This section of the Texas Statutes governs transactions between state trust companies and their management and affiliates. Without prior approval from a disinterested majority of the board or the banking commissioner, a state trust company may not sell or lease assets to its officers, directors, managers, managing participants, principal shareholders or participants, or affiliates. Similarly, the state trust company may not purchase or lease assets in which these individuals or affiliates have an interest.

This provision, found in the Texas Statutes under the Finance Code, pertains to state banks and their ability to establish deposit or loan production offices. The purpose of these offices is to solicit deposit accounts, loan applications, and perform related ministerial duties. State banks are also allowed to conduct other activities as permitted by rules adopted under this subtitle. Before establishing a deposit or loan production office, the bank must notify the banking commissioner in writing, providing the location and activities to be conducted.

(a) A merger is not permitted under this subchapter if, on consummation of the transaction, the resulting state bank, including all insured depository institution affiliates of the resulting state bank, would control 20 percent or more of the total amount of deposits in this state held by all insured depository institutions in this state. (b) On request of the banking commissioner the applicant shall provide supplemental information to the banking commissioner to aid in a determination under this section, including information that is more current than or in addition to information in the most recently available summary of deposits, reports of condition, or similar reports filed with or produced by state or federal authorities.

The purchasing bank may pay a depositor or creditor of the selling institution the amount to be paid the person under the terms of the contract of agency by opening an account in the name of the depositor or creditor, crediting the account with the amount to be paid the depositor or creditor under the terms of the agency contract, and mailing or personally delivering a duplicate deposit ticket evidencing the credit to the depositor or creditor at the person’s address shown in the records of the selling institution.

(a) Without the prior approval of a disinterested majority of the board recorded in the minutes or, if a disinterested majority cannot be obtained, the prior written approval of the banking commissioner, a state bank may not directly or indirectly: (1) sell or lease an asset of the bank to an officer, director, or principal shareholder of the bank or of an affiliate of the bank; or (2) purchase or lease an asset in which an officer, director, or principal shareholder of the bank or of an affiliate of the bank has an interest.

(a) This section applies to an open-end account agreement that provides for credit card transactions: (1) in which the creditor relies on one of the ceilings authorized by Chapter 303 for the rate of interest; and (2) in connection with which the creditor does not impose or receive a merchant discount. (b) Interest or time price differential may not be charged for a billing cycle of an open-end account credit agreement if: (1) the total amount of the obligor’s payments during the cycle equal or exceed the balance owed under the agreement at the end of the preceding billing cycle; or (2) an amount is not owed under the agreement at the end of the preceding billing cycle.

This provision, added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.01, eff. September 1, 2005, governs the liability of lenders and builders in relation to construction defects in foreclosed homes. According to this provision, a federally insured financial institution regulated under the Texas Finance Code is not considered a builder for the purposes of Chapter 27, Property Code. Additionally, a lender regulated by the Texas Finance Code that acquires a home through foreclosure or other legal means when the loan is in default is not liable to a subsequent purchaser for any construction defects that the lender had no knowledge of prior to acquiring the home.

The provided legal document content covers various aspects related to state banks in Texas. It includes the ownership and management of state banks, voting rights, composition and qualifications of the board of directors, appointment and responsibilities of officers, conduct of officers, directors, employees, and shareholders, restrictions on transactions involving bank assets, confidentiality of information obtained by the banking commissioner, succession of trust powers for state banks during dissolution and liquidation. The documents apply to state banks, their board of directors, officers, advisory directors, limited banking associations, financial institutions, shareholders, officers, directors, affiliates, third-party service providers, participants and managers of limited banking associations, banking commissioner, Federal Deposit Insurance Corporation or its successor.

The legal document governs the procurement and advertising activities related to the operation of the state lottery in Texas. The Texas Lottery Commission, executive director, lottery operators, sales agents, and minority businesses are the main entities to which these provisions apply. The commission is authorized to purchase or lease facilities, goods, and services necessary for carrying out the purposes of the lottery. Major procurements require commission approval, while the executive director may approve other procurements.

This legal document governs the licensing of sales agents for the Texas State Lottery. It states that individuals authorized by the executive director to sell tickets must be licensed as sales agents by the commission. The executive director has the authority to establish provisional licenses or other classes of licenses to regulate and administer the quantity and type of lottery games at each licensed location. The document also emphasizes the director’s attempt to license minority businesses as sales agents in at least 20 percent of the licenses issued.