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Can you summarize 7 TXAC Chapter 67?
DEPARTMENT OF SAVINGS AND MORTGAGE LENDING > SAVINGS AND DEPOSIT ACCOUNTS
Short Summary
The provided legal document content covers various aspects related to savings and deposit accounts, user safety at unmanned teller machines, issuance of capital obligations by associations, method of computing dividends for associations, and distribution and payment of earnings on savings or deposit accounts by associations. The documents govern the authorization and requirements for deposit accounts for state-chartered associations, including the need for resolutions and bylaw amendments. They also require the submission of certificates and/or savings account forms for review. The documents provide guidelines for user safety at unmanned teller machines, including compliance with safety procedures by landlords or owners of property and evaluation of machine safety. They also mandate issuers of access devices to provide customers with notice of basic safety precautions. The documents govern the issuance of capital obligations by associations, requiring prior approval and proof of proper amortization and utilization of funds. They also address the method of computing dividends for associations and the distribution and payment of earnings on savings or deposit accounts. The documents apply to state-chartered associations, landlords or owners of property with unmanned teller machines, issuers of access devices, and associations permitting withdrawal of funds or distributing earnings. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
State-chartered associations, landlords or owners of property with unmanned teller machines, issuers of access devices, associations permitting withdrawal of funds from savings or deposit accounts, associations distributing or paying earnings on savings or deposit accounts
What does it govern?
Deposit accounts for state-chartered associations, user safety at unmanned teller machines, issuance of capital notes, debentures, bonds, or other secured or unsecured capital obligations by associations, method of computing dividends for associations, distribution and payment of earnings on savings accounts or interest on deposit accounts by associations
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Texas