Texas Administrative Code

Texas Administrative Code

TITLE 7	BANKING AND SECURITIES
PART 6	CREDIT UNION DEPARTMENT
CHAPTER 91	CHARTERING, OPERATIONS, MERGERS, LIQUIDATIONS
SUBCHAPTER A	GENERAL RULES
RULE §91.104	Public Notice and Comment on Certain Applications

(a) Upon receipt of a complete application for authorization to be granted by the department, the commissioner shall cause notice of such application to be published in the Texas Register and the department newsletter. Notice shall be published in both publications at least 30 days prior to taking action on the request. The activities covered by this requirement are:

(1) an application for incorporation under Texas Finance Code §122.001;

(2) a request for an amendment to a credit union's articles of incorporation under Texas Finance Code §122.011;

(3) a request for an amendment to a credit union's bylaws for an expansion of its field of membership under Texas Finance Code §122.011;

(4) an application for merger or consolidation under Texas Finance Code §122.152;

(5) an application for conversion of a credit union's certificate of incorporation under §91.1007 of this chapter (relating to Conversion to a Mutual Savings Institution); and

(6) a request by a foreign credit union to do business in Texas under Texas Finance Code §122.013.

(b) The commissioner may waive or delay notice of applications under subsection (a) of this section when a waiver or delay is in the public interest. The commissioner shall consider the welfare and stability of the affected credit union(s) in determining the public interest. If the commissioner determines that delaying public notice is in the public interest, the notice of application shall be published in each publication at the earliest feasible time.

Source Note: The provisions of this §91.104 adopted to be effective May 10, 1998, 23 TexReg 4567; amended to be effective May 11, 2000, 25 TexReg 3943; amended to be effective November 8, 2009, 34 TexReg 7623