By: Toth H.B. No. 5252
A BILL TO BE ENTITLED
AN ACT
relating to prohibiting discrimination by financial institutions
against lawful companies and businesses in the oil and gas
industry.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Finance Code, Title 3, Subtitle Z, is amended by
adding Chapter 283 to read as follows:
CHAPTER 283. DISCRIMINATION AGAINST Oil AND GAS
Sec. 282.001. DISCRIMINATION AGAINST LAWFUL OIL AND GAS
COMPANIES PROHIBITED. (a) A financial institution as defined by
Section 201.101 is prohibited from discriminating against lawful
oil and gas industry companies or businesses based solely upon such
a company’s or a business’s engagement in the commerce subject
matter of oil and gas.
(b) The banking commissioner shall administer and enforce
this law, and per Finance Code Section 31.101, bring to bear all
administrative remedies, including the de-charter of a financial
institution found to be in violation of this section.
SECTION 2. This Act takes effect September 1, 2023.