Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 6 - CREDIT UNION DEPARTMENT › Chapter 91 - CHARTERING, OPERATIONS, MERGERS, LIQUIDATIONS › Subchapter B - ORGANIZATION PROCEDURES › Section 91.209 - Call Reports and Other Information Requests

Current through Reg. 49, No. 28; July 12, 2024
(a) Each credit union shall prepare and
				  submit, in a manner prescribed by the commissioner, a quarterly financial and
				  statistical report. Unless the commissioner orders otherwise, call reports
				  (Form 5300) timely filed with the National Credit Union Administration will
				  comply with the reporting requirements of this subsection. If a credit union
				  fails to file the quarterly report on time, the commissioner may charge the
				  credit union a penalty of $100 for each day or fraction of a day the report is
				  in arrears.
(b) Any credit union
				  that makes, files, or submits a false or misleading financial and statistical
				  report required by subsection (a) of this section, is subject to an enforcement
				  action pursuant to the Finance Code, Chapter 122, Subchapter F.
(c) A credit union shall prepare and forward
				  to the Department any supplemental report or other document that the
				  Commissioner may, from time to time require, and must comply with all
				  instructions relating to completing and submitting the supplemental report or
				  document. For the purposes of this section, the Commissioner's request may be
				  directed to all credit unions or to a group of credit unions affected by the
				  same or similar issue, shall be in writing, and must specifically advise the
				  credit union that the provisions of this section apply to the request. If a
				  credit union fails to file a supplemental report or provide a requested
				  document within the timeframe specified in the instruction, after notice of
				  non-receipt, the commissioner may levy a penalty of $50 for each day or
				  fraction of a day such report or document is in arrears.
(d) If a credit union fails to file any
				  report or provide the requested information within the specified time, the
				  commissioner, or any person designated by the commissioner, may examine the
				  books, accounts, and records of the credit union, prepare the report or gather
				  the information, and charge the credit union a supplemental examination fee as
				  prescribed in §
										RSA 97.113 of
				  this title (relating to Fees and Charges). The credit union shall pay the fee
				  to the department within thirty days of the assessment.
(e) Any penalty levied under this section
				  shall be paid within 30 days of the levy. Penalties received after the due date
				  will be subject to a monthly 10% fee unless waived by the commissioner for good
				  cause shown.
(f) The Department
				  may, in lieu of imposing the penalty authorized by subsection (a) of this
				  section, order a credit union to pay an amount, fixed by the Commissioner, that
				  is minimally sufficient to cause the NCUA to reduce or negate its own penalty
				  assessment against the credit union under Section 202 of the Federal Credit
				  Union Act (
				  RSA
				  1782 ) for late or false/misleading filing of
				  a quarterly call report (Form 5300). The Department shall abate the penalty, in
				  part if the National Credit Union Administration exercises its authority to
				  impose a civil money penalty for the same late or false/misleading filing. The
				  penalty, assessed by the Department, however, shall not be decreased below the
				  amount authorized to be assessed under subsection (a) of this
				  section.