Texas Finance Code
§ 93.008 — POWERS RELATIVE TO OTHER FINANCIAL INSTITUTIONS
FI § 93.008Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 93. GENERAL POWERS
Statute text
View on source(a)Subject to limitations prescribed by rule of the finance commission, a savings bank may make a loan or investment or engage in an activity permitted:
(1)under state law for a bank or savings and loan association; or
(2)under federal law for a federal savings and loan association, savings bank, or national bank if the financial institution's principal office is located in this state.
(b)Notwithstanding any other law, a savings bank organized and chartered under this chapter 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 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 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;
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Legislative history
Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.17, eff. September 1, 2005.