Texas Finance Code

§ 96.101 — INTERVENTION FOR VIOLATIONS AND UNSAFE AND UNSOUND PRACTICES

FI § 96.101Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 96. SUPERVISION AND REGULATION · Art. C. SUPERVISORY INTERVENTION

Statute text

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(a)The commissioner may intervene in the affairs of a savings bank if the savings bank or a person who participates in the affairs of the savings bank or a subsidiary or holding company of the savings bank:

(1)engages in or is about to engage in an unsafe and unsound practice in conducting the affairs of the savings bank; or

(2)violates or is about to violate:

(A)the articles of incorporation or bylaws of the savings bank;

(B)a law or supervisory order applicable to the savings bank; or

(C)a condition that the commissioner or the finance commission has imposed on the savings bank by written order, directive, or agreement.

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Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.