Texas Finance Code

§ 202.006 — FINANCIAL ACTIVITIES

FI § 202.006Title 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)A financial holding company may engage in a financial activity or an activity incidental or complementary to a financial activity if the activity has been authorized by:

(1)the Board of Governors of the Federal Reserve System under 12 U.S.C. Section 1843(k); or

(2)a rule adopted by the finance commission under Subsection (b).

(b)The finance commission by rule may determine that an activity not otherwise approved or authorized under this chapter, federal law, or other law is:

(1)a financial activity;

(2)incidental to a financial activity; or

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Legislative history

Added by Acts 2001, 77th Leg., ch. 528, Sec. 31, eff. Sept. 1, 2001.