Ask Reggi Your Question Now
Can you summarize Tex. Fin. Chapter 12?
FINANCIAL REGULATORY AGENCIES > TEXAS DEPARTMENT OF BANKING
Short Summary
The provided legal document content covers various aspects of the operation of the Texas Department of Banking. It outlines the appointment and duties of the banking commissioner, including the requirement of at least seven years’ experience in banking or bank supervision. The document also addresses the appointment and powers of deputy banking commissioners, as well as the oath of office required for certain department officers and employees. Additionally, it discusses the establishment of fees for the administration of relevant chapters and the payment of audit costs. The document provides protection from personal liability for department officials and employees for official acts or omissions, unless they are corrupt or malicious, with the attorney general responsible for defending actions brought against them. It also addresses conflict of interest restrictions for department employees, including limitations on holding positions in Texas trade associations and acting as general counsel while registered as a lobbyist. The document outlines the department’s responsibility to maintain a system for handling complaints, including the collection and dissemination of information related to complaints. Furthermore, it highlights the department’s role in promoting financial literacy and education programs, as well as its authority to accept gifts, grants, or donations for this purpose. The document mentions the sunset provision for the office of banking commissioner, which may be abolished if not continued in existence. It also requires the banking commissioner to provide information regarding office or employment requirements and establishes a policy for equal employment opportunity within the department. The document emphasizes the promotion of negotiated rulemaking and alternative dispute resolution procedures within the department, with the department responsible for coordination and data collection. Lastly, it allows the banking commissioner to appoint advisory committees to assist in performing department duties. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Entities and individuals subject to the Texas Department of Banking
What does it govern?
Operation of the Texas Department of Banking
What are exemptions?
No specific exemptions are mentioned in this chapter
What are the Penalties?
No specific penalties are mentioned in this chapter
Jurisdiction
Texas