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Texas Laws | Finance Code
FINANCE CODE
TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (3601)

Sec. 59.310. ENFORCEMENT AND RULES. (3602)(Text)

(a) The finance commission and the Credit Union Commission shall enforce this subchapter and adopt rules to implement this subchapter. (3603)

(b) The rules must establish security requirements to be implemented by a financial institution for the operation of an unmanned teller machine. The rules may require the financial institution to install and maintain security devices in addition to those required by this subchapter to be operated in conjunction with the machine for the protection of customers using the machine, including: (3604)

(1) video surveillance equipment that is maintained in working order and operated continuously during the hours of operation of the machine; and (3605)

(2) adequate lighting around the premises that contain the machine. (3606)

(b-1) The rules may provide for a system that enhances customer security, taking into account emerging technologies, the availability of networks to exchange information, and the potential compliance costs for financial institutions and other unmanned teller machine service providers. (3607)

(c) A financial institution that violates a rule adopted under this section is subject to a civil penalty of not less than $50 or more than $1,000 for each day of violation and each act of violation. (3608)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (3609)

Amended by: (3610)

Acts 2007, 80th Leg., R.S., Ch. 692 (H.B. 1795), Sec. 1, eff. June 15, 2007. (3611)

SUBTITLE B. SAVINGS AND LOAN ASSOCIATIONS (3612)(Text)

CHAPTER 61. GENERAL PROVISIONS (3613)(Text)
Sec. 61.001. SHORT TITLE. (3614)(Text)

This subtitle may be cited as the Texas Savings and Loan Act. (3615)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (3616)

Sec. 61.002. DEFINITIONS. (3617)(Text)

In this subtitle: (3618)

(1) "Appropriate banking agency": (3619)

(A) means: (3620)

(i) with respect to a savings bank chartered by this state, the Department of Savings and Mortgage Lending; (3621)

(ii) with respect to a federal savings bank, the Office of the Comptroller of the Currency; (3622)

(iii) with respect to a savings and loan association chartered by this state, the Department of Savings and Mortgage Lending; (3623)

(iv) with respect to a federal savings and loan association, the Office of the Comptroller of the Currency; (3624)

(v) with respect to a bank chartered by this state, the Texas Department of Banking; (3625)

(vi) with respect to a national bank, the Office of the Comptroller of the Currency; and (3626)

(vii) with respect to a bank, savings bank, or savings and loan association chartered by another state, the chartering agency; and (3627)

(B) includes: (3628)

(i) in each case in which a state bank is a member of the Federal Reserve System, the board of governors of the Federal Reserve System; (3629)

(ii) in each case where required by the Federal Deposit Insurance Act (12 U.S.C. Section 1811 et seq.), the Federal Deposit Insurance Corporation; and (3630)

(iii) any successor of a state or federal agency specified by this subdivision. (3631)

(1-a) "Association" means a savings and loan association subject to this subtitle. (3632)

(2) "Board" means the board of directors of an association. (3633)

(3) "Capital stock" means the units into which the proprietary interest in a capital stock association is divided. (3634)

(4) "Capital stock association" means an association authorized to issue capital stock. (3635)

(5) "Commissioner" means the savings and mortgage lending commissioner. (3636)

(6) "Company" means a corporation, partnership, trust, joint-stock company, association, unincorporated organization, or other similar entity or a combination of any of those entities acting together. (3637)

(7) "Domestic association" means a savings and loan association organized under the laws of this state. (3638)

(8) "Earnings on savings accounts" means interest contractually payable or dividends declared payable to holders of savings accounts in an association. (3639)

(9) "Federal association" means a savings and loan association incorporated under the Home Owners' Loan Act (12 U.S.C. Section 1461 et seq.). (3640)

(10) "Finance commission" means the Finance Commission of Texas. (3641)

(11) "Foreign association" means a savings and loan association: (3642)

(A) organized under the laws of: (3643)

(i) a state or territory of the United States other than this state; or (3644)

(ii) the United States; and (3645)

(B) the principal office of which is located outside this state. (3646)

(12) "Loss reserves" means the aggregate amount of the reserves allocated by an association solely to absorb losses. (3647)

(13) "Member" means, with respect to a mutual association, a person: (3648)

(A) holding a savings account with the mutual association; (3649)

(B) assuming or obligated on a loan in which the mutual association has an interest; or (3650)

(C) owning property that secures a loan in which the mutual association has an interest. (3651)

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