reglab/statecodes huggingface dataset:
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 60 - SAVINGS ASSOCIATIONS › Subchapter D - LOANS, INVESTMENTS, SAVINGS, AND DEPOSITS › Division 2 - SUBSIDIARIES › Section 60.325 - Subsidiary Investment and Debt Limitation

Current through Reg. 49, No. 28; July 12, 2024
Investment in subsidiaries is deemed to include
						investment in the subsidiary's capital stock, paid-in capital, subordinated
						debentures, unsecured loans, advances, contingencies, and other obligations
						(excluding secured conforming loans), and may not, in the aggregate, exceed 10%
						of the savings association's total assets without prior
						approval.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 60 - SAVINGS ASSOCIATIONS › Subchapter D - LOANS, INVESTMENTS, SAVINGS, AND DEPOSITS › Division 2 - SUBSIDIARIES › Section 60.326 - Operating Subsidiaries

Current through Reg. 49, No. 28; July 12, 2024
A savings association is authorized to invest in
						operating subsidiaries, the activities of which are exclusively limited to
						activities which could be conducted directly by the parent savings association.
						Because an operating subsidiary is limited to activities that could otherwise
						be conducted directly by the savings association, operating subsidiary
						investment is not limited by the percentage of assets or dollar amount
						restrictions applicable to subsidiary corporations as set forth in §
											60.325 of this title (relating to
						Subsidiary Investment and Debt Limitation). Notwithstanding this exclusion, all
						other provisions of this chapter applicable to a subsidiary apply equally to an
						operating subsidiary.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 60 - SAVINGS ASSOCIATIONS › Subchapter D - LOANS, INVESTMENTS, SAVINGS, AND DEPOSITS › Division 3 - SAVINGS AND DEPOSITS › Section 60.331 - User Safety at Unmanned Teller Machines

Current through Reg. 49, No. 28; July 12, 2024
(a) Definitions.
					 Words and terms used in this subchapter that are defined in the Finance Code
					 §
											59.301, have the same
					 meanings assigned by such section.
(b) Measurement of Candle Foot Power. For
					 purposes of measuring compliance with the Finance Code §
											59.307, candle foot
					 power should be determined under normal, dry weather conditions, without
					 complicating factors such as fog, rain, snow, sand or dust storm, or other
					 similar condition.
(c) Leased
					 premises.
(1) Noncompliance by Landlord.
					 Pursuant to the Finance Code, §
												59.306, the landlord or
					 owner of property is required to comply with the safety procedures of the
					 Finance Code, Chapter 59, Subchapter D, if an access area or defined parking
					 area for an unmanned teller machine is not controlled by the owner or operator
					 of the unmanned teller machine. If an owner or operator of an unmanned teller
					 machine on leased premises is unable to obtain compliance with safety
					 procedures from the landlord or owner of the property, the owner or operator
					 must notify the landlord in writing of the requirements of the Finance Code
					 Chapter 59, Subchapter D, and of those provisions for which the landlord is in
					 noncompliance.
(2) Enforcement.
					 Noncompliance with safety procedures required by the Finance Code Chapter 59,
					 Subchapter D, by a landlord or owner of property after receipt of written
					 notification from the owner or operator constitutes a violation of the Finance
					 Code Chapter 59, Subchapter D, which may be enforced by the Texas Attorney
					 General.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter A - GENERAL PROVISIONS › Section 75.1 - Purpose and Applicability

Current through Reg. 49, No. 28; July 12, 2024
This chapter governs the chartering, administration, and
					 operations of a Texas-chartered savings bank, including the affiliates and
					 third-party service providers of a savings bank under Finance Code Title 3,
					 Subtitle C, the Texas Savings Bank Act (Finance Code §
										91.001
et
					 seq.
).
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter A - GENERAL PROVISIONS › Section 75.2 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
As used in this chapter, and in the Commissioner's
					 administration and enforcement of Finance Code Title 3, Subtitle C, the
					 following words and terms are assigned the following meanings, unless the
					 context clearly indicates otherwise.
(1) Affiliate--An affiliate of, or person
				  affiliated with, a person that directly or indirectly, through one or more
				  intermediaries, controls or is controlled by, or is under common control with,
				  the person specified.
(2)
				  Affiliated person--
(A) a director, officer,
				  or controlling person of a savings bank;
(B) a spouse of a director, officer, or
				  controlling person of a savings bank;
(C) a member of the immediate family of a
				  director, officer, or controlling person of a savings bank, who is a director
				  or officer of any subsidiary of a savings bank or of any holding company
				  affiliate of a savings bank;
(D)
				  any company (other than the savings bank, its holding company, or an operating
				  subsidiary) of which a director, officer, or controlling person of a savings
				  bank:
(i) is a director or officer;
(ii) in the case of a limited liability
				  company, is a manager or managing member;
(iii) in the case of a partnership, is a
				  general partner;
(iv) in the case
				  of a partnership, is a limited partner who, directly or indirectly, either
				  alone or with his or her spouse and the members of their immediate family who
				  are also affiliated persons of the savings bank, owns an interest of 10% or
				  more in the partnership (based on the value of their contribution) or who,
				  directly or indirectly with other directors, officers, and controlling persons
				  of a savings bank, and their spouses and their immediate family members who are
				  also affiliated persons of the savings bank, owns an interest of 25% or more in
				  the partnership; or
(v) directly or
				  indirectly, either alone or with their spouse and the members of their
				  immediate family, who are also affiliated persons of the savings bank, owns or
				  controls 10% or more of any class of equity securities, or owns or controls
				  with other directors, officers, and controlling persons of a savings bank and
				  their spouses and their immediate family members, who are also affiliated
				  persons of the savings bank, 25% or more of any class of equity securities;
				  and
(E) any trust or
				  other estate in which a director, officer, or controlling person of a savings
				  bank, or a member of the director's, officer's, or controlling person's
				  immediate family, has a substantial beneficial interest or as to which such
				  person or his or her spouse serves as trustee or in a similar fiduciary
				  capacity.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 1 - GENERAL PROVISIONS › Section 75.101 - Application Filing Requirements

Current through Reg. 49, No. 28; July 12, 2024
(a) Purpose and
					 Applicability. Applications submitted to the Department must comply with the
					 requirements of this section.
(b)
					 Application Forms. All applications must be made on the current form for the
					 application prescribed by the Commissioner.
(c) Incomplete Filings; Notice of Acceptance;
					 Deemed Withdrawal. An application is complete only if all required information
					 and supporting documentation is included and all required fees are received.
					 Within 30 days of receipt of an application the Commissioner or the
					 Commissioner's designee will issue a written notice to the applicant informing
					 them either that the application is complete and accepted for filing, or that
					 the application is incomplete and specifying the information required to render
					 the application complete. The application may be deemed withdrawn and the
					 applicable fee forfeited if, within 30 days of being notified the application
					 was incomplete, the applicant fails to provide to the Department the
					 supplemental information or supporting documentation necessary to render the
					 application complete.
(d) Duty to
					 Supplement. The applicant has a continuing obligation and duty to supplement
					 the application with any other information or supporting documentation
					 requested by the Commissioner in writing. The applicant must provide any
					 information or supporting documentation submitted in connection with any
					 related application made to the appropriate federal agency, to the extent not
					 previously provided to the Department.
(e) Duty to Amend. If a material change
					 occurs in the facts contained in or information furnished in support of the
					 application, the applicant must file an amended application or otherwise
					 supplement the application to address the material change. The applicant must
					 endeavor to resolve any potential changes or amendments to the application
					 prior to publishing public notice of the application as provided by §
					 75.103 of this title (relating to Public Notice of Application). The
					 Commissioner may, in his or her sole discretion, require the applicant to
					 republish the public notice.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 1 - GENERAL PROVISIONS › Section 75.102 - Application Fees and Charges

Current through Reg. 49, No. 28; July 12, 2024
(a) Filing Fees. An
					 applicant must pay the following filing fees, unless an expedited filing fee
					 applies (see subsection (b) of this section):
(1) Charter Application and Amendments.
(A) Charter application: $10,000.
(B) Change of name: $500.
(C) Certificate of formation or bylaws
					 amendments: $100 per request.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 1 - GENERAL PROVISIONS › Section 75.103 - Public Notice of Application

Current through Reg. 49, No. 28; July 12, 2024
If an application requires that notice to the public be
						given, such notice must comply with the requirements of this section, unless
						otherwise provided by § 75.152 of this title (relating to Expedited
						Applications). The notice must use language and content preapproved by the
						Commissioner prior to publishing. The notice must be submitted to the publisher
						for publication within 15 days after the date the applicant receives notice
						that the application is complete and accepted for filing as provided by §
						75.101 of this title (relating to Application Filing Requirements). The notice
						must be published in an English language newspaper of general circulation in
						each county required by the rule(s) governing such application. The applicant
						must, within 10 days after publishing the notice, provide the Commissioner with
						a publisher's affidavit evidencing that the notice was properly published in
						conformity with this section. The notice is deemed properly effected when the
						appropriate notice has been published in conformity with this section, and more
						than 10 days have elapsed.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 1 - GENERAL PROVISIONS › Section 75.104 - Motions for Rehearing

Current through Reg. 49, No. 28; July 12, 2024
A motion for rehearing pursuant to Finance Code §
											91.006 must be
						filed not later than the 14th day after the date the decision or order that is
						the subject of the motion is signed. A copy of the motion for rehearing must be
						served on all parties who made an appearance or otherwise submitted a filing in
						the proceeding, and the motion must include a certificate of service reciting
						the parties served and the method of service. A party must file a reply to the
						motion for rehearing, if any, not later than the 30th day after the date the
						decision or order that is the subject of the motion is signed. The Commissioner
						must act on the motion for rehearing not later than the 45th day after the date
						the decision or order that is the subject of the motion for rehearing is signed
						or the motion for rehearing is deemed overruled by operation of
						law.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 2 - CHARTER APPLICATIONS AND AMENDMENTS › Section 75.123 - Certificate of Formation or Bylaws Amendments

Current through Reg. 49, No. 28; July 12, 2024
(a) Approval
					 Required. A savings bank may not amend its certificate of formation, bylaws, or
					 other governing documents without the prior written approval of the
					 Commissioner.
(b) Application
					 Requirements. The application to amend the savings bank's certificate of
					 formation, or bylaws must include the proposed amendments together with an
					 explanation as to why the amendments are necessary.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 3 - OFFICE LOCATIONS › Section 75.131 - Branch Office

Current through Reg. 49, No. 28; July 12, 2024
(a) Approval
					 Required. A savings bank may not establish a branch office or an additional
					 office as provided by § 75.202 of this title (relating to Types of
					 Additional Offices) without prior written approval of the Commissioner. A
					 branch office application is required if a state savings bank would like to
					 establish and operate a courier/messenger service pursuant to § 75.202 of
					 this title (relating to Types of Additional Offices).
(b) Required Information. The application
					 must provide the following information, subscribed to and sworn before a
					 notary:
(1) proposed location for the
					 office;
(2) the personnel and
					 office facilities to be provided;
(3) the estimated cost and projected profits
					 of such office; and
(4) any
					 information deemed necessary by the Commissioner to render a determination on
					 the matters set forth in subsection (c) of this section.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 3 - OFFICE LOCATIONS › Section 75.132 - Mobile Facility

Current through Reg. 49, No. 28; July 12, 2024
(a) Approval
					 Required. A savings bank may not establish a mobile facility as provided by
					 § 75.202 of this title (relating to Types of Additional Offices) without
					 prior written approval of the Commissioner.
(b) Required Information. The application
					 must provide the following information, subscribed to and sworn before a
					 notary:
(1) the proposed location(s) at and
					 times during which the mobile facility will operate;
(2) the need for the mobile facility within
					 the community;
(3) the personnel
					 and office facilities to be provided; and
(4) the estimated expense to operate the
					 mobile facility.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 3 - OFFICE LOCATIONS › Section 75.133 - Relocate Home or Additional Office

Current through Reg. 49, No. 28; July 12, 2024
(a) Approval
					 Required. A savings bank may not move its home office or any additional office
					 as provided by § 75.202 of this title (relating to Types of Additional
					 Offices) beyond its immediate vicinity without the prior written approval of
					 the Commissioner.
(b) Immediate
					 Vicinity. The term "Immediate vicinity" as used in Finance Code §
											92.063
					 means the area within a radius of 1 mile from the present location of such
					 office. However, if the office to be relocated has not been open for business
					 at its present location for more than 2 years, approval in accordance with this
					 section is required as if the office were not within the immediate vicinity. If
					 the existing office has been open for more than 2 years, prior written notice
					 must be provided to the Commissioner describing the saving bank's plans for the
					 relocation, including the precise location for the new office, the date of the
					 relocation, and information supporting that the new location of the office will
					 be within the immediate vicinity of the present location and does not require
					 the Commissioner's approval.
(c)
					 Relocation of Existing Offices. Notwithstanding subsection (a) of this section,
					 a savings bank may retain its existing home office as a branch office and
					 relocate its home office to another established branch office by providing the
					 Commissioner with prior written notice. Upon such notification, the
					 establishment of such office is deemed to be an approved branch office of the
					 savings bank.
(d) Required
					 Information. Each application for prior approval, or prior written notice,
					 whichever is applicable, must provide the following information, subscribed to
					 and sworn before a notary:
(1) the addresses
					 of the existing or new office location;
(2) a description of the land and building to
					 be built or leased and terms thereof;
(3) estimates of the cost of removal to and
					 maintenance of the new location;
(4) whether any affiliated parties are
					 involved in transactions regarding the purchase, sale, construction, or lease
					 of the new proposed office;
(5)
					 evidence of the board's approval of the relocation; and
(6) any other information deemed necessary by
					 the Commissioner.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 4 - REORGANIZATION, MERGER, CONSOLIDATION, CONVERSION, PURCHASE, AND ASSUMPTION AND ACQUISITION › Section 75.141 - Reorganization, Merger, Consolidation or Purchase and Assumption Transaction - Resulting in a Savings Bank

Current through Reg. 49, No. 28; July 12, 2024
(a) Applicability.
					 This section governs:
(1) A reorganization,
					 merger, or consolidation transaction in which the resulting institution will be
					 a savings bank; and
(2) A purchase
					 and assumption transaction by a savings bank as purchaser.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 4 - REORGANIZATION, MERGER, CONSOLIDATION, CONVERSION, PURCHASE, AND ASSUMPTION AND ACQUISITION › Section 75.142 - Exemption for Supervisory Merger

Current through Reg. 49, No. 28; July 12, 2024
(a) The
					 Commissioner may designate a transaction under § 75.141 of this title
					 (relating to Reorganization, Merger, Consolidation or Purchase and Assumption
					 Transaction - Resulting in a Savings Bank) as a supervisory merger when:
(1) the Commissioner has placed one or more
					 of the savings banks involved under voluntary supervisory control or under
					 conservatorship pursuant to the Texas Savings Bank Act;
(2) the Commissioner has determined that one
					 or more of the savings banks involved is in an unsafe condition; or
(3) the FDIC has determined, and certified to
					 the Commissioner, that the merger of one or more of the institutions involved
					 is necessary to prevent the failure or possible failure of the said
					 institution.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 4 - REORGANIZATION, MERGER, CONSOLIDATION, CONVERSION, PURCHASE, AND ASSUMPTION AND ACQUISITION › Section 75.143 - Reorganization, Merger or Conversion by a Savings Bank to Another Financial Institution Charter

Current through Reg. 49, No. 28; July 12, 2024
(a) A savings bank
					 is authorized to reorganize, merge, or convert into another type of financial
					 institution charter subject to applicable law and regulation relating to the
					 type of charter which will be held by the resulting institution.
(b) The Commissioner must be given written
					 notice of the intention of the savings bank to reorganize, merge, or convert no
					 less than 30 days prior to the proposed transaction.
(c) The savings bank must file with the
					 Commissioner:
(1) a copy of the application
					 filed with the appropriate banking agency having jurisdiction over the
					 surviving financial institution;
(2) a certified copy of all minutes of
					 meetings of the board, shareholders, or members;
(3) a publisher's certificate certifying the
					 publication of the notice required to be published by the appropriate banking
					 agency; and
(4) evidence to ensure
					 that no undue harm will be caused to the public interest or to any other
					 existing financial institution.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 4 - REORGANIZATION, MERGER, CONSOLIDATION, CONVERSION, PURCHASE, AND ASSUMPTION AND ACQUISITION › Section 75.144 - Conversion into a Savings Bank

Current through Reg. 49, No. 28; July 12, 2024
(a) The
					 Commissioner may authorize any financial institution to convert itself into a
					 savings bank in a manner consistent with the provisions of applicable law and
					 regulations of the institution.
(b)
					 Plan and Application. In order to obtain such authorization, the converting
					 institution's board must approve and authorize the filing of a conversion plan
					 and application. Upon approval of the conversion plan, the plan must be
					 approved by a majority vote of the members or shareholders of the financial
					 institution entitled to vote at any annual or special meeting called to
					 consider such conversion, a resolution declaring that the savings bank will be
					 so converted, which resolution, verified by affidavit of the secretary or an
					 assistant secretary, must be filed with the Commissioner and mailed to the
					 appropriate banking agency within 10 days after the date of its adoption. At
					 the meeting to vote on a conversion to a savings bank, the members or
					 stockholders must also vote on the directors of the savings bank. The proposed
					 directors must execute an application for savings bank charter as provided by
					 Finance Code Chapter 92, Subchapter B, and §
											75.121 of this title (relating to
					 Savings Bank Charter).
(c) Review
					 by Commissioner; Approval. The Commissioner, on receipt of the application and
					 verified copy of the minutes, will conduct an examination of the financial
					 institution seeking conversion. Following the examination, the Commissioner
					 will approve the conversion without a hearing if the Commissioner determines
					 that the converting financial institution is in sound condition and meets all
					 standards, conditions, and requirements of Finance Code Chapter 92, Subchapter
					 B, and §
											75.121 of this title.
(d) Denial; Request for Hearing. An applicant
					 is entitled to a hearing under Chapter 2001 of the Texas Government Code if the
					 Commissioner denies an application to convert and a written request for a
					 hearing is delivered to the Commissioner within 10 days after the date of
					 denial. A hearings officer designated by the Commissioner will hold the
					 hearing. The Commissioner will render a decision within 30 days after the date
					 the hearings officer issues his or her proposal for decision and the applicable
					 time period for filing exceptions to the proposal for decision and replies to
					 such exceptions has lapsed without the hearings officer amending the proposal
					 for decision. Only then will the hearing be deemed to be completed for purposes
					 of Finance Code §
											92.304.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 4 - REORGANIZATION, MERGER, CONSOLIDATION, CONVERSION, PURCHASE, AND ASSUMPTION AND ACQUISITION › Section 75.145 - Mutual to Stock Conversion

Current through Reg. 49, No. 28; July 12, 2024
(a) The application
					 for mutual to stock conversion must include:
(1) a plan of conversion;
(2) amendments to the savings bank's
					 certificate of formation and bylaws;
(3) a copy of the proxy and soliciting
					 materials to be used; and
(4) such
					 other information the Commissioner may require.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 5 - EXPEDITED APPLICATIONS › Section 75.151 - Eligible Institution

Current through Reg. 49, No. 28; July 12, 2024
An eligible institution is a financial institution
						that:
(1) is well capitalized as
					 defined by
					 12 C.F.R. §
												324.403;
(2) received a composite rating of either 1
					 or 2 as defined by the Uniform Financial Institutions Rating System (CAMELS) at
					 the most recent examination by the Department or federal regulatory agencies,
					 and management is rated either 1 or 2;
(3) received a CRA and compliance rating of
					 satisfactory or above at the savings bank's most recent inspection by the
					 appropriate federal banking agency;
(4) is not operating in violation of a
					 regulatory condition or directive imposed by the state or federal banking
					 regulatory agency; and
(5) is not
					 operating under a supervisory action of, or a plan for remedial or corrective
					 action imposed by, a state or federal banking agency.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 5 - EXPEDITED APPLICATIONS › Section 75.152 - Expedited Applications

Current through Reg. 49, No. 28; July 12, 2024
(a) An eligible
					 institution as defined in § 75.151 of this title (relating to Eligible
					 Institution) may file an expedited filing in lieu of an application required
					 pursuant to § 75.131 of this title (relating to Branch Office), §
					 75.132 of this title (relating to Mobile Facility), § 75.133 of this title
					 (relating to Relocate Home or Branch Office Location), or § 75.111 of this
					 title (relating to Reorganization, Merger, Consolidation or Purchase and
					 Assumption Transaction - Resulting in a Savings Bank), and simultaneously
					 tender the required filing fee pursuant to § 75.102 of this title
					 (relating to Application Fees and Charges).
(b) An expedited filing must include the
					 following items, unless waived in writing by the Commissioner:
(1) a detailed description of the
					 transaction;
(2) a pro forma
					 balance sheet and income statement for all parties to the transaction,
					 including adjustments, reflecting the proposed transaction as of the most
					 recent quarter ended immediately prior to the filing of the application,
					 demonstrating that the resulting state savings bank is well capitalized as
					 defined by
					 12 C.F.R. §
													324.403, including pro forma financials for
					 the first four quarters after the effective date of the transaction;
(3) a certified resolution of the board and,
					 if required, shareholders approving the proposed transaction;
(4) copies of all other required regulatory
					 notices or filings submitted concerning the transaction; and
(5) evidence satisfactory to the Commissioner
					 that a public notice of the application has been published and effected as
					 provided by § 75.103 of this title (relating to Public Notice of
					 Application), published in each county where a non-expedited application is
					 required to be published (however, the requirement for the publication to be
					 preapproved by the Commissioner does not apply to an application made in
					 accordance with this section, and the notice may be published contemporaneously
					 with the application being submitted; provided, the notice is otherwise deemed
					 to be acceptable to the Commissioner).
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 5 - EXPEDITED APPLICATIONS › Section 75.153 - Denial of Expedited Treatment

Current through Reg. 49, No. 28; July 12, 2024
(a) The
					 Commissioner may deny expedited filing treatment to an otherwise eligible
					 applicant if the Commissioner determines in his or her sole discretion that the
					 proposed transaction involves significant policy, supervisory, or legal issues;
					 is contingent upon other statutory or regulatory approval; results in an entity
					 that is not a financial institution; or involves an entity that is not
					 domiciled in Texas.
(b) The
					 Commissioner will provide written notification to the applicant within 15 days
					 after the date the expedited filing is complete and has been accepted for
					 filing as provided by § 75.101 of this title (relating to Application
					 Filing Requirements) if expedited filing treatment is denied, indicating the
					 reason for denial.
(c) A decision
					 by the Commissioner to deny expedited treatment is final and may not be
					 appealed.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 6 - CHANGE OF CONTROL › Section 75.162 - Notice and Hearing

Current through Reg. 49, No. 28; July 12, 2024
(a) Public Notice.
					 An applicant timely requesting a hearing on the Commissioner's decision to deny
					 the application must publish a public notice of the application as provided by
					 § 75.103 of this title (relating to Public Notice of Application), which
					 must be published in the county where the savings bank has its home office.
					 Such notice, when properly effected, is deemed to be the Commissioner's public
					 notice of the application for purposes of Finance Code §
											92.557.
(b) Hearing. If a hearing is required, the
					 Commissioner will set a hearing on the denial within 60 days after the date the
					 request for a hearing on the denial was received. The hearing is governed by
					 the procedural requirements concerning contested cases set forth in Chapter 9
					 of this title (relating to Rules of Procedure for Contested Case Hearings,
					 Appeals, and Rulemakings).
(c) Time
					 of Decision. To the extent a hearing on the Commissioner's decision to deny the
					 application is required, the Commissioner will render a decision within 30 days
					 after the date the hearings officer issues his or her proposal for decision and
					 the applicable time period for filing exceptions to the proposal for decision
					 and replies to such exceptions has lapsed without the hearings officer amending
					 the proposal for decision, unless the Commissioner establishes a longer time
					 period, with written notice to the applicant.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 6 - CHANGE OF CONTROL › Section 75.163 - Retention of Control

Current through Reg. 49, No. 28; July 12, 2024
(a) The following
					 conditions affecting any controlled savings bank, regardless of when or how
					 such control has been acquired, are grounds for the Commissioner to
					 investigate, seek to enjoin, or set aside any change of control of a savings
					 bank, if the Commissioner deems the transfer to be against the public interest:
(1) the violation of any law, these
					 regulations, abuse of the fiduciary responsibility held by a savings bank, or
					 other demonstration of untrustworthiness by the savings bank, its holding
					 company, or any controlling person, affiliates, affiliated persons, or any of
					 the officers or directors which would affect the savings bank; or
(2) the violation of any antitrust law of
					 this state by the savings bank, the holding company, or any
					 affiliate.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 6 - CHANGE OF CONTROL › Section 75.164 - Abeyance of Other Applications

Current through Reg. 49, No. 28; July 12, 2024
When an application for approval of acquisition of
						control of a savings bank has been received by the Commissioner and the savings
						bank also has other applications on file with the Commissioner, such
						applications may, at the Commissioner's discretion, be held in abeyance until
						the change of control application has been disposed of.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 6 - CHANGE OF CONTROL › Section 75.165 - Exempt Transactions

Current through Reg. 49, No. 28; July 12, 2024
The following transactions are exempt from the
						application requirements of this division:
(1) control of an insured institution
					 acquired solely as a result of foreclosure on the stock of a savings bank which
					 secures a loan contracted for in good faith, where such loan was made in the
					 ordinary course of business of the lender, provided that the acquisition of
					 control pursuant to such foreclosure is reported to the Commissioner within 30
					 days and provided further that the acquiror may not retain such control for
					 more than one year from the date on which such control was acquired. The
					 Commissioner may, upon application by the acquiror, extend such one-year period
					 from year to year for an additional period of time, not to exceed three years,
					 if the Commissioner finds such extension is warranted and would not be
					 detrimental to the public interest. Nothing in this subsection prevents such
					 acquiror from filing an application pursuant to this chapter for permanent
					 approval of the acquisition of control;
(2) control of an insured institution
					 acquired through a percentage increase in stock ownership following a pro-rata
					 stock dividend or stock split, if the proportional interest of the recipients
					 remains substantially the same; and
(3) acquisition of additional stock of a
					 savings bank by any person who has held power to vote 25% or more of any class
					 of voting stock in such savings bank continuously for the three-year period
					 preceding such acquisition, or has maintained control of the savings bank
					 continuously since acquiring control in compliance with the provisions of law
					 or regulation then in effect provided that such acquisition is consistent with
					 any conditions imposed in connection with such acquisition of control and with
					 the representations made by the acquiror in its application.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 7 - CAPITAL NOTES AND DEBNETURES › Section 75.171 - Capital Notes and Debentures

Current through Reg. 49, No. 28; July 12, 2024
(a) Approval
					 Required. No savings bank may issue and sell its capital notes or debentures
					 without the prior written approval of the Commissioner. The Commissioner, in
					 approving the issuance and sale, may impose any conditions the Commissioner
					 determines necessary with regard to safety and soundness and maintenance of
					 adequate financial condition particularly in areas of preservation of capital,
					 quality of earnings, and adequacy of reserves.
(b) Requirements. A savings bank may, by
					 resolution of its board and with prior approval of the Commissioner, issue
					 capital notes, debentures, bonds, or other secured or unsecured capital
					 obligations, which may be convertible in whole or in part to shares of
					 permanent reserve fund stock, or may be issued with warrants attached, to
					 purchase at a future date, shares of permanent reserve fund stock of the
					 issuing savings bank, provided:
(1) the
					 savings bank provides adequate proof to the satisfaction of the Commissioner
					 that the holders of such obligations will receive properly amortized payments
					 of both principal and interest at regularly stated intervals, or that proper
					 provision is made for sinking fund allocations to retire all principal of and
					 interest on such obligations; and
(2) sufficient evidence is furnished to the
					 Commissioner as to the need and utilization of such funds by the savings bank
					 in a profitable manner.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 8 - HOLDING COMPANY APPLICATIONS › Section 75.181 - Registration

Current through Reg. 49, No. 28; July 12, 2024
A holding company must apply and register with the
						Commissioner within the time prescribed by Finance Code §
											97.002. The
						application must include information on the financial condition, ownership,
						operations, management, and intercompany relations of the holding company and
						its subsidiaries, and on related matters the Commissioner finds necessary and
						appropriate. On written request, the Commissioner may, in his or her sole
						discretion, extend the time within which a holding company is required to
						register and file the required information.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 8 - HOLDING COMPANY APPLICATIONS › Section 75.182 - Reorganization as a Mutual Holding Company

Current through Reg. 49, No. 28; July 12, 2024
(a) A savings bank
					 may reorganize as a mutual holding company by complying with the provisions of
					 Finance Code §§
											97.051
					 -
					 97.053.
					 The savings bank must provide to the Commissioner an application to reorganize
					 in a form specified by the Commissioner. The applicant must provide one signed
					 original and at least one copy of the application together with complete
					 exhibits. The application must include:
(1)
					 the proposed certificate of formation for the proposed subsidiary savings bank
					 which must comply with the requirements of Finance Code §
												92.051
					 and §
												92.052
					 or §92.053, as applicable;
(2)
					 the proposed bylaws for the proposed subsidiary;
(3) the proposed restated certificate of
					 formation and bylaws of the mutual holding company;
(4) the complete plan of reorganization;
					 and
(5) a certification by the
					 president or secretary as to how that the reorganization, including the
					 amendments to the certificate of formation and bylaws of the mutual holding
					 company have been approved by a majority of the members or shareholders of the
					 reorganizing savings bank in accordance with Finance Code Chapter 97,
					 Subchapter B;
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 9 - SUBSIDIARY APPLICATIONS › Section 75.191 - Subsidiary Application

Current through Reg. 49, No. 28; July 12, 2024
(a) In order to
					 obtain approval for a subsidiary, the savings bank must file with the
					 Commissioner an application accompanied by the following information:
(1) an audited financial statement in the
					 event of acquisition of an existing company;
(2) a certified board resolution of the board
					 of the applying savings bank approving the investment in the proposed
					 subsidiary;
(3) a certified copy of
					 the certificate of formation and bylaws of the proposed subsidiary;
(4) the acquisition terms, cost, or
					 investment requirements of the savings bank;
(5) projected operating statements of the
					 proposed subsidiary for the first 3 years of operation;
(6) an attorney's opinion letter as to
					 direct, indirect, and/or contingent liability of the savings bank and the
					 proposed subsidiary;
(7) an outline
					 of plans for operation of the proposed subsidiary;
(8) evidence that the proposed subsidiary
					 will have adequate management and operating personnel with proper supervision
					 by savings bank management;
(9)
					 plans for the safeguarding of assets of the proposed subsidiary;
(10) affidavits from all directors of a
					 savings bank and the proposed subsidiary fully disclosing any interest they may
					 directly or indirectly have in the proposed subsidiary; and
(11) such other information or data as the
					 Commissioner may require.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter C - OPERATIONS › Division 1 - OFFICE LOCATIONS › Section 75.202 - Types of Additional Offices

Current through Reg. 49, No. 28; July 12, 2024
The following types of additional offices may be
						established and maintained by a savings bank:
(1) branch offices at which the savings bank
					 may transact any business that could be done in the home office;
(2) mobile facilities at which the savings
					 bank may transact any business of the institution which could be done in the
					 home office (a detailed record of the transactions at such facility must be
					 maintained); and
(3)
					 courier/messenger service to transport items relevant to the bank's
					 transactions with its customers, including courier services between financial
					 institutions.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter C - OPERATIONS › Division 1 - OFFICE LOCATIONS › Section 75.203 - Temporary Closing of Additional Offices

Current through Reg. 49, No. 28; July 12, 2024
In the event a savings bank closes any additional office
						of any type on a temporary basis, such office must be reopened within 12 months
						or less, unless otherwise extended by written authorization of the
						Commissioner. In the event such office is not reopened within the allotted
						12-month period, or the longer period established by the Commissioner, if
						applicable, the Commissioner's approval to establish such office for purposes
						of § 75.201 of this title (relating to Approval of Offices Required;
						Closing an Office; Activities Not Requiring an Approved Office) is deemed
						revoked. Written notice of any temporary closing must be furnished to the
						Commissioner no later than 10 days after such closing, and the office may not
						reopen until the Commissioner receives written notification at least 10 days
						before such reopening.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter C - OPERATIONS › Division 1 - OFFICE LOCATIONS › Section 75.204 - Operation of a Mobile Facility

Current through Reg. 49, No. 28; July 12, 2024
Mobile facilities must be operated consistent with the
						following requirements:
(1) Such
					 facility may be operated only at locations approved by the Commissioner, each
					 of which must at all times be appropriately identified at the site and on the
					 facility, and located within 100 miles of the savings bank's home office or a
					 branch office.
(2) The savings bank
					 must maintain adequate safeguards for the security of the mobile facility. The
					 Commissioner may require additional safeguards, if in the Commissioner's sole
					 discretion, existing safeguards are inadequate, with written notice to the
					 savings bank.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter C - OPERATIONS › Division 2 - BOOKS, RECORDS, ACCOUNTING PRACTICES, FINANCIAL STATEMENTS, AND RESOURCES › Section 75.221 - Books and Records

Current through Reg. 49, No. 28; July 12, 2024
A savings bank must create and maintain books and records
						of its operations, including complete minutes of the meetings of its members
						and the board, and actions taken by written consent in lieu of such meetings.
						Records must be maintained in compliance with the applicable requirements of
						the appropriate federal banking agency and established industry best practices
						promoted by the Federal Financial Institution Examination Counsel. Records must
						be accurate, complete, current, legible, readily accessible, and readily
						sortable. A state savings bank may store original records or copies of records
						at a location other than the home office; however, a savings bank must ensure
						that a complete set of its books and records is readily accessible at the home
						office at all times so as to facilitate the examination of the savings bank by
						the Commissioner at the home office. A savings bank may maintain copies of its
						books and records in an electronic, digital, or magnetic format. A true and
						correct copy of an original record stored in an electronic, digital, or
						magnetic format is deemed to be an original record.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter C - OPERATIONS › Division 2 - BOOKS, RECORDS, ACCOUNTING PRACTICES, FINANCIAL STATEMENTS, AND RESOURCES › Section 75.222 - Accounting Practices

Current through Reg. 49, No. 28; July 12, 2024
Every savings bank must use such forms and observe such
						accounting principles and practices as the Commissioner may require from time
						to time.