Texas Register, Volume 38, Number 35, Pages 5587-5800, August 30, 2013 Page: 5,615
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sions of the Finance Code, Chapter 201, Subchapter B (201.101 et
seq.), to establish a representative office in this state.
3.93. Deposit Production Offices.
(a) Engaging in deposit production activities. A Texas state
bank may, to the extent authorized by its board of directors, engage in
deposit production activities at a site other than the home office or a
branch of the bank, including establishing a deposit production office
(DPO) of the bank. A DPO may only solicit deposits, provide infor-
mation about deposit products, and assist persons in completing appli-
cation forms and related documents to open a deposit account. A DPO
is not a branch within the meaning of Finance Code, 31.002(a)(8),
so long as it does not engage the public in the business of banking as
defined by Finance Code, 31.002(a)(4), including making loans, re-
ceiving deposits, and paying withdrawals, drafts, or checks. All such
deposit or withdrawal activity must be performed by the state bank cus-
tomer in person at the home office or a branch, or by mail, electronic
transfer, or similar transfer method.
(b) Notification to the banking commissioner. Pursuant to Fi-
nance Code, 32.204(b), a Texas [A] state bank shall notify the bank-
ing commissioner in writing before the 31st day preceding the date of
establishment[ closing or relocation] of a DPO, except the banking
commissioner in the exercise of discretion may waive or shorten the
period [if the banking commissioner does not have a significant super-
visoery or regulatory eeneern regarding the bank or its DPO]. The writ-
ten notification [for establishment of a DPO] must include the physical
address of the DPO, a list of the specific activities to be performed at
the planned DPO, and other information which the banking commis-
sioner may reasonably request.
(c) Relocation or closure of a DPO. A Texas state bank which
seeks to relocate or close an established DPO shall notify the bank-
ing commissioner in writing before the fifth day preceding the date of
the planned relocation or closure of the DPO. The written notification
must include the physical address of the relocated or closed DPO, the
anticipated date for the closure or relocation of the DPO, and other in-
formation which the banking commissioner may reasonably request.
(d) Transactions with management and affiliates. A state bank
establishing a DPO involving the purchase or lease of personal or real
property from an officer, director, manager, managing participant, or
principal shareholder or participant of the bank or an affiliate of the
bank, must comply with the provisions of the Finance Code, 33.109,
and 3.22 of this title (relating to Sale or Lease Agreements with an
Officer, Director, or Principal Shareholder of the Bank or of an Affiliate
of the Bank).
(e) Out-of-state banks. A bank not domiciled or primarily lo-
cated in this state must comply with the provisions of the Finance Code,
Chapter 201, Subchapter B (201.101 et seq.), to establish a DPO in
this state.
( ompliance with other statutes GCompliance with the pro-
visions of this section does not relieve a state bank of the obligation to
comply with a other applic statutes and regulationsc ding
not limited to Finance Gode 3349 32009 and 32.040(b). A hank
other than a state bank must comply with Finance ode C chapter 2474
Subehapter 8 (g 201.01 et seq)
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal author-
ity to adopt.
Filed with the Office of the Secretary of State on August 16, 2013.
TRD-201303427A. Kaylene Ray
General Counsel
Texas Department of Banking
Proposed date of adoption: October 18, 2013
For further information, please call: (512) 475-1300
4, 4, 4SUBCHAPTER F.
ACCESS TO INFORMATION
7 TAC 3.111
The Finance Commission of Texas (the commission), on behalf
of the Texas Department of Banking (the department), proposes
to amend 3.111, concerning confidential information. The
amended rule is proposed to conform this section to recently
enacted legislation.
The laws regarding business organizations were significantly
modernized and integrated into a cohesive regulatory structure
through enactment of the Business Organizations Code several
years ago. The need for uniform and comprehensive terminol-
ogy that would apply to every type of business organization,
including corporations, limited liability companies, limited part-
nerships, and others, led to the introduction of a number of new
terms.
The 83rd Legislature recently enacted Senate Bill 804, effective
June 14, 2013, which amended the Finance Code to update and
conform language in certain provisions to synonymous terminol-
ogy and phrasing used in the Business Organizations Code.
The proposed amendments to 7 TAC 3.111 conform the termi-
nology used in the rule to that used in the Finance Code and
the Business Organizations Code. References to "articles of
merger," "articles of conversion," and "articles of amendment"
would change to "certificate of merger," "certificate of conver-
sion," and "certificate of amendment."
In addition, a citation to the title of 7 TAC 9.22 and a reference
to Finance Code, Chapter 31 are corrected.
Robert Bacon, Deputy Commissioner, Texas Department of
Banking, has determined that for the first five-year period the
proposed rule is in effect, there will be no fiscal implications
for state government or for local government as a result of
enforcing or administering the rule.
Mr. Bacon also has determined that, for each year of the first
five years the rule as proposed is in effect, the public benefit
anticipated as a result of enforcing the rule is updating terms
used in the rule for conformity with underlying source law.
For each year of the first five years that the rule will be in effect,
there will be no economic costs to persons required to comply
with the rule as proposed.
There will be no adverse economic effect on small businesses or
micro-businesses. There will be no difference in the cost of com-
pliance for small businesses as compared to large businesses.
To be considered, comments on the proposed amendments
must be submitted no later than 5:00 p.m. on September 30,
2013. Comments should be addressed to General Counsel,
Texas Department of Banking, Legal Division, 2601 North Lamar
Boulevard, Suite 300, Austin, Texas 78705-4294. Comments
may also be submitted by email to legal@dob.texas.gov.
The amendments are proposed under Finance Code, 31.003,
which authorizes the Finance Commission to adopt rules to ac-PROPOSED RULES August 30, 2013 38 TexReg 5615
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Texas. Secretary of State. Texas Register, Volume 38, Number 35, Pages 5587-5800, August 30, 2013, periodical, August 30, 2013; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth342086/m1/29/: accessed April 27, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.