Texas Finance Code
§ 204.105 — POWERS OF BRANCH AND AGENCY
FI § 204.105Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part G. BANK HOLDING COMPANIES; INTERSTATE BANK OPERATIONS · Ch. 204. FOREIGN BANKS · Art. B. DIRECT BRANCH AND AGENCY OFFICES OF FOREIGN BANKS
Statute text
View on source(a)A Texas state branch or agency is subject to this subtitle and other laws of this state applicable to banks as if the Texas state branch or agency were a Texas state bank unless:
(1)this chapter or a rule adopted under this subtitle provides otherwise; or
(2)the context of a provision or other information indicates that a provision applies only to a bank organized under the laws of a state or the United States.
(b)Among other exceptions to Subsection (a) that may be required or authorized by the commissioner provided by this subchapter or by rules adopted under this subtitle:
(1)a Texas state branch may not accept deposits of less than an amount equal to the standard maximum deposit insurance amount from citizens or residents of the United States, other than credit balances that are incidental to or arise out of its exercise of other lawful banking powers, unless the Federal Deposit Insurance Corporation determines that specific deposit taking activities in lesser amounts do not constitute domestic retail deposit activities requiring deposit insurance protection within the meaning of Section 6, International Banking Act (12 U.S.C. Section 3104);
(2)a Texas state agency may not accept deposits from citizens or residents of the United States, other than credit balances that are incidental to or arise out of its exercise of other lawful banking powers, but may accept deposits from persons who are neither citizens nor residents of the United States; and
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Legislative history
Acts 2007, 80th Leg., R.S., Ch. 110 (H.B. 2007), Sec. 13, eff. September 1, 2007. Acts 2017, 85th Leg., R.S., Ch. 915 (S.B. 1400), Sec. 4, eff. September 1, 2017.