Texas Finance Code

§ 32.011 — FINANCIAL ACTIVITIES

FI § 32.011Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 32. POWERS, ORGANIZATION, AND FINANCIAL REQUIREMENTS · Art. A. ORGANIZATION AND POWERS IN GENERAL

Statute text

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(a)The finance commission by rule may determine that an activity not otherwise approved or authorized for a state bank under this subtitle or other law is:

(1)a financial activity;

(2)incidental to a financial activity; or

(3)complementary to a financial activity.

(b)In adopting a rule under Subsection (a), the finance commission shall consider:

(1)the purposes of this subtitle and the Gramm-Leach-Bliley Act (Pub. L. No. 106-102);

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Legislative history

Added by Acts 2001, 77th Leg., ch. 528, Sec. 8, eff. Sept. 1, 2001.