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Texas Finance Code - FIN § 11.302. Savings Association and Savings Bank Rules

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The finance commission may adopt rules applicable to state savings associations or to savings banks and may authorize state savings associations and savings banks to invest money of state savings associations or savings banks in any manner permitted for a federal savings association or federal savings bank domiciled in this state.  This subsection does not authorize the finance commission to diminish or limit a right or power specifically given to state savings associations or savings banks by state law.

(b) The finance commission may adopt rules to:

(1) prevent state savings associations or savings banks from concentrating an excessive or unreasonable portion of the resources of state savings associations or savings banks in a type or character of loan or security authorized by Subtitle B or C, Title 3;    1 and

(2) establish standards for investments by state savings associations or savings banks, including limits on the amount that a state savings association or savings bank may invest in a type or character of investment to an amount or percentage of the savings association's or savings bank's assets or net worth.

1  V.T.C.A., Finance Code § 61.001 et seq., or V.T.C.A., Finance Code § 91.001 et seq.
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Cite this article: FindLaw.com - Texas Finance Code - FIN § 11.302. Savings Association and Savings Bank Rules - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-11-302/

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