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Can you summarize Tex. Fin. Chapter 15?
FINANCIAL REGULATORY AGENCIES > CREDIT UNION COMMISSION AND DEPARTMENT
Short Summary
This legal document pertains to the Credit Union Commission and Department in Texas. The department is responsible for supervising and regulating credit unions in accordance with the Texas Statutes and the Finance Code. It consists of the commission, the commissioner, and other department officers and employees. The commission is composed of nine members appointed by the governor, and they serve staggered terms of six years. The commission is responsible for developing policies, establishing fees, and providing the public with an opportunity to appear before the commission. The commissioner is responsible for supervising and regulating credit unions, convening hearings, examining credit union service organizations, and enforcing relevant chapters and subtitle. The document also outlines the rules governing the purpose, structure, and use of advisory committees by the commission. The advisory committees are intended to advise the commission and are not responsible for rulemaking or policymaking. The commission is required to adopt rules regarding advisory committees and periodically evaluate their necessity. Overall, these documents provide the legal framework for the functioning, regulation, and supervision of credit unions in Texas.
Whom does it apply to?
Credit unions in Texas
What does it govern?
Credit Union Commission and Department in Texas
What are exemptions?
No specific exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Texas