§ 2251. Quarters and facilities for the Farm Credit Administration


§ 2255. Conditions of other banks and lending institutions


§ 2256. Consent to the availability of reports and to examinations


§ 2257. Reports on conditions of institutions receiving loans or deposits


§ 2257a. Uniform financial reporting instructions


§ 225b. Appearances before and reports to the Congress


§ 2260. Transferred


§ 2265. Suspension or removal of director or officer charged with felony


§ 2265a. Removal and prohibition authority; industry-wide prohibition


§ 2267. Jurisdiction and enforcement


§ 2267a. Jurisdiction over institution-affiliated parties


§ 2269. Further penalties


§ 2270. Replacement of suspended or removed directors


§ 2271. Definitions


§ 2272. Notice of service


§ 2273. Ancillary provisions; subpena power; etc.


§ 2275a. Transition rules relating to amendment of certain FCA approval authorities


§ 2276. Access to and examination by Comptroller General of books, documents, etc., of farm credit system banks and institutions


§ 2277a. Definitions


§ 2279a. Power to merge


§ 2279c. Equalization of loan-making powers of certain district associations


§ 2279cc. Conservatorship; liquidation; receivership


§ 2279f. Merger of similar banks


§ 2279g. Transactions to accomplish mergers exempt from certain State taxes


§ 228. “Banking Act of 1935”


§ 2282. Definitions


§ 2284. Board of Directors


§ 2285a. Acquisition of obligations involving loan guarantees for New York City


§ 2287. Initial capital


§ 2288. Bank obligations


§ 2290. Exemptions


§ 2291. Preparation of obligations


§ 2292. Annual report to the President and Congress


§ 2293. Budget and audit provisions of Government corporation control law applicable


§ 2294. Payments on behalf of public bodies


§ 2294a. Contracts for periodic payments to offset costs of purchase of obligations of local public housing agencies


§ 2295. Authority or responsibility under other provisions of law not to be affected or impaired


§ 2296. Increase not authorized in amounts of obligations issued, sold, or guaranteed by Federal agencies


§ 23. Acknowledgment and filing of certificate


§ 2401. Establishment of Commission


§ 2402. Membership of Commission


§ 2405. Executive Director and additional staff personnel; appointment and compensation; experts and consultants; employment and compensation; audits by Comptroller General


§ 2406. Compensation of members of Commission


§ 2407. Cooperation and assistance of other Federal departments, agencies, and instrumentalities


§ 2408. Authorization of appropriations


§ 245. Vacancies during recess of Senate


§ 246. Powers of Secretary of the Treasury as affected by chapter


§ 247b. Appearances before Congress


§ 248b. Annual independent audits of Federal reserve banks and Board


§ 248c. Master account and services database


§ 2502. Definitions


§ 252. Credit availability assessment


§ 253. Open data publication by the Board of Governors


§ 261. Creation; membership; compensation; meetings; officers; procedure; quorum; vacancies


§ 262. Powers


§ 266. State-chartered banks and other institutions as depositaries of public money; fiscal agents; duties


§ 2702. Mortgages eligible for assistance


§ 2703. Manner of assistance and repayment


§ 2704. Insurance for emergency mortgage loans and advances


§ 2707. Authority of Secretary


§ 2708. Expiration date


§ 2711. Nonapplicability of other laws


§ 2807. Report


§ 2808. Effective date


§ 2810. Disclosure by Secretary; commencement, scope, etc.


§ 285. Nonvoting stock


§ 286. Transfers of stock; rules and regulations


§ 288. Cancellation of stock held by member bank on insolvency or discontinuance of banking operations for sixty days; repayment of cash-paid subscriptions


§ 2904. Report to Congress


§ 2907. Operation of branch facilities by minorities and women


§ 2908. Small bank regulatory relief


§ 3014. Capitalization


§ 3016. Annual meetings; notice, agenda, etc.


§ 3017. Bonds, debentures, notes and other evidences of indebtedness


§ 3017a. Class A notes as paid-in capital of the Bank


§ 3018. Loans


§ 3021. Annual report to Congress; contents


§ 3022. Authorization of additional appropriations; restrictions on use


§ 3023. Appeal procedures applicable upon denial or restriction of application for assistance


§ 3024. Conflict of interest rules; adoption and publication; requirements


§ 3025. Examination and audit


§ 3026. Acceleration of the Final Government Equity Redemption Date


§ 303. Qualifications and disabilities


§ 304. Class A and class B directors; selection


§ 3041. Establishment; appointment, etc., of Director


§ 3042. Authorization of appropriations for advances; deposits into separate Account in Bank; availability of amounts


§ 3043. Advances


§ 3044. Services and information for organization, financing, and management of cooperatives; availability; agreements for development and dissemination; funding


§ 3045. Investigations and surveys respecting new services, etc., by cooperative not-for-profit organizations


§ 3046. Financial analysis and market surveys at request of eligible cooperative


§ 3047. Programs for training directors and staff of eligible cooperatives, and public education; development and availability; scope and implementation


§ 3048. Cooperation with Federal agencies offering programs for consumer cooperatives in disseminating information


§ 3049. Authorization of appropriations for administration; availability of amounts


§ 3050. Fees for providing technical assistance services; waiver; accounting and availability


§ 3051. Nonprofit corporation


§ 306. Assistants to Federal reserve agent


§ 31. Rights and liabilities as affected by change of name


§ 3104. Insurance of deposits


§ 3108. Regulation and enforcement


§ 3109. Cooperation with foreign supervisors


§ 3110. Penalties


§ 3111. Criminal penalty


§ 32. Liabilities and suits as affected by change of name or location


§ 3203. Dual service of management official of $2,500,000,000 institution or holding company as management official of unaffiliated $1,500,000,000 institution or holding company prohibited


§ 3204. Exceptions


§ 3205. Management official in position prior to November 10, 1978


§ 3208. Powers available to Attorney General for enforcement


§ 322. Determination on application


§ 323. Stock in Federal reserve banks; method of payment


§ 326. Acceptance of examinations and reports by State authorities; special examinations


§ 328. Withdrawals from membership


§ 329. Capital stock required as condition precedent to membership


§ 330. Laws applicable on becoming members; discounts for State banks


§ 3303. Financial Institutions Examination Council


§ 3304. Costs and expenses of Council


§ 3306. State liaison


§ 3307. Administration


§ 3308. Access to books, accounts, records, etc., by Council


§ 3309. Risk management training


§ 331. Certifying checks on State banks admitted as members


§ 3310. Establishment of Appraisal Subcommittee


§ 3311. Required review of regulations


§ 332. Depositaries of public money; financial agents; security required


§ 333. Mutual savings banks; application and admission to membership in Federal Reserve System


§ 3333. Chairperson of Appraisal Subcommittee; term of Chairperson; meetings


§ 3334. Officers and staff


§ 3335. Powers of Appraisal Subcommittee


§ 3337. Startup funding


§ 3338. Roster of State certified or licensed appraisers; authority to collect and transmit fees


§ 3340. Time for proposal and adoption of standards


§ 3341. Functions of Federal financial institutions regulatory agencies relating to appraiser qualifications


§ 3342. Transactions requiring services of State certified appraiser


§ 3343. Transactions requiring services of State licensed appraiser


§ 3344. Time for proposal and adoption of rules


§ 3346. Establishment of State appraiser certifying and licensing agencies


§ 3349. Violations in obtaining and performing appraisals in federally related transactions


§ 3352. Emergency exceptions for disaster areas


§ 3354. Automated valuation models used to estimate collateral value for mortgage lending purposes


§ 3355. Broker price opinions


§ 3356. Exemption from appraisals of real estate located in rural areas


§ 336. Certificates of stock; representation of stock of other corporations


§ 338. Examination of affiliates; forfeiture of membership on refusal of affiliate to give information or pay expense


§ 338a. Investments to promote public welfare and community development; limitation on investments


§ 339a. Resolution of clearing banks


§ 3423. Immunity from suit for disclosure of financial exploitation of senior citizens


§ 345. Rediscount of notes, drafts, and bills for member banks; limitation of amount


§ 346. Discount of acceptances


§ 347c. Advances to individuals, partnerships, and corporations; security; interest rate


§ 348. Discount of obligations given for agricultural purposes or based upon livestock; collateral security for Federal reserve notes


§ 349. Rediscount for intermediate credit banks of obligations given for agricultural purposes; discount of notes made pursuant to section 1031


§ 350. Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations


§ 352. Limitation on amount of obligations of certain maturities which may be discounted and rediscounted


§ 356. Purchase of commercial paper from member banks and sale of same


§ 359. Purchase and sale of acceptances of intermediate credit banks and agricultural credit corporations


§ 361. Bills receivable, bills of exchange, acceptances; regulations by Board of Governors


§ 3702. Definitions


§ 3715. Computation of time


§ 3716. Separability


§ 373. Acceptance of drafts or bills drawn by banks in foreign countries or dependencies of United States for purpose of dollar exchange


§ 374. Acting as agent for nonmember bank in getting discounts from reserve bank


§ 374a. Acting as agent for nonbanking borrower in making loans on securities to dealers in stocks, bonds, etc.; penalties


§ 3753. Applicability


§ 3754. Designation of foreclosure commissioner


§ 3755. Prerequisites to foreclosure


§ 3756. Commencement of foreclosure


§ 3757. Notice of default and foreclosure sale


§ 3759. Presale reinstatement


§ 3760. Conduct of sale; adjournment


§ 3761. Foreclosure costs


§ 3762. Disposition of sale proceeds


§ 3763. Transfer of title and possession


§ 3764. Record of foreclosure and sale


§ 3765. Effect of sale


§ 3766. Computation of time


§ 3767. Severability


§ 3768. Deficiency judgment


§ 3805. Applicability of consumer protection provisions


§ 3904. Reserves


§ 3904a. Additional reserve requirements


§ 3905. Accounting for fees on international loans


§ 3906. Collection and disclosure of international lending data


§ 3908. Foreign loan evaluations


§ 3910. Audit authority of Government Accountability Office


§ 3911. Equal representation for Federal Deposit Insurance Corporation and the Office of Thrift Supervision


§ 391a. Reimbursement of Federal Reserve Banks


§ 393. Federal reserve banks as depositaries for Farm Credit System


§ 394. Federal reserve banks as depositaries for and fiscal agents of Home Owners’ Loan Corporation


§ 395. Federal reserve banks as depositaries, custodians and fiscal agents for Commodity Credit Corporation


§ 4105. Federal cost limits and limitations on plans of action


§ 4115. Timetable for approval of plan of action


§ 4117. Delegated responsibility to State agencies


§ 4118. Consultations with other interested parties


§ 4120. Notice to tenants


§ 4121. Definitions of qualified and priority purchaser and related party rule


§ 4123. Severability


§ 4125. State preservation project assistance


§ 413. Distinctive letter and serial number of notes; cancellation of notes unfit for circulation; accounting; apportionment of credit among Federal Reserve banks


§ 4141. Authority


§ 4142. Purposes


§ 4143. Grants for building resident capacity and funding predevelopment costs


§ 4144. Grants for other purposes


§ 4145. Delivery of assistance through intermediaries


§ 4146. Definitions


§ 4147. Funding


§ 415. Reduction of liability for outstanding notes by depositing notes and collateral and payment of notes of series prior to 1928; reissue of deposited notes


§ 416. Withdrawal of collateral deposited to protect notes and substitution of other collateral; retirement of notes; payment of notes of series prior to 1928; recovery of collateral; reissue of deposited notes


§ 417. Custody and safe-keeping of notes issued to and collateral deposited with Reserve agent


§ 419. Delivery of notes prior to delivery to banks


§ 420. Control and direction of plates and dies; expense of issue and retirement of notes paid by banks


§ 4201. Filing of confidential declarations by private persons


§ 4202. Contents of declarations


§ 4203. Confidentiality of declarations


§ 4204. Ineligibility to file valid declarations


§ 4206. Rights of declarants; notifications; Government accountability


§ 4207. Unreviewed declarations; petition to pursue action as private contractor


§ 4208. Nonreviewability of action by Attorney General


§ 421. Examination of plates and dies


§ 4213. Promulgation of regulations


§ 4221. Filing of confidential declarations by private persons identifying specific assets


§ 4222. Contents of declarations


§ 4223. Confidentiality of declarations


§ 4224. Ineligibility to file valid declarations


§ 4225. Rights of declarants; participation in actions, awards


§ 4226. Rights of declarants; notifications; Government accountability


§ 4227. Unreviewed declarations; petition to pursue action as private contractor


§ 4228. Nonreviewability of action by Attorney General


§ 4229. Protection for declarants


§ 4230. Promulgation of regulations


§ 4241. Authority to enter into contracts for private counsel


§ 4242. Contract decisions nonreviewable


§ 4243. Representation


§ 4244. Contract provisions


§ 4245. Counterclaims


§ 4247. Promulgation of regulations


§ 4304. Disclosure requirements for certain accounts


§ 4306. Payment of interest


§ 4307. Periodic statements


§ 4311. Credit unions


§ 4401. Findings and purpose


§ 4402. Definitions


§ 4403. Bilateral netting


§ 4405. Preemption


§ 4406. Relationship to other payments systems


§ 4406a. Treatment of contracts with uninsured national banks, uninsured Federal branches and agencies, certain uninsured State member banks, and Edge Act corporations


§ 4407. National emergencies


§ 4514. Authority to require reports by regulated entities


§ 4514a. Study and reports on guarantee fees


§ 4515. Personnel


§ 4518a. Limitation on bonuses to executives of Fannie Mae and Freddie Mac


§ 4519. Authority to provide for review of regulated entities


§ 4520. Minority and women inclusion; diversity requirements


§ 4522. Public disclosure of final orders and agreements


§ 4523. Limitation on subsequent employment


§ 4524. Audits by GAO


§ 4527. Data standards


§ 4528. Open data publication


§ 4541. Prior approval authority for products


§ 4543. Public access to mortgage information


§ 4544. Annual housing report


§ 4546. Prohibition of public disclosure of proprietary information


§ 4547. Enterprise guarantee fees


§ 4548. Regulations for use of credit scores


§ 4562. Single-family housing goals


§ 4565. Duty to serve underserved markets and other requirements


§ 4566. Monitoring and enforcing compliance with housing goals


§ 4568. Housing Trust Fund


§ 4569. Capital Magnet Fund


§ 4581. Cease and desist proceedings


§ 4582. Hearings


§ 4583. Judicial review


§ 4584. Enforcement and jurisdiction


§ 4586. Public disclosure of final orders and agreements


§ 4587. Notice of service


§ 4601. Review of underwriting guidelines


§ 4602. Studies of effects of privatization of FNMA and FHLMC


§ 4603. Transition


§ 4612. Minimum capital levels


§ 4613. Critical capital levels


§ 4615. Supervisory actions applicable to undercapitalized regulated entities


§ 4616. Supervisory actions applicable to significantly undercapitalized regulated entities


§ 4618. Notice of classification and enforcement action


§ 4622. Capital restoration plans


§ 4624. Reviews of enterprise assets and liabilities


§ 463. Limitation on amount of balance with any depository institution without access to Federal Reserve advances


§ 4636. Civil money penalties


§ 4636a. Removal and prohibition authority


§ 4636b. Criminal penalty


§ 4637. Notice after separation from service


§ 4638. Private rights of action


§ 4639. Public disclosure of final orders and agreements


§ 4640. Notice of service


§ 4642. Reporting of fraudulent loans


§ 465. Basis for ascertaining deposits against which required balance is determined


§ 466. Reserves of banks in dependencies or insular possessions


§ 4701. Findings and purposes


§ 4703a. Capital investments for neighborhoods disproportionately impacted by the COVID–19 pandemic


§ 4704. Applications for assistance


§ 4705. Community partnerships


§ 4706. Selection of institutions


§ 4707. Assistance provided by Fund


§ 4708. Training


§ 4709. Encouragement of private entities


§ 4710. Collection and compilation of information


§ 4711. Investment of receipts and proceeds


§ 4712. Capitalization assistance to enhance liquidity


§ 4713a. Guarantees for bonds and notes issued for community or economic development purposes


§ 4714. Recordkeeping


§ 4715. Special provisions with respect to institutions that are supervised by Federal banking agencies


§ 4716. Studies and reports; examination and audit


§ 4718. Authorization of appropriations


§ 4719. Grants to establish loan-loss reserve funds


§ 4741. Findings and purposes


§ 4742. Definitions


§ 4743. Approving States for participation


§ 4744. Participation agreements


§ 4745. Terms of participation agreements


§ 4746. Reports


§ 4747. Reimbursement by Fund


§ 4748. Reimbursement to Fund


§ 4749. Regulations


§ 4750. Authorization of appropriations


§ 4801. Incorporated definitions


§ 4802. Administrative consideration of burden with new regulations


§ 4803. Streamlining of regulatory requirements


§ 4804. Elimination of duplicative filings


§ 4805. Call report simplification


§ 4805a. Call report simplification


§ 4807. Time limit on agency consideration of completed applications


§ 4808. Revising regulatory requirements for transfers of all types of assets with recourse


§ 4809. “Plain language” requirement for Federal banking agency rules


§ 485. Examination of Federal reserve banks


§ 486. Waiver of requirements as to reports from or examinations of affiliates


§ 4903. Disclosure requirements


§ 4904. Notification upon cancellation or termination


§ 4906. Fees for disclosures


§ 4a. Delegation of authority by Comptroller


§ 4b. Deputy Comptroller for the supervision and examination of Federal savings associations


§ 5006. Expedited recredit for consumers


§ 5007. Expedited recredit procedures for banks


§ 5008. Delays in an emergency


§ 5010. Statute of limitations and notice of claim


§ 5011. Consumer awareness


§ 5013. Variation by agreement


§ 5014. Regulations


§ 5015. Study and report on funds availability


§ 5016. Statistical reporting of costs and revenues for transporting checks between reserve banks


§ 5017. Evaluation and report by the Comptroller General


§ 5018. Depositary services efficiency and cost reduction


§ 505. Civil money penalty


§ 5106. System of registration administration by Federal agencies


§ 5108. Backup authority to establish a nationwide mortgage licensing and registry system


§ 5109. Fees


§ 5110. Background checks of loan originators


§ 5111. Confidentiality of information


§ 5112. Liability provisions


§ 5113. Enforcement by the Bureau


§ 5114. State examination authority


§ 5115. Reports and recommendations to Congress


§ 5116. Study and reports on defaults and foreclosures


§ 5117. Employment transition of loan originators


§ 51b. Dividends, voting, and retirement of preferred stock; individual liability


§ 51c. “Common stock”, “capital”, and “capital stock” defined


§ 5212. Insurance of troubled assets


§ 5215. Reports


§ 5216. Rights; management; sale of troubled assets; revenues and sale proceeds


§ 5217. Contracting procedures


§ 5218. Conflicts of interest


§ 5219b. Public availability of information of Making Home Affordable Program


§ 5220a. Application of GSE conforming loan limit to mortgages assisted with TARP funds


§ 5220b. Multifamily mortgage resolution program


§ 5222. Coordination with foreign authorities and central banks


§ 5223. Minimization of long-term costs and maximization of benefits for taxpayers


§ 5224. Market transparency


§ 5225. Graduated authorization to purchase


§ 5226. Oversight and audits


§ 5227. Study and report on margin authority


§ 5228. Funding


§ 5230. Termination of authority


§ 5231. Special Inspector General for the Troubled Asset Relief Program


§ 5231a. Public-Private Investment Program; additional appropriations for the Special Inspector General for the Troubled Asset Relief Program


§ 5232. Credit reform


§ 5233. Congressional Oversight Panel


§ 5234. Cooperation with the FBI


§ 5235. Disclosures on exercise of loan authority


§ 5236. Exchange Stabilization Fund reimbursement


§ 5237. Authority to suspend mark-to-market accounting


§ 5238. Study on mark-to-market accounting


§ 5239. Recoupment


§ 5240. Preservation of authority


§ 5241. Temporary increase in deposit and share insurance coverage


§ 5251. Information for congressional support agencies


§ 5252. Reports by the Office of Management and Budget and the Congressional Budget Office


§ 5253. Emergency treatment


§ 5261. Gain or loss from sale or exchange of certain preferred stock


§ 5324. Registration of nonbank financial companies supervised by the Board of Governors


§ 5326. Reports


§ 5327. Treatment of certain companies that cease to be bank holding companies


§ 5328. Council funding


§ 5329. Resolution of supervisory jurisdictional disputes among member agencies


§ 5330. Additional standards applicable to activities or practices for financial stability purposes


§ 5331. Mitigation of risks to financial stability


§ 5332. GAO audit of Council


§ 5333. Study of the effects of size and complexity of financial institutions on capital market efficiency and economic growth


§ 5334. Data standards


§ 5335. Open data publication


§ 5341. Definitions


§ 5342. Office of Financial Research established


§ 5343. Purpose and duties of the Office


§ 5344. Organizational structure; responsibilities of primary programmatic units


§ 5345. Funding


§ 5346. Transition oversight


§ 5361. Reports by and examinations of nonbank financial companies by the Board of Governors


§ 5362. Enforcement


§ 5363. Acquisitions


§ 5364. Prohibition against management interlocks between certain financial companies


§ 5366. Early remediation requirements


§ 5367. Affiliations


§ 5368. Regulations


§ 5369. Avoiding duplication


§ 5370. Safe harbor


§ 5371. Leverage and risk-based capital requirements


§ 5372. Rule of construction


§ 5373. International policy coordination


§ 5374. Rule of construction


§ 5382. Judicial review


§ 5385. Orderly liquidation of covered brokers and dealers


§ 5386. Mandatory terms and conditions for all orderly liquidation actions


§ 5387. Directors not liable for acquiescing in appointment of receiver


§ 5388. Dismissal and exclusion of other actions


§ 5389. Rulemaking; non-conflicting law


§ 5391. Inspector General reviews


§ 5392. Prohibition of circumvention and prevention of conflicts of interest


§ 5401. Purposes


§ 5402. Definition


§ 5411. Transfer date


§ 5415. References in Federal law to Federal banking agencies


§ 5416. Contracting and leasing authority


§ 5431. Interim use of funds, personnel, and property of the Office of Thrift Supervision


§ 5432. Transfer of employees


§ 5433. Property transferred


§ 5434. Funds transferred


§ 5435. Disposition of affairs


§ 5436. Continuation of services


§ 5437. Implementation plan and reports


§ 5451. Branching


§ 5452. Office of Minority and Women Inclusion


§ 5461. Findings and purposes


§ 5463. Designation of systemic importance


§ 5464. Standards for systemically important financial market utilities and payment, clearing, or settlement activities


§ 5465. Operations of designated financial market utilities


§ 5466. Examination of and enforcement actions against designated financial market utilities


§ 5467. Examination of and enforcement actions against financial institutions subject to standards for designated activities


§ 5468. Requests for information, reports, or records


§ 5469. Rulemaking


§ 5470. Other authority


§ 5471. Consultation


§ 5472. Common framework for designated clearing entity risk management


§ 5496. Appearances before and reports to Congress


§ 5496b. GAO study of financial regulations


§ 5498. Data standards


§ 5499. Open data publication


§ 5533. Consumer rights to access information


§ 5535. Private Education Loan Ombudsman


§ 5537. Senior investor protections


§ 5551. Relation to State law


§ 5561. Definitions


§ 5566. Referrals for criminal proceedings


§ 5584. Transfer of certain personnel


§ 5585. Incidental transfers


§ 5586. Interim authority of the Secretary


§ 5587. Transition oversight


§ 5601. Remittance transfers


§ 5602. Reverse mortgage study and regulations


§ 5603. Review, report, and program with respect to exchange facilitators


§ 5611. Liquidity event determination


§ 5612. Emergency financial stabilization


§ 5613. Additional related matters


§ 5614. Exercise of Federal Reserve authority


§ 5621. Purpose


§ 5622. Definitions


§ 5623. Expanded access to mainstream financial institutions


§ 5624. Low-cost alternatives to small dollar loans


§ 5625. Procedural provisions


§ 5626. Authorization of appropriations


§ 5627. Regulations


§ 5628. Evaluation and reports to Congress


§ 5641. Enhanced compensation structure reporting


§ 57. Increase of capital by provision in articles of association


§ 5701. Definitions


§ 5702. Federal funds allocated to States


§ 5703. Approving States for participation


§ 5704. Approving State capital access programs


§ 5705. Approving collateral support and other innovative credit access and guarantee initiatives for small businesses and manufacturers


§ 5706. Reports


§ 5707. Remedies for State program termination or failures


§ 5708. Implementation and administration


§ 5709. Regulations


§ 5710. Oversight and audits


§ 5801. Findings and purpose


§ 5802. Definitions


§ 5803. LIBOR contracts


§ 5804. Continuity of contract and safe harbor


§ 5805. Benchmark for loans


§ 5806. Preemption


§ 5807. Rulemaking


§ 582. Receipt of United States or bank notes as collateral


§ 602. Reports and examinations


§ 604a. Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions


§ 613. Signing of articles of association; forwarding to and filing by Board of Governors of the Federal Reserve System; organization certificate; contents


§ 618. Capital stock; amount; when paid in


§ 620. Members of Board of Governors of the Federal Reserve System without interest in corporation


§ 621. Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited


§ 622. Forfeiture of rights and privileges; dissolution; liability of directors and officers


§ 623. Voluntary liquidation


§ 624. Appointment of receiver or conservator


§ 625. Stockholders’ meetings; books and records; reports; examination


§ 626. Dividends; surplus fund


§ 628. Extension of corporate existence


§ 629. Conversion of banking corporations into Federal corporations; procedure


§ 633. Potential liability on foreign accounts


§ 635d. Issuance of debentures, bonds, etc.; obligations redeemable; payment of interest; obligations purchasable by Secretary of the Treasury; public-debt transactions


§ 635e. Aggregate loan, guarantee, and insurance authority


§ 635f. Termination date of Bank’s functions; exceptions; liquidation


§ 635g. Report to Congress; time for submission; contents


§ 635h. Exemption from prohibition of section 955 of title 18


§ 635j. Export financing program to foster foreign trade and commercial interest of the United States


§ 635k. Apportionment of losses incurred on loans, guarantees, and insurance; reimbursement; contingent obligations


§ 635l. Authorization for appropriation of funds for losses


§ 635m. Loans, guarantees, and insurance subject to the provisions of this chapter


§ 635n. Prohibition of loans, guarantees, and insurance as to sales of defense articles or services


§ 635o. Congressional statement of purpose


§ 635p. Presidential mandate to negotiate; objectives


§ 635q. Establishment of tied aid credit program in United States Export-Import Bank


§ 635r. Establishment of tied aid credit program administered by Trade and Development Agency


§ 635s. Implementation


§ 635t. Definitions


§ 67. Individual liability of shareholders; compromises; authority of receiver


§ 7. Chief of examining division


§ 76. President of bank as member of board; chairman of board


Tex. Finance Code Sec. 1.001. PURPOSE OF CODE.


Tex. Finance Code Sec. 1.002. CONSTRUCTION OF CODE. Chapter 311, Government Code (Code Construction Act), applies to the construction of each provision in this code except as otherwise expressly provided by this code.


Tex. Finance Code Sec. 1.003. REFERENCE IN LAW TO STATUTE REVISED BY CODE. A reference in a law to a statute or a part of a statute revised by this code is considered to be a reference to the part of this code that revises that statute or part of that statute.


Tex. Finance Code Sec. 1.004. PREEMPTION.


Tex. Finance Code Sec. 11.001. DEFINITIONS.


Tex. Finance Code Sec. 11.002. PURPOSE OF COMMISSION; STRATEGIC PLAN.


Tex. Finance Code Sec. 11.101. APPOINTMENT; TERMS; OATH.


Tex. Finance Code Sec. 11.102. QUALIFICATIONS OF MEMBERS.


Tex. Finance Code Sec. 11.1021. CONFLICT OF INTEREST.


Tex. Finance Code Sec. 11.103. REMOVAL OF MEMBERS.


Tex. Finance Code Sec. 11.104. EXPENSES AND COMPENSATION OF MEMBERS. A member of the finance commission is entitled to:


Tex. Finance Code Sec. 11.105. MATTER IN WHICH MEMBER HAS PERSONAL INTEREST. A member of the finance commission may not act or participate in the portion of a commission meeting during which the matter considered specifically relates to an entity:


Tex. Finance Code Sec. 11.106. MEETINGS.


Tex. Finance Code Sec. 11.107. PRESIDING OFFICER.


Tex. Finance Code Sec. 11.108. SUNSET PROVISION. The finance commission is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the commission is abolished September 1, 2031.


Tex. Finance Code Sec. 11.109. STANDARDS OF CONDUCT. The presiding officer of the finance commission or the presiding officer's designee shall provide to members of the finance commission, as often as necessary, information regarding the requirements for office under this title, including information regarding a person's responsibilities under applicable laws relating to standards of conduct for state officers.


Tex. Finance Code Sec. 11.110. TRAINING.


Tex. Finance Code Sec. 11.111. SEPARATION OF FUNCTIONS. The finance commission shall develop and implement policies that clearly separate the policymaking responsibilities of the finance commission and the management responsibilities of the banking commissioner, savings and mortgage lending commissioner, and consumer credit commissioner and staff of the finance agencies.


Tex. Finance Code Sec. 11.112. PUBLIC TESTIMONY. The finance commission shall develop and implement policies that provide the public with a reasonable opportunity to appear before the finance commission and to speak on any issue under the jurisdiction of the finance agencies.


Tex. Finance Code Sec. 11.113. ADVISORY COMMITTEES.


Tex. Finance Code Sec. 11.202. HEARINGS OFFICER AND AUDITOR.


Tex. Finance Code Sec. 11.203. LIMITATION ON DIRECTION OF AUDITOR. The internal auditor reports to the finance commission and is not subject to direction by the employing finance agency.


Tex. Finance Code Sec. 11.204. SHARING OF STAFF, EQUIPMENT, AND FACILITIES; ALLOCATION OF COSTS.


Tex. Finance Code Sec. 11.301. BANKING RULES. The finance commission may adopt banking rules as provided by Section 31.003.


Tex. Finance Code Sec. 11.302. SAVINGS ASSOCIATION AND SAVINGS BANK RULES.


Tex. Finance Code Sec. 11.303. DISCLOSURE OF CERTAIN INFORMATION TO FINANCE COMMISSION PROHIBITED. Information regarding the financial condition of a state savings association or savings bank obtained through examination or otherwise may not be disclosed to a member of the finance commission, except that the savings and mortgage lending commissioner may disclose to the finance commission a file or record pertinent to a hearing or matter pending before the commission.


Tex. Finance Code Sec. 11.304. CONSUMER CREDIT RULES. The finance commission may adopt rules necessary to supervise the consumer credit commissioner and ensure compliance with Chapter 14 and Title 4.


Tex. Finance Code Sec. 11.305. RESEARCH.


Tex. Finance Code Sec. 11.3055. FINANCIAL SERVICES STUDY.


Tex. Finance Code Sec. 11.306. RESIDENTIAL MORTGAGE LOAN ORIGINATION RULES. The finance commission may adopt residential mortgage loan origination rules as provided by Chapter 156.


Tex. Finance Code Sec. 11.307. RULES RELATING TO CONSUMER COMPLAINTS.


Tex. Finance Code Sec. 11.308. INTERPRETATION OF HOME EQUITY LENDING LAW. The finance commission may, on request of an interested person or on its own motion, issue interpretations of Sections 50(a)(5)-(7), (e)-(p), (t), and (u), Article XVI, Texas Constitution. An interpretation under this section is subject to Chapter 2001, Government Code, and is applicable to all lenders authorized to make extensions of credit under Section 50(a)(6), Article XVI, Texas Constitution, except lenders regulated by the Credit Union Commission. The finance commission and the Credit Union Commission shall attempt to adopt interpretations that are as consistent as feasible or shall state justification for any inconsistency.


Tex. Finance Code Sec. 11.309. RULES RELATING TO CHECK VERIFICATION ENTITIES.


Tex. Finance Code Sec. 119.001. APPLICABILITY OF CHAPTER 4, BUSINESS & COMMERCE CODE. Chapter 4, Business & Commerce Code, applies to a savings bank with respect to an item paid, collected, settled, negotiated, or otherwise handled by the savings bank for a customer.


Tex. Finance Code Sec. 119.002. APPLICABILITY OF SAVINGS AND LOAN LAWS TO SAVINGS BANKS.


Tex. Finance Code Sec. 119.003. ACKNOWLEDGMENT OR PROOF TAKEN BY MEMBER, STOCKHOLDER, OR EMPLOYEE OF SAVINGS BANK. A public officer who is qualified to take an acknowledgment or proof of a written instrument and who is a member or employee of, or a shareholder in, a savings bank or federal savings bank is not disqualified because of that relationship to the savings bank or federal savings bank from taking an acknowledgment or proof of a written instrument in which a savings bank or federal savings bank is interested.


Tex. Finance Code Sec. 119.004. RENDITION OF CERTAIN PERSONAL PROPERTY FOR AD VALOREM TAXATION.


Tex. Finance Code Sec. 119.005. STATE TAXATION OF SAVINGS BANKS. The state shall tax a domestic or federal savings bank doing business in this state in the same manner and to the same extent as a corresponding savings and loan association.


Tex. Finance Code Sec. 119.006. INITIATION OF RULEMAKING BY SAVINGS BANKS. The finance commission shall initiate rulemaking proceedings under Chapter 2001, Government Code, if at least 20 percent of the savings banks petition the finance commission in writing requesting the adoption, amendment, or repeal of a rule.


Tex. Finance Code Sec. 119.007. EXEMPTION FROM SECURITIES LAWS. A deposit account, certificate, or other evidence of an interest in the deposit liability of a savings bank or federal savings bank is not considered a security under The Securities Act (Title 12, Government Code). A security of these savings banks, other than an interest in the deposit liability of a savings bank, is not subject to the registration requirements of that Act. A person whose principal occupation is being an officer of a savings bank is exempt from the registration and licensing provisions of that Act with respect to that person's participation in a sale or other transaction involving securities of the savings bank of which the person is an officer.


Tex. Finance Code Sec. 119.008. LIABILITY OF COMMISSIONER AND OTHER COMMISSION PERSONNEL; DEFENSE BY ATTORNEY GENERAL.


Tex. Finance Code Sec. 119.101. ACCESS TO BOOKS AND RECORDS OF SAVINGS BANK.


Tex. Finance Code Sec. 119.102. PRODUCTION AND ADMISSIBILITY OF ITEMS OF SAVINGS BANK IN JUDICIAL PROCEEDING.


Tex. Finance Code Sec. 119.201. ADMINISTRATIVE PENALTY FOR FAILING TO COMPLY WITH SUBTITLE.


Tex. Finance Code Sec. 119.202. CRIMINAL SLANDER OR LIBEL.


Tex. Finance Code Sec. 12.001. DEFINITIONS. The definitions provided by Section 31.002 apply to this chapter.


Tex. Finance Code Sec. 12.101. BANKING COMMISSIONER.


Tex. Finance Code Sec. 12.102. DEPUTY BANKING COMMISSIONERS.


Tex. Finance Code Sec. 12.104. OATH OF OFFICE. Before assuming the duties of office, each deputy banking commissioner, examiner, assistant examiner, conservator, supervisor, and special agent, and each other officer or employee specified by the banking commissioner, must take an oath of office to:


Tex. Finance Code Sec. 12.105. FEES, REVENUE, AND EXPENSES; AUDIT.


Tex. Finance Code Sec. 12.106. LIABILITY.


Tex. Finance Code Sec. 12.107. CONFLICT OF INTEREST.


Tex. Finance Code Sec. 12.108. CONSUMER INFORMATION AND COMPLAINTS.


Tex. Finance Code Sec. 12.1085. FINANCIAL LITERACY PROGRAM.


Tex. Finance Code Sec. 12.109. SUNSET PROVISION. The office of banking commissioner is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the office is abolished September 1, 2031.


Tex. Finance Code Sec. 12.111. STANDARDS OF CONDUCT. The banking commissioner or the banking commissioner's designee shall provide to agency employees, as often as necessary, information regarding the requirements for office or employment under this chapter, including information regarding a person's responsibilities under applicable laws relating to standards of conduct for state officers or employees.


Tex. Finance Code Sec. 12.112. EQUAL EMPLOYMENT OPPORTUNITY POLICY.


Tex. Finance Code Sec. 12.113. ALTERNATIVE RULEMAKING AND DISPUTE RESOLUTION.


Tex. Finance Code Sec. 12.114. ADVISORY COMMITTEES.


Tex. Finance Code Sec. 121.001. SHORT TITLE. This subtitle may be cited as the Texas Credit Union Act.


Tex. Finance Code Sec. 121.0011. POLICY. The purposes of this subtitle are to safeguard the public interest, to promote public confidence in credit unions doing business in this state, to provide for the protection of the interests, shares, and deposits of credit unions, to delegate to the department rulemaking and discretionary authority that may be necessary to assure that credit unions operating under this subtitle may be sufficiently flexible and readily responsive to changes in economic conditions and practices, to maintain sound credit union growth and financial integrity, fiscal responsibility, and independent judgment in the management of the business affairs of credit unions, to permit credit unions to effectively provide a full array of financial and financially related services, to provide effective supervision and regulation of credit unions and their fields of membership, and to clarify and modernize the law governing the credit unions doing business in this state. This subtitle is the public policy of this state and necessary to the public welfare.


Tex. Finance Code Sec. 121.002. DEFINITIONS. In this subtitle:


Tex. Finance Code Sec. 121.003. CREDIT UNIONS SUBJECT TO SUBTITLE. A credit union organized and existing under the laws of this state is governed by and authorized to do business under this subtitle.


Tex. Finance Code Sec. 121.004. LIBERAL CONSTRUCTION. This subtitle shall be liberally construed to effect its purposes.


Tex. Finance Code Sec. 121.005. HEARINGS.


Tex. Finance Code Sec. 121.006. PROCEDURE AND RULES APPLICABLE TO CERTAIN PROCEEDINGS.


Tex. Finance Code Sec. 122.001. APPLICATION TO INCORPORATE.


Tex. Finance Code Sec. 122.002. STANDARD ARTICLES OF INCORPORATION AND BYLAWS.


Tex. Finance Code Sec. 122.003. CORPORATE NAME; CRIMINAL PENALTY.


Tex. Finance Code Sec. 122.004. INVESTIGATION BY COMMISSIONER. The commissioner may conduct an investigation and obtain any information or report from any person, including a law enforcement agency, that the commissioner considers necessary.


Tex. Finance Code Sec. 122.005. PROCEDURE FOR CERTAIN APPROVALS.


Tex. Finance Code Sec. 122.006. DECISION ON APPLICATION TO INCORPORATE; ISSUANCE OF CERTIFICATE.


Tex. Finance Code Sec. 122.007. APPEAL TO COMMISSION.


Tex. Finance Code Sec. 122.008. EFFECT OF ISSUANCE OF CERTIFICATE OF INCORPORATION.


Tex. Finance Code Sec. 122.009. REQUIREMENTS FOR COMMENCING BUSINESS.


Tex. Finance Code Sec. 122.010. DEADLINE FOR COMMENCING BUSINESS.


Tex. Finance Code Sec. 122.011. AMENDMENT OF ARTICLES OF INCORPORATION OR BYLAWS.


Tex. Finance Code Sec. 122.012. PLACE OF BUSINESS.


Tex. Finance Code Sec. 122.013. FOREIGN CREDIT UNIONS.


Tex. Finance Code Sec. 122.0131. TEMPORARY FOREIGN CREDIT UNION OFFICE. If a state contiguous to this state experiences an emergency, on a request by that state's credit union regulatory agency, the commissioner may authorize one or more credit unions located in that state to open temporary offices in this state to more promptly restore credit union services to their members. The commissioner shall issue an order permitting the temporary office and specifying the period the office may remain open. On a finding that the conditions requiring the temporary office continue to exist, the commissioner may extend the period the office may remain open. A credit union may convert a temporary office authorized under this section to a permanent location and operate as a foreign credit union if it qualifies to do business in this state as a foreign credit union under Section 122.013 and commission rules.


Tex. Finance Code Sec. 122.014. UNDERSERVED-AREA CREDIT UNION.


Tex. Finance Code Sec. 122.051. MEMBERSHIP.


Tex. Finance Code Sec. 122.052. MEETINGS OF MEMBERS; VOTING.


Tex. Finance Code Sec. 122.053. BOARD OF DIRECTORS; TERMS AND DUTIES.


Tex. Finance Code Sec. 122.054. QUALIFICATION OF DIRECTORS.


Tex. Finance Code Sec. 122.055. VACANCIES; REMOVAL.


Tex. Finance Code Sec. 122.056. HONORARY OR ADVISORY DIRECTORS.


Tex. Finance Code Sec. 122.057. OFFICERS; EXECUTIVE COMMITTEE.


Tex. Finance Code Sec. 122.058. CHIEF EXECUTIVE OFFICER.


Tex. Finance Code Sec. 122.059. DELEGATION OF MANAGEMENT AND LOAN APPROVAL AUTHORITY.


Tex. Finance Code Sec. 122.060. CERTIFICATE OF ELECTION.


Tex. Finance Code Sec. 122.061. CONFLICTS OF INTEREST.


Tex. Finance Code Sec. 122.062. COMPENSATION. A person may not receive compensation for serving as a director, honorary director, advisory director, or committee member of a credit union, except that the person may be:


Tex. Finance Code Sec. 122.063. BOND. The board shall purchase from a surety company authorized to do business in this state a blanket surety or security bond covering each director, honorary director, advisory director, officer, employee, member of an official committee, attorney, or other agent of the credit union as required by commission rule.


Tex. Finance Code Sec. 122.064. INDEMNIFICATION. A credit union may elect to indemnify a director, officer, employee, or agent of the credit union and to purchase insurance as if the credit union were an "enterprise" as defined by Section 8.001, Business Organizations Code, under and subject to the credit union's bylaws and written policy. A credit union may not provide any indemnification or insurance that would not be permissible under Chapter 8, Business Organizations Code, but may elect to impose the credit union's own limitations on indemnification.


Tex. Finance Code Sec. 122.101. CALL REPORTS.


Tex. Finance Code Sec. 122.102. FINANCIAL REPORTING; AUDITS.


Tex. Finance Code Sec. 122.103. EQUITY CAPITAL. A credit union's equity capital consists of:


Tex. Finance Code Sec. 122.104. NET WORTH RESERVE ALLOCATIONS.


Tex. Finance Code Sec. 122.105. MEMBERSHIP SHARE REDUCTION. A credit union may order a reduction in the membership shares of each of its shareholders if:


Tex. Finance Code Sec. 122.106. EXEMPTION FROM CERTAIN TAXES.


Tex. Finance Code Sec. 122.107. NOTICE OF AVAILABILITY OF CERTAIN DOCUMENTS.


Tex. Finance Code Sec. 122.151. AUTHORITY TO MERGE OR CONSOLIDATE.


Tex. Finance Code Sec. 122.152. APPLICATION TO MERGE OR CONSOLIDATE.


Tex. Finance Code Sec. 122.153. DECISION BY COMMISSIONER; APPEAL.


Tex. Finance Code Sec. 122.1531. CONSIDERATIONS IN DETERMINATION. In determining whether to approve or disapprove the merger or consolidation, the commissioner shall consider the availability and adequacy of financial services in the local community and the effect that the merger or consolidation would have on the local community. The commission by rule shall establish other appropriate criteria that the commissioner must consider in making the determination.


Tex. Finance Code Sec. 122.154. PROPERTY, OBLIGATIONS, AND LIABILITIES OF MERGED OR CONSOLIDATED CREDIT UNION. After a merger or consolidation is effected:


Tex. Finance Code Sec. 122.155. CONSTRUCTION OF SUBCHAPTER. This subchapter shall be construed, when possible, to permit a credit union authorized to do business in this state under other law to merge or consolidate with a credit union authorized to do business under this subtitle.


Tex. Finance Code Sec. 122.156. RULES TO ADDRESS CERTAIN PROCEDURES. The rules adopted under this subchapter must specify in detail the procedures that:


Tex. Finance Code Sec. 122.201. CONVERSION OF STATE CREDIT UNION TO FEDERAL CREDIT UNION.


Tex. Finance Code Sec. 122.202. CONVERSION OF STATE CREDIT UNION TO OUT-OF-STATE CREDIT UNION. A credit union organized under the laws of this state may convert to a credit union under the laws of another state:


Tex. Finance Code Sec. 122.203. CONVERSION OF FEDERAL OR OUT-OF-STATE CREDIT UNION TO STATE CREDIT UNION. A credit union organized under the laws of the United States or of another state may convert to a credit union organized under the laws of this state by complying with:


Tex. Finance Code Sec. 122.251. DEFAMATION.


Tex. Finance Code Sec. 122.252. CONSIDERATION FOR LOAN, INVESTMENT, OR PURCHASE.


Tex. Finance Code Sec. 122.253. LOAN TO NONMEMBER.


Tex. Finance Code Sec. 122.254. FALSE STATEMENTS OR DOCUMENTS; DESTRUCTION OF RECORDS.


Tex. Finance Code Sec. 122.255. DETERMINATION OF MISCONDUCT. The commissioner may determine that an officer, director, honorary director, advisory director, or employee of a credit union, or the credit union itself, acting by and through an officer, director, honorary director, advisory director, or employee, has:


Tex. Finance Code Sec. 122.256. DETERMINATION LETTER; BOARD MEETING.


Tex. Finance Code Sec. 122.257. CEASE AND DESIST ORDER FOR CREDIT UNIONS.


Tex. Finance Code Sec. 122.2575. CEASE AND DESIST ORDER FOR OTHER PERSONS.


Tex. Finance Code Sec. 122.258. REMOVAL ORDER.


Tex. Finance Code Sec. 122.259. HEARING ON APPEAL OF PROPOSED ORDER.


Tex. Finance Code Sec. 122.260. ADMINISTRATIVE PENALTY; INJUNCTION.


Tex. Finance Code Sec. 122.261. CONFIDENTIALITY.


Tex. Finance Code Sec. 123.001. GENERAL POWERS. A credit union may exercise any power necessary or appropriate to accomplish the purposes for which it is organized and any power granted a corporation authorized to do business in this state, including any power specified in this chapter.


Tex. Finance Code Sec. 123.002. INCIDENTAL POWERS. A credit union may exercise any right, privilege, or incidental power necessary or appropriate to exercise its specific powers and to accomplish the purposes for which it is organized.


Tex. Finance Code Sec. 123.003. ENLARGEMENT OF POWERS.


Tex. Finance Code Sec. 123.101. CONTRACTS. A credit union may make contracts.


Tex. Finance Code Sec. 123.102. POWER TO SUE AND DEFEND. A credit union may sue or be sued in the name of the credit union.


Tex. Finance Code Sec. 123.103. PURCHASE AND SALE OF PROPERTY. Subject to commission rules, a credit union may purchase, hold, lease, or dispose of property necessary or incidental to the operation or purpose of the credit union.


Tex. Finance Code Sec. 123.104. MEMBERSHIP IN OTHER ORGANIZATION; OPERATION AS CENTRAL CREDIT UNION. A credit union may:


Tex. Finance Code Sec. 123.105. FEES.


Tex. Finance Code Sec. 123.106. CHANGE OF LOCATION.


Tex. Finance Code Sec. 123.107. INSURANCE FOR MEMBERS. A credit union may purchase or otherwise provide insurance for the benefit or convenience of its members in accordance with applicable law or rules adopted by the commission.


Tex. Finance Code Sec. 123.108. DONATIONS. A credit union may donate to a nonprofit, civic, charitable, or community organization as authorized by the board.


Tex. Finance Code Sec. 123.109. SEAL. A credit union may adopt and use a common seal and may alter its seal at any time.


Tex. Finance Code Sec. 123.110. RECORDS.


Tex. Finance Code Sec. 123.111. RIGHT TO ACT TO MITIGATE OR AVOID LOSS. This subtitle does not prohibit a credit union from investing its money, operating a business, managing or dealing in property, or taking any other action at any time that is reasonably necessary to avoid or mitigate a loss on a loan or on an investment made or obligation created in good faith and in the usual course of the credit union's business, as authorized by this subtitle or a rule adopted by the commission.


Tex. Finance Code Sec. 123.201. POWER TO BORROW OR LEND.


Tex. Finance Code Sec. 123.202. RECEIPT, TRANSFER, AND PAYMENT OF MONEY. A credit union may:


Tex. Finance Code Sec. 123.203. ACCEPTANCE OF MONEY FOR DEPOSIT FROM ANOTHER ENTITY. A credit union may accept money for deposit by a savings and loan association, a savings association, the savings department of a bank, a commercial bank, a savings bank, a trust company, an insurance company, or any intermediary or other person managing or holding money on behalf of the credit union or any of the credit union's members or depositors.


Tex. Finance Code Sec. 123.204. ACTION AS AGENT OR DEPOSITORY OF UNITED STATES OR OTHER GOVERNMENTAL ENTITY. A credit union may act as agent or depository of and accept for deposit the money of:


Tex. Finance Code Sec. 123.205. INVESTMENTS AND SECURITIES.


Tex. Finance Code Sec. 123.206. ACTION AS FISCAL OR TRANSFER AGENT; TRANSFER OF CERTAIN INSTRUMENTS; SIGNATURES. A credit union may:


Tex. Finance Code Sec. 123.207. FIDUCIARY POWERS. A credit union may:


Tex. Finance Code Sec. 123.208. DIVIDENDS AND INTEREST.


Tex. Finance Code Sec. 123.209. TRANSFER SYSTEM. A credit union may establish, operate, or participate in a system that allows the transfer of credit union money or the shares or deposits of its members by electronic or other means, including a clearinghouse association, a data processing or other electronic network, the Federal Reserve System, or any other government payment or liquidity program.


Tex. Finance Code Sec. 123.210. SALE OF CERTAIN INSTRUMENTS OR SECURITIES; FEE. A credit union may:


Tex. Finance Code Sec. 123.211. CERTIFICATES OF INDEBTEDNESS. The commission by rule may authorize a credit union to issue certificates of indebtedness that are subordinated to all other claims of credit union creditors.


Tex. Finance Code Sec. 123.212. CHECK AND MONEY TRANSFER SERVICES. A credit union may sell to a person within its field of membership negotiable checks, money orders, and other similar money transfer instruments or services and may also cash checks and money orders for a person within its field of membership for a fee.


Tex. Finance Code Sec. 124.001. AUTHORIZATION. A credit union may make a loan to a member:


Tex. Finance Code Sec. 124.002. LIMITATIONS ON INTEREST RATES. The interest rate on a loan to a member may not exceed:


Tex. Finance Code Sec. 124.003. LIMITATIONS ON LOANS. A credit union may not make a loan to a member or a business interest of the member if the loan would cause the aggregate amount of loans to the member and the member's business interests to exceed:


Tex. Finance Code Sec. 124.004. WRITTEN INSTRUMENT REQUIRED. A credit union loan must be evidenced by a written instrument.


Tex. Finance Code Sec. 124.005. APPLICABILITY OF OTHER LAW. Subtitle B, Title 4, does not apply to a credit union loan or extension of credit unless the agreement that evidences the transaction specifically provides otherwise.


Tex. Finance Code Sec. 124.051. OPEN-END CREDIT PLAN. A credit union may enter into a written agreement with a member under which:


Tex. Finance Code Sec. 124.052. LINE OF CREDIT. A credit union may approve in advance a line of credit and grant advances to a member within the limit of the extension of credit.


Tex. Finance Code Sec. 124.053. ADDITIONAL LOAN APPLICATION NOT REQUIRED. An additional loan application is not required under an open-end credit plan under Section 124.051 or line of credit under Section 124.052 if the aggregate obligation does not exceed a limit of the extension of credit the credit union establishes.


Tex. Finance Code Sec. 124.101. BORROWER PAYMENT OF LOAN EXPENSES. A credit union may require a member to pay all reasonable expenses and fees incurred in connection with making, closing, disbursing, extending, readjusting, or renewing a loan, whether or not those expenses or fees are paid to third parties.


Tex. Finance Code Sec. 124.102. COLLECTION OF LOAN EXPENSES. A payment authorized by Section 124.101 may be:


Tex. Finance Code Sec. 124.103. CHARACTER OF EXPENSE OR FEE. An expense or fee authorized by Section 124.101 is not interest.


Tex. Finance Code Sec. 124.151. PREPAYMENT PRIVILEGE. A loan may be prepaid in whole or in part, without penalty, during regular working hours on any day on which the credit union is open for business, except as provided by Section 124.152.


Tex. Finance Code Sec. 124.152. CONDITIONS FOR PREPAYMENT OF LOAN SECURED BY REAL PROPERTY. A credit union may require a partial prepayment that is made on a loan secured by a lien or mortgage on or other type of security interest in real property to be made:


Tex. Finance Code Sec. 124.153. PENALTY FOR LATE PAYMENT.


Tex. Finance Code Sec. 124.201. AUTHORIZATION. Only if done in accordance with limitations imposed by Section 124.202, a credit union may make a loan or extend a line of credit to:


Tex. Finance Code Sec. 124.202. CONDITIONS OF LOANS. A loan or extension of a line of credit under Section 124.201:


Tex. Finance Code Sec. 124.203. AUTHORIZATION TO ACT AS COMAKER, GUARANTOR, OR ENDORSER. A credit union may permit a director, senior management employee, or member of the credit committee to act as comaker, guarantor, or endorser of a loan to a member only in accordance with limitations imposed by Section 124.204.


Tex. Finance Code Sec. 124.204. PRIOR APPROVAL REQUIRED. The board must give its approval before the credit union permits a director, senior management employee, or member of the credit committee to act as comaker, guarantor, or endorser of a loan to a member if the amount of the loan or aggregate of outstanding loans to the comaker, guarantor, or endorser is greater than the sum of:


Tex. Finance Code Sec. 124.251. ILLEGALITY OF LOAN NOT A DEFENSE. The illegality of a loan is not a defense in a credit union's action to recover on the loan.


Tex. Finance Code Sec. 124.252. ILLEGALITY OF LOAN NOT A BAR TO ENFORCEMENT OR COLLECTION. The illegality of a loan does not prevent enforcement of the loan agreement against or collection of the loan from a person who is otherwise liable on the loan, including:


Tex. Finance Code Sec. 124.301. PARTICIPATION LOANS. A credit union may market and sell participations in loans to members originated by the credit union to another credit union, corporation, or financial organization.


Tex. Finance Code Sec. 124.302. GOVERNMENT LOAN PROGRAMS. A credit union may participate in:


Tex. Finance Code Sec. 124.351. PERMITTED INVESTMENTS.


Tex. Finance Code Sec. 124.352. LIMITATIONS ON INVESTMENTS.


Tex. Finance Code Sec. 125.001. DEFINITION. In this chapter, "multiple-party account" has the meaning assigned by Section 113.004, Estates Code, except that the term includes an account in which one or more of the parties is an organization, association, corporation, or partnership.


Tex. Finance Code Sec. 125.002. SHARE ACCOUNT.


Tex. Finance Code Sec. 125.003. DEPOSIT ACCOUNTS. A deposit account consists of payments made under an agreement between the credit union and a depositor, including a draft account, checking account, savings account, certificate of deposit, individual development account, or other similar account or arrangement.


Tex. Finance Code Sec. 125.004. CONSTRUCTION WITH OTHER LAWS. This chapter may not be construed to conflict with the laws of the United States or the laws of this state governing the taxation of multiple-party accounts.


Tex. Finance Code Sec. 125.101. FORM OF ACCOUNT.


Tex. Finance Code Sec. 125.102. POWERS OF ACCOUNT HOLDERS.


Tex. Finance Code Sec. 125.103. POWERS OF MEMBERS RELATING TO ACCOUNT. Subject to a policy adopted by the board, a member of a credit union by written notice to the credit union may:


Tex. Finance Code Sec. 125.104. OWNERSHIP INTEREST.


Tex. Finance Code Sec. 125.105. DISCHARGE OF LIABILITY ON PAYMENT. Payment of all or part of a multiple-party account to a party to the account discharges the credit union's liability to each party to the extent of the payment.


Tex. Finance Code Sec. 125.106. DIVISION OF ACCOUNT ON DEATH.


Tex. Finance Code Sec. 125.107. SETOFF OF ACCOUNT. Without qualifying another statutory right to a setoff or lien and subject to a contractual provision accepted by the credit union, a credit union has the right of setoff against the entire amount of a multiple-party account in which a party to the account is indebted to the credit union.


Tex. Finance Code Sec. 125.201. POWERS OF CREDIT UNION RELATING TO ACCOUNT. A credit union may:


Tex. Finance Code Sec. 125.202. VOTING; OFFICE-HOLDING.


Tex. Finance Code Sec. 125.203. DISCHARGE OF LIABILITY ON PAYMENT; EFFECT ON MINOR OF REQUIRED ACTION.


Tex. Finance Code Sec. 125.301. FORM OF ACCOUNT.


Tex. Finance Code Sec. 125.302. LOANS TO NONMEMBER TRUSTEE. Subject to limitations imposed by this subtitle or a rule adopted under this subtitle, a credit union may make a fully secured loan to a nonmember trustee to enable the trustee to perform or assist the trustee in performing the trustee's fiduciary responsibilities.


Tex. Finance Code Sec. 125.303. BENEFICIARY FEES. A beneficiary who is not a member of a credit union is not required to pay a membership entrance fee.


Tex. Finance Code Sec. 125.304. LIMITATIONS PLACED ON BENEFICIARY. A beneficiary who is not a member of a credit union may not vote in matters pertaining to, obtain a loan through, or hold office in the credit union.


Tex. Finance Code Sec. 125.305. ACCOUNT TRANSACTION INQUIRIES. The credit union is not required to inquire of a trustee the reason for a transaction or the intended use for money withdrawn or borrowed.


Tex. Finance Code Sec. 125.306. DISCHARGE OF LIABILITY ON PAYMENT. Payment of all or part of the shares and deposits to a trustee or other person authorized to request present payment on a trust account discharges the liability of the credit union to each settlor, trustee, and beneficiary to the extent of the payment.


Tex. Finance Code Sec. 125.307. TERMINATION OF ACCOUNT. When a trust is terminated, the credit union shall pay money remaining in a trust account as:


Tex. Finance Code Sec. 125.308. EFFECT OF DEATH OF TRUSTEE ON ACCOUNT.


Tex. Finance Code Sec. 125.309. TRUST ACCOUNT WITH LIMITED DOCUMENTATION.


Tex. Finance Code Sec. 125.401. THIRD-PARTY CLAIM.


Tex. Finance Code Sec. 125.402. DISCLOSURE OF RECORDS OF MEMBER; CONFIDENTIALITY.


Tex. Finance Code Sec. 125.403. RECOVERY OF DOCUMENT PRODUCTION EXPENSES FROM THIRD PARTY.


Tex. Finance Code Sec. 125.404. LIENS AND SETOFFS.


Tex. Finance Code Sec. 125.405. ACCOUNT WITHDRAWALS.


Tex. Finance Code Sec. 125.501. RENTAL OF SAFE DEPOSIT BOX. A credit union or federal credit union may maintain and rent safe deposit boxes.


Tex. Finance Code Sec. 125.502. RELATIONSHIP BETWEEN CREDIT UNION AND BOX HOLDER.


Tex. Finance Code Sec. 125.503. ACCESS BY MORE THAN ONE PERSON.


Tex. Finance Code Sec. 125.504. RELOCATION OF SAFE DEPOSIT BOX; INVENTORY OF CONTENTS.


Tex. Finance Code Sec. 125.505. NOTICE OF BOX RELOCATION.


Tex. Finance Code Sec. 125.506. COST OF NOTICE AS BOX RENTAL. The credit union may treat the cost of certified mailings incurred in connection with each safe deposit box relocation other than the cost of the first notice as box rental due and payable at the expiration of the rental term.


Tex. Finance Code Sec. 125.507. EMERGENCY RELOCATION OF SAFE DEPOSIT BOX.


Tex. Finance Code Sec. 125.508. KEY IMPRINTING.


Tex. Finance Code Sec. 125.509. LIABILITY FOR ACCESS TO OR REMOVAL OF CONTENTS. A credit union that has identified the keys to a safe deposit box in accordance with Section 125.508 and that follows applicable law and the credit union's established security procedures in permitting access to the box is not liable for damages arising because of access to or removal of the box's contents.


Tex. Finance Code Sec. 125.510. DELINQUENT RENTS.


Tex. Finance Code Sec. 125.511. AUCTION OF CONTENTS.


Tex. Finance Code Sec. 126.001. APPOINTMENT OF CONSERVATOR OR LIQUIDATING AGENT. The commissioner may appoint any person, including the share and deposit guaranty corporation or credit union provided for by Section 15.410, as a conservator or a liquidating agent under this chapter.


Tex. Finance Code Sec. 126.002. CONFIDENTIALITY OF INFORMATION.


Tex. Finance Code Sec. 126.003. ENFORCEABILITY OF AGREEMENT MADE BY CREDIT UNION BEFORE CONSERVATORSHIP OR LIQUIDATION. An agreement that tends to diminish or defeat the interest of the conservator or liquidating agent in an asset acquired under this chapter, either as security for a loan or by purchase, is not valid against the conservator or liquidating agent unless the agreement is:


Tex. Finance Code Sec. 126.051. EXAMINATIONS.


Tex. Finance Code Sec. 126.052. ACCESS TO INFORMATION. An officer, director, agent, or employee of a credit union shall give an examiner free access to any information relating to the credit union's business, including access to books, papers, securities, and other records.


Tex. Finance Code Sec. 126.053. WITNESSES; PRODUCTION OF DOCUMENTS.


Tex. Finance Code Sec. 126.054. REPORT OF EXAMINATION.


Tex. Finance Code Sec. 126.055. FEE. The commission may establish and a credit union shall pay a fee based on the cost of performing an examination of the credit union.


Tex. Finance Code Sec. 126.101. CONSERVATORSHIP ORDER; APPOINTMENT OF CONSERVATOR.


Tex. Finance Code Sec. 126.102. SERVICE OF ORDER.


Tex. Finance Code Sec. 126.103. EFFECT OF ORDER. Following service of a conservatorship order:


Tex. Finance Code Sec. 126.105. APPEAL OF ORDER; HEARING.


Tex. Finance Code Sec. 126.106. FAILURE TO APPEAL OR APPEAR. If the board does not appeal the conservatorship order or fails to appear at the hearing provided for by Section 126.105, the credit union is presumed to have consented to the commissioner's disposition action, and the commissioner may dispose of the conservatorship matter as the commissioner considers appropriate.


Tex. Finance Code Sec. 126.107. EXTENSION OF DATE AND TIME FOR HEARING. The parties may agree to extend the date and time of the hearing.


Tex. Finance Code Sec. 126.108. CONFIDENTIALITY; DISCLOSURE. A conservatorship order and a copy of a notice, correspondence, transcript, pleading, or other document relating to the order are confidential and may be disclosed only in a related legal proceeding or as otherwise authorized by law. The commissioner may release to the public information regarding the existence of an order if the commissioner concludes that release of the information would enhance effective enforcement of the order.


Tex. Finance Code Sec. 126.151. CONSERVATOR SUBJECT TO COMMISSION CONTROL. A conservator shall exercise the powers authorized under Sections 126.152-126.154 subject to commission rules and under the commissioner's supervision.


Tex. Finance Code Sec. 126.152. GENERAL POWERS OF CONSERVATOR. The conservator may:


Tex. Finance Code Sec. 126.153. POWERS RELATING TO CLAIMS. The conservator may:


Tex. Finance Code Sec. 126.154. POWER TO REPUDIATE BURDENSOME TRANSACTION. The conservator may repudiate a contract or unexpired lease the conservator considers burdensome to the credit union.


Tex. Finance Code Sec. 126.155. POWER TO PROTECT, PRESERVE, AND RECOVER PROPERTY.


Tex. Finance Code Sec. 126.156. DUTIES OF CONSERVATOR. The conservator shall:


Tex. Finance Code Sec. 126.157. TERM OF CONSERVATOR. The conservator shall serve until the purposes of the conservatorship are accomplished.


Tex. Finance Code Sec. 126.158. TRANSFER OF MANAGEMENT OF REHABILITATED CREDIT UNION. If the credit union is rehabilitated, the conservator shall return the management of the credit union to the board under terms that are reasonable and necessary to prevent a recurrence of the conditions that created the need for conservatorship.


Tex. Finance Code Sec. 126.159. COST OF CONSERVATORSHIP.


Tex. Finance Code Sec. 126.160. JURISDICTION AND VENUE.


Tex. Finance Code Sec. 126.161. EXHAUSTION OF ADMINISTRATIVE REMEDIES. Administrative remedies must be exhausted before a court may:


Tex. Finance Code Sec. 126.201. LIQUIDATION ORDER; APPOINTMENT OF LIQUIDATING AGENT.


Tex. Finance Code Sec. 126.202. SERVICE OF ORDER. The commissioner shall serve a liquidation order in the same manner provided for service of a conservatorship order.


Tex. Finance Code Sec. 126.203. SUIT FOR INJUNCTION.


Tex. Finance Code Sec. 126.204. ACTION PENDING INJUNCTION HEARING.


Tex. Finance Code Sec. 126.205. HEARING ON INJUNCTION; APPEAL.


Tex. Finance Code Sec. 126.206. NATIONAL CREDIT UNION ADMINISTRATION AS LIQUIDATING AGENT.


Tex. Finance Code Sec. 126.251. PERMISSIBLE ACTIVITIES IN LIQUIDATION.


Tex. Finance Code Sec. 126.252. COMPENSATION OF CREDIT UNION EMPLOYEES AND OFFICERS.


Tex. Finance Code Sec. 126.253. LIQUIDATING AGENT SUBJECT TO COMMISSION CONTROL. The liquidating agent shall perform the duties required by the following sections subject to commission rules and under the commissioner's supervision:


Tex. Finance Code Sec. 126.254. POSSESSION, CONSOLIDATION, AND DISPOSITION OF ASSETS. The liquidating agent shall:


Tex. Finance Code Sec. 126.255. COMPOUND DEBTS. The liquidating agent shall compound all bad or doubtful debts.


Tex. Finance Code Sec. 126.256. COURT ACTION BY LIQUIDATING AGENT. The liquidating agent shall:


Tex. Finance Code Sec. 126.257. REPUDIATION OF BURDENSOME TRANSACTIONS. The liquidating agent shall repudiate a contract or unexpired lease the liquidating agent considers burdensome to the credit union.


Tex. Finance Code Sec. 126.258. EXECUTION OF DOCUMENTS; OTHER NECESSARY ACTS. The liquidating agent may execute any document and perform any other action that:


Tex. Finance Code Sec. 126.259. JURISDICTION AND VENUE.


Tex. Finance Code Sec. 126.260. EXHAUSTION OF ADMINISTRATIVE REMEDIES. Except as provided by Subchapter E, administrative remedies must be exhausted before a court may:


Tex. Finance Code Sec. 126.301. CLAIMS AGAINST CREDIT UNION. The liquidating agent shall:


Tex. Finance Code Sec. 126.302. NOTICE TO CREDITORS AND MEMBERS.


Tex. Finance Code Sec. 126.303. PRIORITY OF CLAIMS. The liquidating agent shall use the credit union's assets to pay, in the following order:


Tex. Finance Code Sec. 126.304. LIQUIDATION DIVIDENDS.


Tex. Finance Code Sec. 126.305. PAYMENT OF CLAIMS IN "NO PUBLICATION" LIQUIDATION.


Tex. Finance Code Sec. 126.306. BARRED CLAIMS.


Tex. Finance Code Sec. 126.351. REMOVAL OF LIQUIDATING AGENT.


Tex. Finance Code Sec. 126.352. REPLACEMENT OF LIQUIDATING AGENT. The commissioner shall appoint another liquidating agent on a liquidating agent's resignation, death, illness, removal, desertion, or incapacity to function.


Tex. Finance Code Sec. 126.353. CONFLICT OF INTEREST.


Tex. Finance Code Sec. 126.354. COMPENSATION.


Tex. Finance Code Sec. 126.401. CERTIFICATE OF LIQUIDATION AND DISTRIBUTION. The commissioner shall prescribe the form of a certificate to be completed by the liquidating agent attesting that distribution has been made and liquidation is complete.


Tex. Finance Code Sec. 126.402. CANCELLATION OF CERTIFICATE OF INCORPORATION. The commissioner, on receipt and approval of the certificate executed under Section 126.401, shall cancel the credit union's certificate of incorporation.


Tex. Finance Code Sec. 126.403. WINDING UP OF CREDIT UNION BUSINESS. During the three-year period following cancellation of the credit union's certificate of incorporation, the credit union continues to exist and the liquidating agent, or a successor or other person designated by the commissioner, may act on the credit union's behalf to:


Tex. Finance Code Sec. 126.451. BOARD RESOLUTION. Unless the commissioner has issued a liquidation order, the board may adopt a resolution recommending voluntary dissolution of the credit union and directing submission of the question of liquidation to the members of the credit union.


Tex. Finance Code Sec. 126.452. NOTIFICATION TO COMMISSIONER OF PROPOSED LIQUIDATION. Not later than the fifth day after the date on which the board's resolution recommending voluntary dissolution is adopted, the board's presiding officer shall notify the commissioner in writing of the reasons for the proposed liquidation.


Tex. Finance Code Sec. 126.453. NOTICE OF MEETING TO LIQUIDATE. Notice of the special meeting to consider voluntary liquidation shall be mailed by first-class mail to each member of the credit union and the commissioner not later than the 10th day before the date of the meeting.


Tex. Finance Code Sec. 126.454. CREDIT UNION OPERATIONS BEFORE AND AFTER VOTE. Immediately after notice under Section 126.453 is mailed, the commissioner may restrict control or give direction with respect to the continued business of the credit union pending consideration of voluntary liquidation by the members. During that period, no member shall withdraw an aggregate amount in excess of the share insurance covered by the credit union. No new extensions of credit shall be funded during the period between the board of directors' adoption of the resolution recommending voluntary liquidation and the membership meeting called to consider voluntary liquidation, except for the issuance of loans fully secured by a pledge of shares and the funding of outstanding loan commitments approved before adoption of the resolution. If the vote to dissolve and liquidate the credit union is affirmative, the credit union may conduct only business incidental to liquidation.


Tex. Finance Code Sec. 126.455. VOTE ON VOLUNTARY LIQUIDATION. At a special meeting called to consider the proposed liquidation, a majority of the credit union members voting, but not less than a quorum, may vote to dissolve and liquidate the credit union. Those members casting votes by mail or at the meeting constitute a quorum for the transaction of business at the special meeting, notwithstanding a bylaw provision to the contrary.


Tex. Finance Code Sec. 126.456. NOTICE TO COMMISSIONER OF AFFIRMATIVE VOTE TO LIQUIDATE.


Tex. Finance Code Sec. 126.457. APPOINTMENT OF LIQUIDATING AGENT.


Tex. Finance Code Sec. 126.458. APPLICATION OF LAW TO CREDIT UNION IN VOLUNTARY LIQUIDATION. A credit union in the process of voluntary dissolution and liquidation remains subject to this subtitle and Chapter 15, including provisions for examination by the commissioner, and the credit union shall furnish reports as required by the commissioner.


Tex. Finance Code Sec. 13.001. DEFINITIONS. The definitions provided by Section 31.002 apply to this chapter.


Tex. Finance Code Sec. 13.0015. NAME CHANGES.


Tex. Finance Code Sec. 13.002. SAVINGS AND MORTGAGE LENDING COMMISSIONER.


Tex. Finance Code Sec. 13.003. DEPUTY COMMISSIONERS.


Tex. Finance Code Sec. 13.004. EXAMINERS. The savings and mortgage lending commissioner shall appoint savings association and savings bank examiners.


Tex. Finance Code Sec. 13.006. OATH OF OFFICE. Before assuming the duties of office, each deputy savings and mortgage lending commissioner, examiner, assistant examiner, conservator, supervisor, and special agent and each other officer or employee specified by the savings and mortgage lending commissioner must take an oath of office to discharge faithfully the duties assigned and uphold the constitution and laws of this state and the United States.


Tex. Finance Code Sec. 13.007. GENERAL POWERS AND DUTIES OF COMMISSIONER. The savings and mortgage lending commissioner shall:


Tex. Finance Code Sec. 13.009. CONFLICTS OF LAW. If this chapter conflicts with Subtitle B or C, Title 3, this chapter controls.


Tex. Finance Code Sec. 13.010. CONFLICTS OF INTEREST.


Tex. Finance Code Sec. 13.011. CONSUMER INFORMATION AND COMPLAINTS.


Tex. Finance Code Sec. 13.012. SUNSET PROVISION. The office of savings and mortgage lending commissioner and the Department of Savings and Mortgage Lending are subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the office and department are abolished September 1, 2031.


Tex. Finance Code Sec. 13.013. STANDARDS OF CONDUCT. The savings and mortgage lending commissioner or the savings and mortgage lending commissioner's designee shall provide to agency employees, as often as necessary, information regarding the requirements for office or employment under this chapter, including information regarding a person's responsibilities under applicable laws relating to standards of conduct for state officers or employees.


Tex. Finance Code Sec. 13.014. EQUAL EMPLOYMENT OPPORTUNITY POLICY.


Tex. Finance Code Sec. 13.016. RECOVERY FUND.


Tex. Finance Code Sec. 13.017. ALTERNATIVE RULEMAKING AND DISPUTE RESOLUTION.


Tex. Finance Code Sec. 13.018. ADVISORY COMMITTEES.


Tex. Finance Code Sec. 14.001. DEFINITIONS.


Tex. Finance Code Sec. 14.051. CONSUMER CREDIT COMMISSIONER.


Tex. Finance Code Sec. 14.052. DIVISION OF CONSUMER PROTECTION. The division of consumer protection is a division in the office and is under the direction of the commissioner.


Tex. Finance Code Sec. 14.054. OATH OF OFFICE. Before assuming the duties of office, the commissioner and each assistant commissioner, examiner, and other employee of the office must take an oath of office.


Tex. Finance Code Sec. 14.055. LIABILITY.


Tex. Finance Code Sec. 14.056. CONFLICT OF INTEREST.


Tex. Finance Code Sec. 14.057. PERFORMANCE EVALUATIONS; MERIT PAY.


Tex. Finance Code Sec. 14.058. EQUAL EMPLOYMENT OPPORTUNITY.


Tex. Finance Code Sec. 14.059. INTRA-AGENCY CAREER LADDER.


Tex. Finance Code Sec. 14.061. COST OF AUDIT. The cost of an audit of the office under Chapter 321, Government Code, shall be paid to the state auditor from the funds of the office.


Tex. Finance Code Sec. 14.062. CONSUMER INFORMATION AND COMPLAINTS.


Tex. Finance Code Sec. 14.063. APPLICATION OF OPEN MEETINGS LAW. The office is a governmental body subject to Chapter 551, Government Code.


Tex. Finance Code Sec. 14.064. CONSUMER INFORMATION. The commissioner shall:


Tex. Finance Code Sec. 14.065. OFFICE EMPLOYEES. The commissioner may appoint, remove, and prescribe the duties of assistant commissioners, examiners, and other employees as necessary to maintain and operate the office, including the division of consumer protection.


Tex. Finance Code Sec. 14.066. SUNSET PROVISION. The office is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the office is abolished September 1, 2031.


Tex. Finance Code Sec. 14.101. GENERAL DUTIES OF COMMISSIONER. The commissioner shall enforce this chapter, Subtitles B and C of Title 4, Chapter 393 with respect to a credit access business, and Chapter 394 in person or through an assistant commissioner, examiner, or other employee of the office.


Tex. Finance Code Sec. 14.102. EDUCATIONAL AND DEBT COUNSELING PROGRAMS. The commissioner shall coordinate, encourage, and assist public and private agencies, organizations, groups, and consumer credit institutions in developing and operating voluntary educational and debt counseling programs designed to promote prudent and beneficial use of consumer credit by residents of this state.


Tex. Finance Code Sec. 14.1025. FINANCIAL LITERACY PROGRAM INFORMATION.


Tex. Finance Code Sec. 14.103. CONSUMER PROTECTION PROGRAMS. The commissioner, through the division of consumer protection, shall coordinate, encourage, and assist public and private agencies, organizations, groups, and consumer protection institutions in developing and operating voluntary educational consumer protection programs designed to promote prudent and informed consumer action by residents of this state.


Tex. Finance Code Sec. 14.104. LENDER CONTRACTS. A written contract of an authorized lender subject to regulation by the office must contain the name, mailing address, and telephone number of the office.


Tex. Finance Code Sec. 14.105. GIFTS AND GRANTS.


Tex. Finance Code Sec. 14.106. INFORMATION REGARDING EMPLOYMENT REQUIREMENTS. The commissioner or the commissioner's designee shall provide to agency employees, as often as necessary, information regarding the requirements for employment under this chapter, including information regarding a person's responsibilities under applicable laws relating to standards of conduct for state employees.


Tex. Finance Code Sec. 14.107. FEES.


Tex. Finance Code Sec. 14.108. INTERPRETATIONS OF LAW.


Tex. Finance Code Sec. 14.109. USE OF THE NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY.


Tex. Finance Code Sec. 14.110. ALTERNATIVE RULEMAKING AND DISPUTE RESOLUTION.


Tex. Finance Code Sec. 14.111. ADVISORY COMMITTEES.


Tex. Finance Code Sec. 14.112. LICENSING AND REGISTRATION TERMS.


Tex. Finance Code Sec. 14.113. TEXAS FINANCIAL EDUCATION ENDOWMENT.


Tex. Finance Code Sec. 14.151. OBTAINING INFORMATION.


Tex. Finance Code Sec. 14.152. FINGERPRINT REQUIREMENT; PENALTY. The commissioner may refuse to grant a license or registration to, or may suspend or revoke the license or registration of, an applicant, license holder, or registrant described by Section 411.095(a)(1), Government Code, who fails to provide, on request, a complete set of legible fingerprints on a fingerprint card format approved by the Department of Public Safety and the Federal Bureau of Investigation.


Tex. Finance Code Sec. 14.153. ACTION BY LAW ENFORCEMENT AGENCIES.


Tex. Finance Code Sec. 14.154. CONFIDENTIALITY.


Tex. Finance Code Sec. 14.155. DISCLOSURE.


Tex. Finance Code Sec. 14.156. RECOVERY OF COSTS. In addition to an investigation fee paid to the commissioner by an applicant for a license or registration, the commissioner is entitled to recover from an applicant, license holder, or registrant the cost of processing an inquiry to determine whether the person has a criminal history record.


Tex. Finance Code Sec. 14.157. RULES. The finance commission shall adopt rules governing the custody and use of information obtained under this subchapter.


Tex. Finance Code Sec. 14.201. INVESTIGATION AND ENFORCEMENT AUTHORITY. Investigative and enforcement authority under this subchapter applies only to:


Tex. Finance Code Sec. 14.2015. CONFIDENTIALITY OF CERTAIN INFORMATION.


Tex. Finance Code Sec. 14.2016. INFORMATION SHARING WITH DEPARTMENTS AND AGENCIES. To ensure consistent enforcement of law and minimization of regulatory burdens, the commissioner may share information, including criminal history or confidential information, relating to a license holder, registrant, applicant, or other person investigated or examined under the commissioner's authority with a department, agency, or instrumentality of this state, another state, or the United States if the commissioner considers the disclosure of the information to be necessary or proper to the enforcement of the laws of this state or the United States and in the best interest of the public. Information otherwise confidential remains confidential after the information is shared under this section.


Tex. Finance Code Sec. 14.202. REQUEST FOR INFORMATION; INVESTIGATION AUTHORITY. On receipt of a written complaint or other reasonable cause to believe that a person is violating a statute listed by Section 14.201, the commissioner may:


Tex. Finance Code Sec. 14.203. ISSUANCE OF SUBPOENA OR SUMMONS.


Tex. Finance Code Sec. 14.204. ENFORCEMENT OF SUBPOENA; CONTEMPT.


Tex. Finance Code Sec. 14.205. INVESTIGATION BY HEARING OFFICER.


Tex. Finance Code Sec. 14.206. FEES AND EXPENSES.


Tex. Finance Code Sec. 14.207. IMPOSITION OF COSTS ON PARTIES. The commissioner may impose on a party in interest of record fees, expenses, or costs incurred in connection with a hearing or may divide the fee or expense among any or all interested parties as determined by the commissioner.


Tex. Finance Code Sec. 14.208. INJUNCTION; APPEAL.


Tex. Finance Code Sec. 14.209. APPOINTMENT OF RECEIVER.


Tex. Finance Code Sec. 14.251. ASSESSMENT OF PENALTY; RESTITUTION ORDER.


Tex. Finance Code Sec. 14.252. AMOUNT OF PENALTY.


Tex. Finance Code Sec. 14.253. REPORT ON VIOLATION. If the commissioner determines that a violation occurred, the commissioner may issue a report that states:


Tex. Finance Code Sec. 14.254. NOTICE OF REPORT ON VIOLATION AND PENALTY RECOMMENDATION.


Tex. Finance Code Sec. 14.255. RESPONSE OF PERSON RECEIVING NOTICE. Not later than the 20th day after the date on which a person receives notice under Section 14.254, the person may:


Tex. Finance Code Sec. 14.256. ACCEPTANCE OF PENALTY; DEFAULT. If a person accepts the determination and recommended penalty of the commissioner or fails to make a timely written request for a hearing, the commissioner by order shall approve the determination and impose the recommended penalty.


Tex. Finance Code Sec. 14.257. HEARING ON PENALTY; ORDER.


Tex. Finance Code Sec. 14.258. STAY OF PENALTY; SUIT BY ATTORNEY GENERAL.


Tex. Finance Code Sec. 14.259. RECOVERY OF COSTS. In addition to the administrative penalty or restitution amount, the court may authorize the commissioner to recover from a person who pays an administrative penalty or restitution amount, or both, reasonable expenses incurred in obtaining the ordered amount, including the cost of investigation, witness fees, and deposition expenses.


Tex. Finance Code Sec. 14.260. ADMINISTRATIVE PROCEDURE ACT. A proceeding under this subchapter is subject to Chapter 2001, Government Code.


Tex. Finance Code Sec. 14.261. ACCEPTANCE OF ASSURANCE.


Tex. Finance Code Sec. 14.262. EFFECT OF ASSURANCE.


Tex. Finance Code Sec. 14.263. REOPENING. A matter closed by the filing of an assurance of voluntary compliance may be reopened at any time.


Tex. Finance Code Sec. 14.264. RIGHT TO BRING ACTION NOT AFFECTED.


Tex. Finance Code Sec. 14.301. APPEAL OF FINAL DECISION OF COMMISSIONER. A party in interest aggrieved by a final decision of the commissioner is entitled to judicial review.


Tex. Finance Code Sec. 14.302. APPEAL OF LICENSE WITHHOLDING OR REVOCATION. An appeal of a decision of the commissioner refusing to grant a license to an applicant or revoking the license of a license holder shall be under the substantial evidence rule as provided by Chapter 2001, Government Code.


Tex. Finance Code Sec. 14.303. STAY OF ORDER PENDING APPEAL. On a showing of good cause, the commissioner or the reviewing court may enter an order staying the effect of a final decision of the commissioner pending appeal by a party in interest.


Tex. Finance Code Sec. 149.001. APPLICABILITY OF CHAPTERS 3 AND 4, BUSINESS & COMMERCE CODE.


Tex. Finance Code Sec. 149.002. EXEMPTION FROM SECURITIES LAWS.


Tex. Finance Code Sec. 15.001. DEFINITIONS.


Tex. Finance Code Sec. 15.101. COMPOSITION OF DEPARTMENT. The department is composed of:


Tex. Finance Code Sec. 15.102. REGULATION OF CREDIT UNIONS. The department shall supervise and regulate credit unions as provided by this chapter and Subtitle D, Title 3.


Tex. Finance Code Sec. 15.103. STUDY OF STATUTES. The department periodically shall comprehensively study the statutes of this state as they pertain to credit union operations.


Tex. Finance Code Sec. 15.104. NOTIFICATION AND GUIDANCE ON ADOPTION OF CERTAIN FEDERAL LAWS OR REGULATIONS. The department shall promptly notify and issue guidance to all credit unions chartered in this state on the adoption of a federal law or regulation that:


Tex. Finance Code Sec. 15.201. APPOINTMENT; TERMS.


Tex. Finance Code Sec. 15.202. GENERAL QUALIFICATIONS OF COMMISSION MEMBERS.


Tex. Finance Code Sec. 15.203. QUALIFICATIONS OF INDUSTRY COMMISSION MEMBERS.


Tex. Finance Code Sec. 15.204. QUALIFICATIONS OF PUBLIC COMMISSION MEMBERS.


Tex. Finance Code Sec. 15.2041. TRAINING PROGRAM.


Tex. Finance Code Sec. 15.205. VACANCIES. The office of a commission member becomes vacant:


Tex. Finance Code Sec. 15.206. REMOVAL.


Tex. Finance Code Sec. 15.207. EXPENSES AND COMPENSATION OF COMMISSION MEMBERS.


Tex. Finance Code Sec. 15.208. MATTER IN WHICH COMMISSION MEMBER HAS PERSONAL INTEREST.


Tex. Finance Code Sec. 15.209. MEETINGS.


Tex. Finance Code Sec. 15.210. PRESIDING OFFICER. The governor shall designate a member of the commission as the presiding officer of the commission to serve in that capacity at the pleasure of the governor.


Tex. Finance Code Sec. 15.211. SUIT FOR OFFICIAL ACT OR OMISSION.


Tex. Finance Code Sec. 15.212. SUNSET PROVISION. The Credit Union Department and the Credit Union Commission are subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the department and commission are abolished September 1, 2031.


Tex. Finance Code Sec. 15.301. COMMISSIONER.


Tex. Finance Code Sec. 15.302. QUALIFICATIONS OF COMMISSIONER.


Tex. Finance Code Sec. 15.303. DEPUTY COMMISSIONER.


Tex. Finance Code Sec. 15.304. EXAMINERS.


Tex. Finance Code Sec. 15.305. GENERAL COUNSEL. A person may not act as the general counsel to the commission or the department if the person is required to register as a lobbyist under Chapter 305, Government Code, because of the person's activities for compensation on behalf of a profession related to the operation of the department.


Tex. Finance Code Sec. 15.306. OATH. Before assuming the duties of office, the commissioner, the deputy commissioner, each examiner, and each other officer or employee of the commission must take an oath of office approved by the commission.


Tex. Finance Code Sec. 15.307. OFFICERS OF COMMISSION AND DEPARTMENT. Each officer of the commission and department, except a commission member, is an employee of the commission and is subject to the commission's orders and directions.


Tex. Finance Code Sec. 15.309. INTRA-AGENCY CAREER LADDER.


Tex. Finance Code Sec. 15.310. PERFORMANCE EVALUATION.


Tex. Finance Code Sec. 15.311. QUALIFICATIONS OF EMPLOYEES. A person may not be a department employee employed in a "bona fide executive, administrative, or professional capacity," as that phrase is used for purposes of establishing an exemption to the overtime provisions of the federal Fair Labor Standards Act of 1938 (29 U.S.C. Section 201 et seq.), if:


Tex. Finance Code Sec. 15.312. INFORMATION PROVIDED TO MEMBERS AND EMPLOYEES. The commissioner or the commissioner's designee shall provide to members of the commission and to department employees, as often as necessary, information regarding their qualification for office or employment under this chapter and their responsibilities under applicable laws relating to standards of conduct for state officers or employees.


Tex. Finance Code Sec. 15.313. EQUAL EMPLOYMENT OPPORTUNITY POLICY.


Tex. Finance Code Sec. 15.401. SUPERVISION OF COMMISSIONER. The commission shall supervise, consult with, and advise the commissioner.


Tex. Finance Code Sec. 15.4011. CREDIT UNION DEPARTMENT BUILDING. The commission shall have charge and control of the property known as the Credit Union Department Building and use of staff, equipment, and facilities of the department. The Credit Union Department Building refers to the property located in the city of Austin and titled in the name of the State of Texas for the use and benefit of the Credit Union Department, as described by deed recorded in Volume 6126, Page 27, of the Deed Records of Travis County, Texas.


Tex. Finance Code Sec. 15.402. ADOPTION OF RULES.


Tex. Finance Code Sec. 15.4021. RECEIPT OF PUBLIC COMMENTS; NOTICE OF COMMISSION ACTIVITIES.


Tex. Finance Code Sec. 15.4022. RULES RELATING TO COMPETITIVE BIDDING AND ADVERTISING.


Tex. Finance Code Sec. 15.4023. SEPARATION OF RESPONSIBILITIES. The commission shall develop and implement policies that clearly separate the policy-making responsibilities of the commission and the management responsibilities of the commissioner and the staff of the department.


Tex. Finance Code Sec. 15.4025. NEGOTIATED RULEMAKING AND ALTERNATIVE DISPUTE RESOLUTION POLICY.


Tex. Finance Code Sec. 15.403. SUPERVISION AND REGULATION OF CREDIT UNIONS.


Tex. Finance Code Sec. 15.4031. CREDIT UNION COMMISSIONER HEARING.


Tex. Finance Code Sec. 15.4032. EXAMINATION OF RELATED ENTITIES.


Tex. Finance Code Sec. 15.404. ADMINISTRATION AND ENFORCEMENT OF STATUTES AND RULES. The commissioner shall administer and enforce this chapter and Subtitle D, Title 3, and rules adopted under this chapter and Subtitle D, Title 3.


Tex. Finance Code Sec. 15.4041. ISSUANCE OF INTERPRETIVE STATEMENTS.


Tex. Finance Code Sec. 15.4042. ISSUANCE OF OPINION.


Tex. Finance Code Sec. 15.4043. EFFECT OF INTERPRETIVE STATEMENT OR OPINION. An interpretive statement or opinion issued under this subchapter does not have the force of law and is not a rule for the purposes of Chapter 2001, Government Code, unless adopted by the commission as provided by Chapter 2001, Government Code. An interpretive statement or opinion is an administrative construction of this chapter or Subtitle D, Title 3, may be relied on by credit unions authorized to engage in business in this state, and is entitled to great weight if the construction is reasonable and does not conflict with this chapter or Subtitle D, Title 3.


Tex. Finance Code Sec. 15.4044. FEES. The department may charge a late fee against a credit union for late payment of its operating fees.


Tex. Finance Code Sec. 15.405. LEGISLATIVE RECOMMENDATIONS. The commissioner shall report the department's legislative recommendations to the legislature for consideration.


Tex. Finance Code Sec. 15.406. ATTENDANCE AT COMMISSION MEETINGS; VOTING. The commissioner shall attend meetings of the commission but may not vote at a meeting.


Tex. Finance Code Sec. 15.407. OFFICIAL COMMITTEES. The chairman may appoint individuals who are not commission members to serve on official committees that are charged with evaluating industry methods or problems and presenting formal recommendations to the commission for possible action. The individuals appointed are entitled to reimbursement for reasonable and necessary expenses incidental to travel incurred in connection with the performance of official duties.


Tex. Finance Code Sec. 15.408. CONSUMER COMPLAINTS.


Tex. Finance Code Sec. 15.4081. COMPLAINT TRACKING; ANNUAL STATISTICAL ANALYSIS.


Tex. Finance Code Sec. 15.409. CONSUMER INFORMATION.


Tex. Finance Code Sec. 15.4091. ACCESS TO DEPARTMENT FACILITIES, PROGRAMS, AND SERVICES.


Tex. Finance Code Sec. 15.410. SHARE AND DEPOSITOR INSURANCE PROTECTION.


Tex. Finance Code Sec. 15.4105. ANNUAL REPORT TO MEMBERS.


Tex. Finance Code Sec. 15.411. AGREEMENTS WITH OTHER REGULATORS.


Tex. Finance Code Sec. 15.4111. REGULATORY COORDINATION. To ensure effective coordination among and between the department and other state and federal agencies, the commissioner and those agencies may enter into cooperative, coordinating, or information-sharing agreements that are necessary or proper to enforce the state or federal laws applicable to credit unions.


Tex. Finance Code Sec. 15.412. FILING GROUP RETURN WITH THE INTERNAL REVENUE SERVICE.


Tex. Finance Code Sec. 15.413. INTERPRETATION OF HOME EQUITY LENDING LAW. The commission may, on request of an interested person or on its own motion, issue interpretations of Sections 50(a)(5)-(7), (e)-(p), (t), and (u), Article XVI, Texas Constitution. An interpretation under this section is subject to Chapter 2001, Government Code, and is applicable to lenders regulated by the commission. The Finance Commission of Texas and the commission shall attempt to adopt interpretations that are as consistent as feasible or shall state justification for any inconsistency.


Tex. Finance Code Sec. 15.414. AUTHORITY TO CONTRACT FOR PROFESSIONAL OR PERSONAL SERVICES. For the purpose of carrying out the powers, duties, and responsibilities of the department, the commissioner may negotiate, contract, or enter into an agreement for professional or personal services. The commission by rule shall adopt policies and procedures consistent with applicable state procurement practices for soliciting and awarding contracts under this section.


Tex. Finance Code Sec. 15.415. GIFTS OF MONEY OR PROPERTY. The department may accept money or property by gift, bequest, devise, or otherwise for any department purpose authorized by this chapter and Subtitle D, Title 3. A gift, bequest, or devise shall be used for the purposes specified by the grantor. The commission must approve acceptance and use of any gift, bequest, or devise under this section.


Tex. Finance Code Sec. 15.416. USE OF TECHNOLOGY. The commission shall implement a policy requiring the department to use appropriate technological solutions to improve the department's ability to perform its functions. The policy must ensure that the public is able to interact with the department on the Internet.


Tex. Finance Code Sec. 15.501. RULEMAKING AUTHORITY.


Tex. Finance Code Sec. 15.502. PERIODIC EVALUATION. The commission shall by rule establish a process by which the commission shall periodically evaluate an advisory committee to ensure its continued necessity. The commission may retain or develop committees as appropriate to meet changing needs.


Tex. Finance Code Sec. 15.503. COMPLIANCE WITH OPEN MEETINGS ACT.A commission advisory committee must comply with Chapter 551, Government Code.


Tex. Finance Code Sec. 152.001. SHORT TITLE. This chapter may be cited as the Money Services Modernization Act.


Tex. Finance Code Sec. 152.002. PURPOSE; CONSTRUCTION OF CHAPTER.


Tex. Finance Code Sec. 152.003. DEFINITIONS. In this chapter:


Tex. Finance Code Sec. 152.004. EXEMPTIONS. This chapter does not apply to:


Tex. Finance Code Sec. 152.005. AUTHORITY TO REQUIRE DEMONSTRATION OF EXEMPTION. The commissioner may require a person claiming to be exempt from licensing under Section 152.004 to provide information and documentation to the commissioner demonstrating that the person qualifies for the exemption claimed.


Tex. Finance Code Sec. 152.006. CENTRALIZED DIGITAL CURRENCY PROHIBITED. This chapter does not authorize the creation of any centralized bank digital currency or any other action that prohibits or limits the use of paper currency.


Tex. Finance Code Sec. 152.051. ADMINISTRATION. The department shall administer this chapter.


Tex. Finance Code Sec. 152.052. RULES; FEES.


Tex. Finance Code Sec. 152.053. IMPLEMENTATION. The commissioner may, subject to Sections 152.055(a) and (b):


Tex. Finance Code Sec. 152.054. COMMISSIONER'S GENERAL AUTHORITY.


Tex. Finance Code Sec. 152.055. CONFIDENTIALITY.


Tex. Finance Code Sec. 152.056. INVESTIGATIONS.


Tex. Finance Code Sec. 152.057. SUPERVISION.


Tex. Finance Code Sec. 152.058. NETWORKED SUPERVISION.


Tex. Finance Code Sec. 152.059. RELATIONSHIP TO FEDERAL LAW.


Tex. Finance Code Sec. 152.060. CONSENT TO SERVICE OF PROCESS. A money services licensee, an authorized delegate, or a person who knowingly engages in activities that are regulated and require a license under this chapter, with or without filing an application for a license or holding a license under this chapter, is considered to have consented to the jurisdiction of the courts of this state for all actions arising under this chapter.


Tex. Finance Code Sec. 152.061. PRESUMPTION OF CONTROL.


Tex. Finance Code Sec. 152.101. MONEY TRANSMISSION LICENSE REQUIRED.


Tex. Finance Code Sec. 152.102. CURRENCY EXCHANGE LICENSE REQUIRED.


Tex. Finance Code Sec. 152.103. CONSISTENT STATE LICENSING.


Tex. Finance Code Sec. 152.104. APPLICATION FOR MONEY SERVICES LICENSE.


Tex. Finance Code Sec. 152.105. INFORMATION REQUIREMENTS FOR CERTAIN INDIVIDUALS.


Tex. Finance Code Sec. 152.106. ISSUANCE OF LICENSE.


Tex. Finance Code Sec. 152.107. MAINTENANCE OF LICENSE.


Tex. Finance Code Sec. 152.108. SURRENDER OF LICENSE.


Tex. Finance Code Sec. 152.109. REFUND OF FEE OR COST PAID BY MONEY SERVICES LICENSEE. A fee or cost paid by a money services licensee under this chapter is not refundable.


Tex. Finance Code Sec. 152.151. ACQUISITION OF CONTROL.


Tex. Finance Code Sec. 152.152. STREAMLINED ACQUISITION OF CONTROL.


Tex. Finance Code Sec. 152.153. NOTICE AND INFORMATION REQUIREMENTS FOR CHANGE OF KEY INDIVIDUALS.


Tex. Finance Code Sec. 152.201. MONEY TRANSMISSION REPORT.


Tex. Finance Code Sec. 152.202. CURRENCY EXCHANGE REPORT.


Tex. Finance Code Sec. 152.203. FINANCIAL STATEMENTS.


Tex. Finance Code Sec. 152.204. AUTHORIZED DELEGATE REPORTING.


Tex. Finance Code Sec. 152.205. REPORTS OF CERTAIN EVENTS.


Tex. Finance Code Sec. 152.206. BANK SECRECY ACT REPORTS. A money services licensee and an authorized delegate shall file all reports required by federal currency reporting, record keeping, and suspicious activity reporting requirements as provided by the Bank Secrecy Act and other federal and state laws relating to money laundering. The timely filing of a complete and accurate report required under this section with the appropriate federal agency is considered compliant with the requirements of this section.


Tex. Finance Code Sec. 152.207. RECORDS.