Texas Finance Code 119.002 – Applicability of Savings and Loan Laws to Savings Banks
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(a) Except as provided by Subsection (b), a statute of this state or a rule adopted under the statute that applies to or exempts a corporation or other organization incorporated or organized under Subtitle B or an association as defined by § 61.002 also applies to or exempts a savings bank.
(b) Subsection (a) does not apply to Chapters 11-13, this subtitle, Subtitle A, Subtitle B, or the Penal Code.
Terms Used In Texas Finance Code 119.002
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Rule: includes regulation. See Texas Government Code 311.005
- Statute: A law passed by a legislature.