Texas Finance Code
§ 122.013 — FOREIGN CREDIT UNIONS
FI § 122.013Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 122. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. A. INCORPORATION REQUIREMENTS
Statute text
View on source(a)A foreign credit union may do business in this state if it is organized in a state or country that allows any credit union organized under this subtitle to do business in that state or country.
(b)A foreign credit union doing business in this state is subject to rules adopted under this subtitle and any additional commission requirement.
(c)The commissioner may suspend or revoke a foreign credit union's authority to do business in this state if the commissioner finds that the foreign credit union:
(1)has failed to conduct its business in this state in a manner consistent with the laws of this state;
(2)is in an unsafe or unsound condition;
(3)refuses to comply with an order of the commissioner;
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Legislative history
Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 6, eff. September 1, 2013.