Texas Finance Code
§ 96.0551 — REGULATION AND EXAMINATION OF CERTAIN RELATED ENTITIES
FI § 96.0551Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 96. SUPERVISION AND REGULATION · Art. B. EXAMINATIONS AND REPORTS
Statute text
View on source(a)In this section, "state savings bank" has the meaning assigned by Section 31.002.
(b)The commissioner may regulate and examine, to the same extent as if the services or activities were performed by a state savings bank on its own premises:
(1)the activities of a state savings bank affiliate; and
(2)the services or activities of a third-party service provider that a state savings bank or state savings bank affiliate has contracted for or otherwise arranged to be performed on behalf of the state savings bank or state savings bank affiliate.
(c)The commissioner may collect a fee from an examined third-party service provider or affiliate in connection with each examination to cover the cost of the examination or may collect that fee from the state savings banks that use the examined third-party service provider.
(d)For purposes of this section, a third-party service provider or state savings bank affiliate does not include a company or firm in which ownership or membership is limited to individuals and conditioned by law on the existence and maintenance of professional licensing.
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Legislative history
Added by Acts 2021, 87th Leg., R.S., Ch. 963 (S.B. 1900), Sec. 2, eff. September 1, 2021.