Texas Finance Code

§ 59.009 — COMPLIANCE REVIEW COMMITTEE

FI § 59.009Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 59. MISCELLANEOUS PROVISIONS · Art. A. GENERAL PROVISIONS

Statute text

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(a)A financial institution or an affiliate of a financial institution, including its holding company, may establish a compliance review committee to test, review, or evaluate the financial institution's conduct, transactions, or potential transactions for the purpose of monitoring and improving or enforcing compliance with:

(1)a statutory or regulatory requirement;

(2)financial reporting to a governmental agency;

(3)the policies and procedures of the financial institution or its affiliates; or

(4)safe, sound, and fair lending practices.

(b)Except as provided by Subsection (c):

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Legislative history

Renumbered from Sec. 59.007 and amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.016, eff. Sept. 1, 1999.