PART 4. DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
CHAPTER 75. APPLICATIONS
The Finance Commission of Texas (commission), on behalf of the Department of Savings and Mortgage Lending (department), adopts: the repeal of existing rules at 7 Texas Administrative Code (TAC) Chapter 75, Subchapter A, §§75.1 - 75.3, 75.5 - 75.7, 75.9, and 75.10; Subchapter C, §§75.31, 75.34, and 75.35; Subchapter D, §§75.83 - 75.86 and 75.90; and Subchapter E, §75.121, 75.123, and §75.125; new rules at 7 TAC Chapter 75, Subchapter A, §§75.1 - 75.3, 75.6, and 75.10; Subchapter C, §75.31 and §75.35; Subchapter D, §75.83 and §75.90; Subchapter E, §75.123; and new Subchapter F, §§75.201 - 75.204; and amendments to existing rules in 7 TAC Chapter 75, Subchapter A, §75.8; Subchapter B, §§75.25 - 75.27; Subchapter C, §§75.32, 75.33, 75.36, 75.38, 75.39, and 75.41; Subchapter D, §§75.81, 75.82, 75.87 - 75.89, and 75.91; and Subchapter E, §§75.122, 75.124, 75.126, and 75.127, without changes to the text as published in the January 1, 2021 issue of the Texas Register (46 TexReg 20). The rules will not be republished.
Explanation of and Justification for the Rules
The existing rules under 7 TAC Chapter 75 partially implement Finance Code Subtitle C, the Texas Savings Bank Act. The adopted rules were identified during the department's periodic review of 7 TAC Chapter 75, conducted pursuant to Government Code §2001.039.
Changes Concerning Additional Offices
Finance Code §92.063 requires a savings bank to obtain the approval of the department's commissioner (commissioner) in order to establish an office other than the savings bank's home office approved under its banking charter. Existing §75.31, among other things, reasserts the requirements of Finance Code §92.063. The adopted rules repeal and replace existing §75.31. Adopted new §75.31 (repealed and replaced), at subsection (e), contains a list of activities that, when performed at a location other than the home or a branch office of a savings bank, is deemed by rule not to constitute an additional office of the savings bank requiring prior approval of the commissioner to establish. Existing §75.32, concerning Types of Additional Offices, describes specific types of additional offices other than a home or a branch office that are recognized by the commissioner and require the commissioner's prior approval to establish. Existing §75.32(a) is amended to eliminate loan production offices, administrative offices, and deposit production offices as "additional offices" for purposes of the Texas Savings Bank Act, to correspond with the activities typically performed at these offices becoming sanctioned to be performed at a location other than an approved home or branch office, as provided by new § 75.31 (repealed and replaced). Other sanctioned activities in new §75.31 (repealed and replaced) include the operation of automated or remote banking equipment (e.g., ATMs), advertising, the operation of information technology equipment, participation at trade association and community events, and the provision of customer service ancillary to banking functions. Adopted new §75.31 (repealed and replaced) requires a savings bank seeking to permanently close an approved office to comply with the notice requirements of federal law and provide the department with a copy of such notice. Adopted new §75.31 (repealed and replaced) also clarifies that upon closure of the office, any prior approval to have opened such office is deemed revoked and a savings bank seeking to reopen such office must seek new approval in order to do so.
Changes Concerning the Selling of Assets
Under existing §75.81, concerning Reorganization, Merger, Consolidation or Purchase and Assumption Transaction, sale of a savings bank's assets made "in bulk [and not] in the ordinary course of business" constitutes a purchase and assumption transaction under the rule, requiring application with the department and approval from the commissioner. The adopted rules amend §75.81 such that the selling of assets in this fashion is no longer considered to constitute a purchase and assumption transaction under the rule.
Changes Concerning Application Procedures
The adopted rules make various changes concerning how applications are filed with the department. The adopted rules create a new Subchapter F, concerning General Provisions, designed to contain requirements of general applicability in the chapter. Existing §75.121, concerning Definitions, containing definitions applicable to the entirety of Chapter 75, is repealed and its subject matter addressed by new Subchapter F, §75.201, concerning Definitions. Adopted new §75.201 largely reconstitutes the definitions in existing §75.121, however, new definitions are added for the terms "FDIC" and "managing officer," as that term is used in Finance Code §92.055. The existing rules in Chapter 75 provide that, for most application types, the applicant must publish a public notice of the application in a newspaper of general circulation in the county or counties affected by the relief sought by the application. A new §75.203 is added in new Subchapter F to establish uniform requirements for making such notices. The existing rules for each application type are also changed (amended, or by repeal and replacement of the rule) to clarify and establish by rule the county or counties where the public notice must be published.
Changes Concerning Hearings on Applications
Existing §75.10, concerning Change of Name, §75.33, concerning Branch Office Applications, §75.35, concerning Mobile Facilities, §75.38, concerning Change of Home or Branch Office Location, and §75.83, concerning Notice of Hearing (reorganization, merger, or consolidation), create processes and procedures governing how hearings are conducted for each application type addressed by each such rule by referring to and adopting the processes and procedures governing charter applications, contained in existing Chapter 75, Subchapter A. The adopted rules establish separate processes and procedures specific to each such rule, rather than by adopting by reference the processes and procedures applicable to charter applications. Existing §75.7, concerning Motions for Rehearing, which establishes certain timelines for a motion for rehearing made pursuant to Finance Code §91.006, is repealed, and its subject matter addressed by new Subchapter F, §75.203, concerning Motions for Rehearing. Adopted new §75.203 also extends the time period for filing a reply to a motion for rehearing from 25 days after the date the order was signed under existing §75.7, to 30 days after the date the order was signed.
Other Modernization and Update Changes.
The adopted rules make changes to modernize and update the rules including: adding and replacing language for clarity and to improve readability; removing unnecessary or duplicative provisions; and updating terminology.
Summary of Public Comments
Publication of the commission's proposal for the rule amendments, new rules, and repeals recited a deadline of 30 days to receive public comments, or January 31, 2021. A public hearing in accordance with Government Code §2001.029 was not required. No comments were received.
SUBCHAPTER A. CHARTER APPLICATIONS
7 TAC §§75.1 - 75.3, 75.5 - 75.7, 75.9, 75.10
Statutory Authority
The repeals are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100747
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 1, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §§75.1 - 75.3 and 75.6 are adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraph (2) of that subsection; Chapter 92, Subchapter B; §92.203; and §92.601(b). 7 TAC §75.8 is adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (2) and (14) of that subsection; §92.051; §92.060; and §92.058. 7 TAC §75.10 is adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (2) and (14) of that subsection; and §92.063.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100748
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 1, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §§75.25 - 75.27 are adopted under the authority of, and to implement, Finance Code §96.002(a), for those specific subject matters outlined in paragraph (2) of that subsection.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100749
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 1, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The repeals are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100750
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 1, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §§75.31 - 75.33, 75.35, 75.36, 75.38, 75.39 and 75.41 are adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (2) and (14) of that subsection; and §92.063. 7 TAC §75.36 is also adopted under the authority of, and to implement, Finance Code §92.352.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100751
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 1, 2021
For further information, please call: (512) 475-1535
7 TAC §§75.81 - 75.83, 75.87 - 75.91
Statutory Authority
The rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §§75.81 - 75.83 and 75.88 are adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (2) and (13) of that subsection; and Chapter 92, Subchapters C and H. 7 TAC §75.88 is also adopted under the authority of, and to implement, Finance Code Chapter 92, Subchapter I. 7 TAC §75.89 is adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (2) and (13) of that subsection; and Chapter 92, Subchapter F. 7 TAC §75.90 is adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (2) and (13) of that subsection; and Chapter 92, Subchapter G. 7 TAC §75.91 is adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (2) and (13) of that subsection; and §92.052.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100752
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 1, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The repeals are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100753
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 1, 2021
For further information, please call: (512) 475-1535
7 TAC §§75.121, 75.123, 75.125
Statutory Authority
The repeals are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks.
The adopted rules affect the statutes contained in Finance Code, Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100754
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 1, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §§75.122 - 75.124, 75.126 and 75.127 are adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (2) and (10) of that subsection; and Chapter 92, Subchapter L. 7 TAC §75.122 is also adopted under the authority of Finance Code §96.002(b).
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100755
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 1, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §§75.201 - 75.204 are adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (2) and (10) of that subsection; and Chapter 92, Subchapter L. 7 TAC §75.122 is also adopted under the authority of Finance Code §96.002(b).
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the proposal and found it to be within the state agency's legal authority to adopt.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100756
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 1, 2021
For further information, please call: (512) 475-1535
The Finance Commission of Texas (commission), on behalf of the Department of Savings and Mortgage Lending (department), adopts: the repeal of existing rules at 7 Texas Administrative Code (TAC) Chapter 76, Subchapter A, §76.3; Subchapter D, §76.61; Subchapter E, §§76.71 - 76.73; and Subchapter G, §76.121; and amendments to existing rules in 7 TAC Chapter 76, Subchapter A, §§76.1, 76.2, 76.4 - 76.7, and 76.12; Subchapter B, §§76.21 - 76.26; Subchapter C, §§76.41 - 76.47; Subchapter F, §§76.91 - 76.97, 76.99 - 76.103, and 76.105 - 76.110; and Subchapter H, §76.122. Amended §76.94 is adopted with a minor non-substantive change to correct a typographical error and is republished to reflect such change. Amended §76.109 is further adopted with substantive changes to the published text due to a formatting error upon publication, and is republished to reflect such changes. The remaining sections affected by the proposal (§§76.1 - 76.7, 76.12, 76.21 - 76.26, 76.41 - 76.47, 76.61, 76.71 - 76.73, 76.91 - 76.93, 76.95 - 76.97, 76.99 - 76.103, 76.105 - 76.108, 76.110, 76.121, 76.122) are adopted without changes to the text as published in the January 8, 2021, issue of the Texas Register (46 TexReg 239) and will not be republished.
Explanation of and Justification for the Rules
The existing rules under 7 TAC Chapter 76 partially implement Finance Code Subtitle C, the Texas Savings Bank Act. The adopted rules were identified during the department's periodic review of 7 TAC Chapter 76, conducted pursuant to Government Code §2001.039.
Notice to Consumers Changes
Existing §76.122, concerning Savings Bank Complaint Notices, requires Texas-chartered savings banks to make a disclosure to consumers concerning the department's regulatory oversight and the ability to file complaints with the department. The adopted rules clarify the existing requirement for a savings bank to make a disclosure on its website by clarifying that the requirement applies only to websites accessible by the public and further clarifying how to conspicuously display such notice on a website in order to comply with the rule.
Books and Records Changes Existing §76.1, concerning Location of Books and Records, addresses how and where a savings bank keeps its books and records. The adopted rules amend §76.1 to clarify that a savings bank must comply with the applicable requirements of federal law in making and keeping its books and records, and require that records be kept in accordance with established best practices of the Federal Financial Institution Examination Council. Amended §76.3 further clarifies that, while records may be kept at a location other than the savings bank's home office, the savings bank must ensure that a complete set of its records is readily accessible at the home office. The title of §76.1 is also amended to better reflect the subject matter of the rule as amended. Existing §76.3 authorizes a savings bank to keep copies of its records, including by electronic means. The adopted rules repeal existing §76.3, and consolidate its subject matter in amended §76.1, which provides that records may be kept in an electronic, digital, or magnetic format.
Changes Concerning Reports from a Holding Company
Existing §76.42, concerning Reports, requires holding companies and their subsidiaries to file reports with the commissioner including any reports or other information it is required to file with the appropriate federal banking agency. The adopted rules clarify that a holding company need not file with the commissioner reports it has filed with the appropriate federal banking agency that are publicly available.
Change of Control Fee Changes
Existing §76.101, concerning Fee for Change of Control, establishes the fee for making an application for change of control of a savings bank in accordance with Finance Code Chapter 92, Subchapter L. The adopted rules lower the applicable fee from $10,000 to $5,000.
Changes Concerning Hearings on Applications
Existing §§76.71 - 76.73, concerning Hearings Officer, Rules of Procedure for Contested Hearings, and Publication of Hearing Notice, respectively, establish certain processes and procedures governing adjudicative hearings (contested cases) on applications filed with the commissioner. The adopted rules repeal these rules to coincide with a separate rules adoption for 7 TAC Chapter 75, wherein the subject matter of existing §§76.71 - 76.73 is addressed in such chapter.
Other Modernization and Update Changes
The adopted rules make changes to modernize and update the rules including: adding and replacing language for clarity and to improve readability; removing unnecessary or duplicative provisions; and updating terminology.
Summary of Public Comments
Publication of the commission's proposal for the rule amendments, new rules, and repeals recited a deadline of 30 days to receive public comments, or February 7, 2021. A public hearing in accordance with Government Code §2001.029 was not required. No comments were received.
SUBCHAPTER A. BOOKS, RECORDS, ACCOUNTING PRACTICES, FINANCIAL STATEMENTS AND RESERVES
7 TAC §§76.1, 76.2, 76.4 - 76.7, 76.12
Statutory Authority
The adopted rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §76.1 is adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (3) and (5) of that subsection; §92.201; and §96.056. 7 TAC §76.2 is adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (3) and (4) of that subsection; and §92.201. 7 TAC §76.4 is adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (7) and (11) of that subsection; §96.051; and §96.053. 7 TAC §76.5 is adopted under the authority of, and to implement, Finance Code §96.002(a), for those specific subject matters outlined in paragraph (11) of that subsection. 7 TAC §76.6 is adopted under the authority of, and to implement, Finance Code §96.002(a), for those specific subject matters outlined in paragraph (9) of that subsection. 7 TAC §76.7 is adopted under the authority of, and to implement, Finance Code §96.002(a), for those specific subject matters set forth in paragraph (11) of that subsection. 7 TAC §76.12 is adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraph (11) of that subsection; §92.051(b)(2); §92.058(c)(2); §92.062; §92.157; and §92.205.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 24, 2021.
TRD-202100785
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 16, 2021
Proposal publication date: January 8, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The adopted repeals are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 24, 2021.
TRD-202100786
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 16, 2021
Proposal publication date: January 8, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The adopted rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also made under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §76.21 and §76.22 are adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters set forth in paragraphs (1) and (11) of that subsection; §92.052(b); §92.053(b); §92.054; §92.102; and §92.203. 7 TAC §76.23 is adopted under the authority of, and to implement, Finance Code: 96.002(a), for those specific subject matters set forth in paragraphs (1) and (11) of that subsection; §92.203; and Chapter 96, Subchapter C. 7 TAC §§76.24 - 76.26 is adopted under the authority of, and to implement, Finance Code: 96.002(a), for those subject matters set forth in paragraph (11); and §93.004(b).
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 24, 2021.
TRD-202100787
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 16, 2021
Proposal publication date: January 8, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The adopted rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §§76.41 - 76.47 are adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraphs (11) and (15) of that subsection; and §97.002. 7 TAC §76.41 is further adopted under the authority of, and to implement, Finance Code §97.002. 7 TAC §76.42 is further adopted under the authority of, and to implement, Finance Code §97.004. 7 TAC §76.43 is further adopted under the authority of, and to implement, Finance Code §97.005. 7 TAC §76.44 is further adopted under the authority of, and to implement, Finance Code §97.006. 7 TAC §76.45 is further adopted under the authority of, and to implement, Finance Code §97.007. 7 TAC §76.46 is further adopted under the authority of, and to implement, Finance Code §97.003. 7 TAC §76.47 is further adopted under the authority of, and to implement, Finance Code Chapter 98, Subchapter B.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 24, 2021.
TRD-202100788
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 16, 2021
Proposal publication date: January 8, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The adopted repeals are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 24, 2021.
TRD-202100789
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 16, 2021
Proposal publication date: January 8, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The adopted repeals are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 24, 2021.
TRD-202100790
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 16, 2021
Proposal publication date: January 8, 2021
For further information, please call: (512) 475-1535
7 TAC §§76.91 -76.97, 76.99 - 76.103, 76.105 - 76.110
Statutory Authority
The adopted rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §§76.91 - 76.97, 76.99 - 76.103, 76.105 - 76.110 are adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraph (2) of that subsection; §91.007; and 16.003(c). 7 TAC §76.91 is further adopted under the authority of, and to implement, Finance Code §92.051(a)(2). 7 TAC §76.92 is further adopted under the authority of, and to implement, Finance Code §92.063. 7 TAC §76.97 is further adopted under the authority of, and to implement, Finance Code §93.004(b). 7 TAC §76.107 is further adopted under the authority of, and to implement, Finance Code §97.001.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
§76.94.Fee for Change of Name or of Location.
Applicants for change of name or change of location of any branch office, approved or existing, must pay a fee of $500. In addition, the applicants must pay any cost incurred by the Department in connection with the hearing, investigation and travel expenses.
§76.109.Fee for Protest Filing.
A person or entity filing a protest to an application must pay a fee of $2,500 simultaneously with such protest filing. The purpose of this fee is to partially offset the Department's increased cost of processing an application and reduce costs incurred by the applicant that result solely from the protest.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 24, 2021.
TRD-202100791
Iain A. Berry
Associate General Counsel
Department of Saving and Mortgage Lending
Effective date: March 16, 2021
Proposal publication date: January 8, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The adopted repeals are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 24, 2021.
TRD-202100792
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 16, 2021
Proposal publication date: January 8, 2021
For further information, please call: (512) 475-1535
Statutory Authority
The adopted rules are adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rules are also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §76.122 is adopted under the authority of, and to implement, Finance Code: §96.002(a), for those specific subject matters outlined in paragraph (11) of that subsection; §96.054; and Chapter 96, Subchapter C.
The adopted rules affect the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 24, 2021.
TRD-202100793
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 16, 2021
Proposal publication date: January 8, 2021
For further information, please call: (512) 475-1535
SUBCHAPTER A. AUTHORIZED LOANS AND INVESTMENTS
The Finance Commission of Texas (commission), on behalf of the Department of Savings and Mortgage Lending (department), adopts amendments to existing 7 TAC §77.10, without changes to the text as published in the January 8, 2021, issue of the Texas Register (46 TexReg 251). The rule will not be republished.
Explanation of and Justification for the Rule
Existing 7 TAC §77.10 partially implements Finance Code Subtitle C, the Texas Savings Bank Act, and specifically §94.002 of such act. The adopted rule was identified during the department's periodic review of 7 TAC Chapter 77, conducted pursuant to Government Code, §2001.039.
Existing §77.10, concerning Non-Real Estate Commercial Loans, determines the circumstances under which a savings bank may engage in commercial real estate loans, and the requirements for such loans. The amended rule clarifies within the text of the rule that the rule pertains only to commercial loans.
Summary of Public Comments
Publication of the commission's proposal for the rule amendments recited a deadline of 30 days to receive public comments, or February 7, 2021. A public hearing in accordance with Government Code §2001.029 was not required. No comments were received.
Statutory Authority
The adopted rule is adopted under the authority of Finance Code §11.302(a), which authorizes the commission to adopt rules applicable to state savings banks. The adopted rule is also adopted under the authority of Finance Code §96.002(a), which authorizes the commission to adopt rules necessary to supervise and regulate Texas-chartered savings banks and to protect public investment in Texas-chartered savings banks. 7 TAC §77.10 is also adopted under the authority of, and to implement Finance Code §94.002.
The adopted rule affects the statutes contained in Finance Code Subtitle C, the Texas State Savings Bank Act.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 23, 2021.
TRD-202100757
Iain A. Berry
Associate General Counsel
Department of Savings and Mortgage Lending
Effective date: March 15, 2021
Proposal publication date: January 8, 2021
For further information, please call: (512) 475-1535