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Texas Laws | Finance Code
FINANCE CODE
TITLE 2. FINANCIAL REGULATORY AGENCIES

Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009. (1287)

Sec. 16.012. GIFTS. (1288)(Text)

(a) Notwithstanding any other law, a financial regulatory agency may not accept a gift, grant, or donation: (1289)

(1) from a party to an enforcement action; or (1290)

(2) to pursue a specific investigation or enforcement action. (1291)

(b) A financial regulatory agency must: (1292)

(1) report each gift, grant, or donation that the agency receives as a separate item in the agency's report required under Section 16.005(b); and (1293)

(2) include with the report a statement indicating the purpose for which each gift, grant, or donation was donated and used. (1294)

Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009. (1295)

TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES (1296)(Text)

SUBTITLE A. BANKS (1297)(Text)

CHAPTER 31. GENERAL PROVISIONS (1298)(Text)
Sec. 31.001. SHORT TITLE. (1299)(Text)

This subtitle may be cited as the Texas Banking Act. (1300)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (1301)

Sec. 31.002. DEFINITIONS. (1302)(Text)

(a) In this subtitle: (1303)

(1) "Affiliate" means a company that directly or indirectly controls, is controlled by, or is under common control with a bank or other company. (1304)

(2) "Bank" means a state or national bank. If the context requires, the term includes a bank as defined by Section 201.002(a)(4) that is organized under the laws of another state or country. (1305)

(3) "Bank holding company" has the meaning assigned by the Bank Holding Company Act of 1956 (12 U.S.C. Section 1841 et seq.) or a successor to that Act. (1306)

(4) "Banking" means the performance of the exclusive depository institution functions of accepting deposits and discounting loans and the performance of related activities that are not exclusive to banks or other depository institutions, including paying drafts or checks, lending money, and providing related financial services authorized by this subtitle. (1307)

(5) "Banking association" means a state bank that is organized under this subtitle as a corporation, authorized to issue shares of stock, and controlled by its shareholders. (1308)

(6) "Banking commissioner" means the banking commissioner of Texas or a person designated by the banking commissioner and acting under the banking commissioner's direction and authority. (1309)

(7) "Board" means the board of directors of, or a person or group of persons acting in a comparable capacity for, a state bank or other entity. As the context requires, the term includes the board of managers of a limited banking association. (1310)

(8) "Branch" means a location of a bank, other than the bank's home office, at which the bank engages the public in the business of banking. The term does not include: (1311)

(A) a drive-in facility located not more than 2,000 feet from the nearest wall of the home office or an approved branch office of the bank; (1312)

(B) a night depository; (1313)

(C) an electronic terminal; (1314)

(D) a deposit or loan production office as described by Section 32.204; (1315)

(E) a state or federally licensed armored car service or other courier service transporting items for deposit or payment, unless: (1316)

(i) the risk of loss of items in the custody of the service is borne by the employing bank; or (1317)

(ii) the items in the custody of the service are considered to be in customer accounts at the employing bank or federally insured through the employing bank; (1318)

(F) a location at which the bank offers exclusively nondepository financial products or services to the public, including financial, investment, or economic advisory services; (1319)

(G) a location that combines permissible non-branch functions or facilities; or (1320)

(H) another office or facility as provided by this subtitle or a rule adopted under this subtitle. (1321)

(9) "Capital" means: (1322)

(A) the sum of: (1323)

(i) the par value of all shares of the state bank having a par value that have been issued; (1324)

(ii) the consideration set by the board for all shares of the state bank without par value that have been issued, except a part of that consideration that: (1325)

(a) has been actually received; (1326)

(b) is less than all of that consideration; and (1327)

(c) the board, by resolution adopted not later than the 60th day after the date of issuance of those shares, has allocated to surplus with the prior approval of the banking commissioner; and (1328)

(iii) an amount not included in Subparagraphs (i) and (ii) that has been transferred to capital of the state bank, on the payment of a share dividend or on adoption by the board of a resolution directing that all or part of surplus be transferred to capital, minus each reduction made as permitted by law; less (1329)

(B) all amounts otherwise included in Paragraphs (A)(i) and (ii) that are attributable to the issuance of securities by the state bank and that the banking commissioner determines, after notice and an opportunity for hearing, should be classified as debt rather than equity securities. (1330)

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