Tex. Fin. Code Section 98.101
Powers of Foreign Savings Bank; Eligibility of Accounts for Investment

(a)

A foreign savings bank operating under a certificate of authority issued under Subchapter I, Chapter 92 (Organizational and Financial Requirements), has the rights and privileges of a savings bank created under this subtitle. The savings bank’s deposit accounts are eligible for investment to the same extent as those of a domestic savings bank.

(b)

A foreign savings bank may not be considered a savings bank organized under the laws of this state.

(c)

A foreign savings bank operating in this state under this chapter may not exercise a power, perform a function, or offer a service that a domestic savings bank may not exercise, perform, or offer.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 98.101 — Powers of Foreign Savings Bank; Eligibility of Accounts for Investment, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­98.­htm#98.­101 (accessed May 11, 2024).

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Accessed:
May 11, 2024

§ 98.101’s source at texas​.gov