Texas Finance Code
§ 32.010 — ADDITIONAL POWERS
FI § 32.010Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 32. POWERS, ORGANIZATION, AND FINANCIAL REQUIREMENTS · Art. A. ORGANIZATION AND POWERS IN GENERAL
Statute text
View on source(a)Notwithstanding another law, a Texas state bank may perform an act, own property, or offer a product or service that is at the time permissible within the United States for a depository institution organized under federal law or the law of this state or another state, if the banking commissioner approves the exercise of the power as provided by this section, subject to the same limitations and restrictions applicable to the other depository institution by pertinent law, except to the extent the limitations and restrictions are modified by rules adopted under Subsection (e). This section may not be used by a Texas state bank to alter or negate the application of the laws of this state with respect to:
(1)establishment and maintenance of a branch in this state or another state or country;
(2)permissible interest rates and loan fees chargeable in this state;
(3)fiduciary duties owed to a client or customer by the bank in its capacity as fiduciary in this state;
(4)consumer protection laws applicable to transactions in this state; or
(5)licensing and regulatory requirements administered by a functional regulatory agency in this state, as defined by Section 31.303, including licensing and regulatory requirements pertaining to:
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Legislative history
Acts 2019, 86th Leg., R.S., Ch. 20 (S.B. 614), Sec. 13, eff. September 1, 2019.