currency;
(v)  with respect to a bank chartered by this state, the Texas Department of Banking;
(vi)  with respect to a national bank, the Office of the Comptroller of the Currency; and
(vii)  with respect to a bank, savings bank, or savings and loan association chartered by another state, the chartering agency; and
(B)  includes:
(i)  in each case in which a state bank is a member of the Federal Reserve System, the board of governors of the Federal Reserve System;
(ii)  in each case where required by the Federal Deposit Insurance Act (12 U.S.C. Section 1811 et seq.), the Federal Deposit Insurance Corporation; and
(iii)  any successor of a state or federal agency specified by this subdivision.
(2)  "Board" means the board of directors of a savings bank or the managers of a savings bank organized as a limited savings bank.
(3)  "Capital stock" means the units into which the proprietary interest in a capital stock savings bank is divided.
(4)  "Capital stock savings bank" means a savings bank authorized to issue capital stock.
(5)  "Commissioner" means the savings and mortgage lending commissioner.
(6)  "Company" means a corporation, partnership, trust, joint-stock company, association, unincorporated organization, or other legal entity, or a combination of any of those entities acting together.
(7)  "Deposit account" means a savings account, certificate of deposit, withdrawable deposit, demand deposit account, checking account, or any other term referring to the amount of money a savings bank owes an account holder as the result of the deposit of money in the savings bank.
(8)  "Deposit liability" means the aggregate amount of money shown by the books of the savings bank to be owed the savings bank's deposit account holders after applying any legal or contractual reduction.
(9)  "Domestic savings bank" means a savings bank organized under the laws of this state.
(10)  "Earnings on account" means interest contractually payable or dividends declared payable to holders of deposit accounts in a savings bank.
(11)  "Federal Deposit Insurance Corporation" includes any successor.
(12)  "Federal savings bank" means a savings bank incorporated under the laws of the United States.
(13)  "Finance commission" means the Finance Commission of Texas.
(14)  "Financial institution" has the meaning assigned by Section 201.101.
(15)  "Foreign savings bank" means a savings bank:
(A)  organized under the laws of:
(i)  a state of the United States other than this state;  or
(ii)  the United States;  and
(B)  the principal office of which is located outside this state.
(16)  "Holding company" means a company that directly or indirectly controls a savings bank or controls another company that directly or indirectly controls a savings bank.
(16-a)  "Limited savings bank" means a savings bank electing to be organized as a limited liability company under this subtitle.
(17)  "Loss reserves" means the aggregate amount of the reserves allocated by a savings bank solely to absorb losses.
(18)  "Member" means:
(A)  with respect to a mutual savings bank, a person:
(i)  holding an account with the mutual savings bank;
(ii)  assuming or obligated on a loan in which the mutual savings bank has an interest; or
(iii)  owning property that secures a loan in which the mutual savings bank has an interest; or
(B)  with respect to a savings bank organized as a limited savings bank, a person who owns a membership interest in the limited savings bank.
(19)  "Mutual savings bank" means a savings bank not authorized to issue capital stock.
(20)  "Regulatory capital" means a common stockholders' equity, including retained earnings, noncumulative perpetual preferred stock and related earnings, minority interests in the equity accounts of fully consolidated subsidiaries, and other elements established by rules of the finance commission.
(21)  "Savings bank" means an institution organized under or subject to this subtitle.
(22)  "Shareholder" means the owner of capital stock.
(23)  "Surplus" means the aggregate amount of:
(A)  the undistributed earnings of a savings bank held as undivided profits or unallocated reserves for general corporate purposes;  and
(B)  paid-in surplus held by the savings bank.
(24)  "Unsafe and unsound practice" means an action or inaction in the operation of a savings bank that is likely to:
(A)  cause insolvency or substantial dissipation of assets or earnings;  or
(B)  reduce the ability of the savings bank to timely satisfy withdrawal requests of deposit account holders.
(25)  "Withdrawal value of deposit account" means the net amount of money that may be withdrawn by an account holder from a deposit account after applying any legal or contractual reduction.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.32(a), eff. Sept. 1, 1999;  Acts 2001, 77th Leg., ch. 867, Sec. 33, eff. Sept. 1, 2001;  Acts 2003, 78th Leg., ch. 172, Sec. 1, eff. Sept. 1, 2003.
Amended by:
Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.02, eff. September 1, 2005.
Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.037, eff. September 1, 2007.
Acts 2013, 83rd Leg., R.S., Ch. 464 (S.B. 1008), Sec. 9, eff. September 1, 2013.