| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 81R3734 KFF-D | |
| 2 | 2 | By: Villarreal H.B. No. 1124 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the powers of the Credit Union Commission. | |
| 8 | 8 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 9 | 9 | SECTION 1. Section 15.402(b-1), Finance Code, is amended to | |
| 10 | 10 | read as follows: | |
| 11 | 11 | (b-1) In adopting rules under this section, the commission | |
| 12 | 12 | shall consider the need to: | |
| 13 | 13 | (1) promote a stable credit union environment; | |
| 14 | 14 | (2) provide credit union members with convenient, | |
| 15 | 15 | safe, and competitive services; | |
| 16 | 16 | (3) preserve and promote the competitive parity of | |
| 17 | 17 | credit unions with regard to other depository institutions | |
| 18 | 18 | consistent with the safety and soundness of credit unions; [and] | |
| 19 | 19 | (4) promote or encourage economic development in this | |
| 20 | 20 | state; and | |
| 21 | 21 | (5) promote or encourage credit unions to make | |
| 22 | 22 | low-cost, short-term consumer loans available to the public. | |
| 23 | 23 | SECTION 2. This Act takes effect immediately if it receives | |
| 24 | 24 | a vote of two-thirds of all the members elected to each house, as | |
| 25 | 25 | provided by Section 39, Article III, Texas Constitution. If this | |
| 26 | 26 | Act does not receive the vote necessary for immediate effect, this | |
| 27 | 27 | Act takes effect September 1, 2009. |