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

(b) An offense under Subsection (a) is a state jail felony. (5070)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (5071)

Amended by: (5072)

Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 25.062, eff. September 1, 2009. (5073)

Acts 2013, 83rd Leg., R.S., Ch. 464 (S.B. 1008), Sec. 8, eff. September 1, 2013. (5074)

Sec. 89.102. GENERAL ADMINISTRATIVE PENALTY. (5075)(Text)

(a) The commissioner may require an association that knowingly violates this subtitle or a rule adopted under this subtitle to pay to the Department of Savings and Mortgage Lending an administrative penalty not to exceed $1,000 for each day that the violation occurs after notice of the violation is given by the commissioner. (5076)

(b) On the commissioner's certification that an association has not paid a penalty assessed under this section, the attorney general may file suit to collect the penalty. (5077)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (5078)

Amended by: (5079)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.036, eff. September 1, 2007. (5080)

SUBTITLE C. SAVINGS BANKS (5081)(Text)

CHAPTER 91. GENERAL PROVISIONS (5082)(Text)
Sec. 91.001. SHORT TITLE. (5083)(Text)

This subtitle may be cited as the Texas Savings Bank Act. (5084)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (5085)

Sec. 91.002. DEFINITIONS. (5086)(Text)

In this subtitle: (5087)

(1) "Appropriate banking agency": (5088)

(A) means: (5089)

(i) with respect to a savings bank chartered by this state, the Department of Savings and Mortgage Lending; (5090)

(ii) with respect to a federal savings bank, the Office of the Comptroller of the Currency; (5091)

(iii) with respect to a savings and loan association chartered by this state, the Department of Savings and Mortgage Lending; (5092)

(iv) with respect to a federal savings and loan association, the Office of the Comptroller of the Currency; (5093)

(v) with respect to a bank chartered by this state, the Texas Department of Banking; (5094)

(vi) with respect to a national bank, the Office of the Comptroller of the Currency; and (5095)

(vii) with respect to a bank, savings bank, or savings and loan association chartered by another state, the chartering agency; and (5096)

(B) includes: (5097)

(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; (5098)

(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 (5099)

(iii) any successor of a state or federal agency specified by this subdivision. (5100)

(2) "Board" means the board of directors of a savings bank or the managers of a savings bank organized as a limited savings bank. (5101)

(3) "Capital stock" means the units into which the proprietary interest in a capital stock savings bank is divided. (5102)

(4) "Capital stock savings bank" means a savings bank authorized to issue capital stock. (5103)

(5) "Commissioner" means the savings and mortgage lending commissioner. (5104)

(6) "Company" means a corporation, partnership, trust, joint-stock company, association, unincorporated organization, or other legal entity, or a combination of any of those entities acting together. (5105)

(7) "Deposit account" means a savings account, certificate of deposit, withdrawable deposit, demand deposit account, checking account, or any other term referring to the amount of money a savings bank owes an account holder as the result of the deposit of money in the savings bank. (5106)

(8) "Deposit liability" means the aggregate amount of money shown by the books of the savings bank to be owed the savings bank's deposit account holders after applying any legal or contractual reduction. (5107)

(9) "Domestic savings bank" means a savings bank organized under the laws of this state. (5108)

(10) "Earnings on account" means interest contractually payable or dividends declared payable to holders of deposit accounts in a savings bank. (5109)

(11) "Federal Deposit Insurance Corporation" includes any successor. (5110)

(12) "Federal savings bank" means a savings bank incorporated under the laws of the United States. (5111)

(13) "Finance commission" means the Finance Commission of Texas. (5112)

(14) "Financial institution" has the meaning assigned by Section 201.101. (5113)

(15) "Foreign savings bank" means a savings bank: (5114)

(A) organized under the laws of: (5115)

(i) a state of the United States other than this state; or (5116)

(ii) the United States; and (5117)

(B) the principal office of which is located outside this state. (5118)

(16) "Holding company" means a company that directly or indirectly controls a savings bank or controls another company that directly or indirectly controls a savings bank. (5119)

(16-a) "Limited savings bank" means a savings bank electing to be organized as a limited liability company under this subtitle. (5120)

(17) "Loss reserves" means the aggregate amount of the reserves allocated by a savings bank solely to absorb losses. (5121)

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