Texas Finance Code

§ 202.002 — LIMITATION ON CONTROL OF DEPOSITS

FI § 202.002Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part G. BANK HOLDING COMPANIES; INTERSTATE BANK OPERATIONS · Ch. 202. BANK HOLDING COMPANIES

Statute text

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(a)The commissioner may not approve an acquisition if, on consummation of the transaction, the applicant, including all depository institution affiliates of the applicant, would control 20 percent or more of the total amount of deposits in this state held by depository institutions in this state.

(b)The commissioner may request and the applicant shall provide supplemental information to the commissioner to aid in a determination under this section, including information that is more current than or in addition to information in the most recently available summary of deposits, reports of condition, or similar reports filed with or produced by state or federal authorities.

Legislative history

Added by Acts 1999, 76th Leg., ch. 344, Sec. 1.001, eff. Sept. 1, 1999.