Texas Finance Code

§ 98.202 — REVOCATION OF CERTIFICATE

FI § 98.202Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 98. FOREIGN FINANCIAL INSTITUTIONS · Art. C. CERTIFICATE OF AUTHORITY

Statute text

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(a)The commissioner may revoke a foreign savings bank's certificate of authority on the failure or refusal of the savings bank to comply with a final order of the commissioner.

(b)On revocation under Subsection (a), an agent of the savings bank may not transact business in this state except to:

(1)receive a payment to apply to an active loan contract; or

(2)pay a withdrawal request.

Legislative history

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