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Can you summarize Tex. Fin. Chapter 201?
BANK HOLDING COMPANIES; INTERSTATE BANK OPERATIONS > GENERAL PROVISIONS
Short Summary
This legal document, part of the Texas Statutes under the Finance Code, covers various provisions related to finance, banking, and bank holding companies in Texas. It sets forth the conditions for acquiring a Texas bank or bank holding company, permits interstate branching, and provides for state regulation of foreign banks in the financial markets of Texas. The document includes definitions for various terms used in the relevant statutes and grants the finance commission the authority to adopt additional definitions through rulemaking. It also grants the finance commission the authority to adopt rules necessary to implement and clarify the subtitle, in accordance with applicable federal law. The document clarifies the application of Texas laws to interstate branches located in Texas, stating that the laws of Texas apply to interstate branches in the same way they would apply to branches of out-of-state national banks in Texas, except as provided by federal law. It also clarifies that the laws of Texas govern deposit contracts between a bank and a consumer account holder if the branch or separate office accepting the contract is located in Texas. The document further addresses cooperative agreements and fees related to bank supervisory agencies and regulatory agencies, allowing the commissioner to enter into agreements, accept reports, and assess fees on state banks, state savings banks, bank holding companies, and foreign banks. It also pertains to the issuance of interpretive statements and opinions by the commissioner, providing guidelines for their issuance and dissemination. The document emphasizes the confidentiality of information obtained by the commissioner and outlines the notification requirements for out-of-state state banks with interstate branches in Texas. It also covers the enforcement and appeals process for bank holding companies, foreign banks, and out-of-state state banks operating in Texas, including the right to appeal final orders or decisions of the commissioner. Finally, the document mentions the applicability of franchise tax to banks subject to this subtitle and states that the provisions of this subtitle are severable as provided by the Government Code.
Whom does it apply to?
Acquirers of Texas banks or bank holding companies, interstate branches, foreign banks in Texas financial markets, state banks, state savings banks, bank holding companies, and out-of-state state banks with interstate branches in Texas
What does it govern?
Various provisions related to finance, banking, and bank holding companies in Texas
What are exemptions?
No specific exemptions are mentioned in this document.
What are the Penalties?
No specific penalties are mentioned in this document.
Jurisdiction
Texas