Texas 2025 - 89th Regular

Texas House Bill HB3804 Compare Versions

Version 1 (Old)

Version 2 (New)

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1	1	89R11752 MLH-F
2	2	By: Lambert H.B. No. 3804
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7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to the regulation of state banks.
10	10	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Section 31.002(a)(15), Finance Code, is amended
12	12	to read as follows:
13	13	(15) "Deposit" means the establishment of a
14	14	debtor-creditor relationship represented by the agreement of the
15	15	deposit debtor to act as a holding, paying, or disbursing agent for
16	16	the deposit creditor. The term:
17	17	(A) includes:
18	18	(i) an unpaid balance of money that is
19	19	received by the deposit debtor in the usual course of business in
20	20	exchange for conditional or unconditional credit to a commercial,
21	21	checking, savings, or time account of the deposit creditor or the
22	22	creditor's designee, or that is evidenced by a certificate of
23	23	deposit or similar instrument, a certified check or draft drawn
24	24	against a deposit account, or a letter of credit or traveler's check
25	25	on which the deposit debtor is primarily liable, but excluding an
26	26	obligation arising under Chapter 152 [151];
27	27	(ii) money or credit given for money
28	28	received by the deposit debtor in the usual course of business for a
29	29	special purpose, including money:
30	30	(a) held as escrow money, as security
31	31	for an obligation due to the deposit debtor or another person, or as
32	32	security for a loan;
33	33	(b) left with a deposit debtor by a
34	34	deposit creditor to meet maturing obligations that are not yet due;
35	35	and
36	36	(c) held by the deposit debtor to meet
37	37	an acceptance or letter of credit;
38	38	(iii) an outstanding draft, cashier's
39	39	check, money order, or other officer's check issued by the deposit
40	40	debtor in the usual course of business for any purpose, including
41	41	payment for services, dividends, or purchases; and
42	42	(iv) an obligation that the finance
43	43	commission by rule defines as a deposit liability, except that the
44	44	term may not include money received for immediate application to
45	45	reduction of an indebtedness; and
46	46	(B) does not include an obligation that this
47	47	subtitle or finance commission rule determines not to be a deposit
48	48	liability.
49	49	SECTION 2. Section 33.005, Finance Code, is amended to read
50	50	as follows:
51	51	Sec. 33.005. EXEMPTIONS. The following acquisitions are
52	52	exempt from Section 33.001:
53	53	(1) an acquisition of securities in connection with
54	54	the exercise of a security interest or otherwise in full or partial
55	55	satisfaction of a debt previously contracted for in good faith and
56	56	the acquiring person files written notice of acquisition with the
57	57	banking commissioner before the person votes the securities
58	58	acquired;
59	59	(2) unless the banking commissioner provides
60	60	otherwise in writing, an acquisition of voting securities in any
61	61	class or series by a controlling person who[:
62	62	[(A)] was identified as a controlling person of
63	63	the [in a] state bank in a prior application filed with and approved
64	64	by the banking commissioner and:[;]
65	65	(A) [(B)] has from the date of receipt of
66	66	approval under this subchapter continuously held power to vote 25
67	67	percent or more of any class of voting securities of the state bank;
68	68	or
69	69	(B) [(C)] is considered to have from the date of
70	70	receipt of approval under this subchapter continuously controlled
71	71	the state bank under Section 33.001(b);
72	72	(3) an acquisition or transfer by operation of law,
73	73	will, or intestate succession and the acquiring person files
74	74	written notice of acquisition with the banking commissioner before
75	75	the person votes the securities acquired;
76	76	(4) a transaction subject to Chapter 202 if:
77	77	(A) the acquiring bank holding company currently
78	78	owns and controls a state bank; or
79	79	(B) the post-transaction controlling person is
80	80	identified as the controlling person in a merger or other
81	81	acquisition-related application filed with the banking
82	82	commissioner concurrently with the submission required by Section
83	83	202.001; and
84	84	(5) a transaction exempted by the banking commissioner
85	85	or by rules adopted under this subtitle because the transaction is
86	86	not within the purposes of this subchapter or the regulation of the
87	87	transaction is not necessary or appropriate to achieve the
88	88	objectives of this subchapter.
89	89	SECTION 3. Section 35.106, Finance Code, is amended to read
90	90	as follows:
91	91	Sec. 35.106. AUTHORITY OF SUPERVISOR. During a period of
92	92	supervision, a bank, without the prior approval of the banking
93	93	commissioner or the supervisor or as otherwise permitted or
94	94	restricted by the order of supervision, may not:
95	95	(1) dispose of, sell, transfer, convey, or encumber
96	96	the bank's assets;
97	97	(2) lend or invest the bank's money;
98	98	(3) incur a debt, obligation, or liability;
99	99	(4) pay a [cash] dividend to the bank's shareholders;
100	100	(5) remove an executive officer or director, change
101	101	the number of executive officers or directors, or have any other
102	102	change in the position of executive officer or director; or
103	103	(6) engage in any other activity determined by the
104	104	banking commissioner to threaten the safety and soundness of the
105	105	bank.
106	106	SECTION 4. This Act takes effect immediately if it receives
107	107	a vote of two-thirds of all the members elected to each house, as
108	108	provided by Section 39, Article III, Texas Constitution. If this
109	109	Act does not receive the vote necessary for immediate effect, this
110	110	Act takes effect September 1, 2025.