FOREIGN FINANCIAL INSTITUTIONS

Tex. FIN Code ch. 67
in effect

Tex. FIN Code § 67.001. LIMITATION ON RIGHT TO DO BUSINESS AS SAVINGS AND LOAN ASSOCIATION.

(a) A person may not do business as a savings and loan association in this state or maintain an office in this state for the purpose of doing business unless the person is a: (1) domestic association; (2) federal association; or (3) foreign association that holds a certificate of authority issued under Subchapter I , Chapter 62 , or Section 61 , Chapter 61 , General Laws, Acts of the 41st Legislature, 2nd Called Session, 1929 (Article 881a-60, Vernon's Texas Civil Statutes). (b) Subsection (a) does not prohibit activity that is not considered to be transacting business in this state under Section B, Article 8.01, Texas Business Corporation Act.

Tex. FIN Code § 67.002. APPLICATION OF LAW AND RULES.

This subtitle and each rule adopted under this subtitle apply to the operations in this state of a foreign association and may be enforced by the commissioner.

Tex. FIN Code § 67.003. CONTRACTS CONSTRUED UNDER LAW OF THIS STATE.

A contract between a foreign association and a resident of this state is governed by the laws of this state.

Tex. FIN Code § 67.004. FEDERAL ASSOCIATIONS.

A federal association is not a foreign corporation or foreign association for purposes of this subtitle. SUBCHAPTER B. POWERS OF FOREIGN ASSOCIATION; ELIGIBILITY OF ACCOUNTS FOR INVESTMENT

Tex. FIN Code § 67.101. POWERS OF FOREIGN ASSOCIATION; ELIGIBILITY OF ACCOUNTS FOR INVESTMENT.

(a) A foreign association operating under a certificate of authority has the rights and privileges of an association created under this subtitle. The association's accounts are eligible for investment to the same extent as those of a domestic association. (b) A foreign association may not be considered an association organized under the laws of this state. (c) A foreign association operating in this state under this chapter may not exercise a power, perform a function, or offer a service that a domestic association may not exercise, perform, or offer. SUBCHAPTER C. CERTIFICATE OF AUTHORITY

Tex. FIN Code § 67.201. RENEWAL OF CERTIFICATE.

A foreign association may renew a certificate of authority by paying a renewal fee in January of each year. The finance commission by resolution shall set the fee annually.

Tex. FIN Code § 67.202. REVOCATION OF CERTIFICATE.

(a) The commissioner may revoke a foreign association's certificate of authority on the failure or refusal of the association to comply with a final order of the commissioner. (b) On revocation under Subsection (a), an agent of the association may not transact business in this state except to: (1) receive a payment to apply to an active loan contract; or (2) pay a withdrawal request. SUBCHAPTER D. EXAMINATION AND REGULATION

Tex. FIN Code § 67.302. EXAMINATION CHARGES.

A foreign association holding a certificate of authority shall pay: (1) an examination fee in the amount set for a domestic association under Section 61.007 ; (2) all travel expenses of the examination; and (3) the amount of the examination expense that exceeds the amount of the examination fee, if any.

Tex. FIN Code § 67.303. AGREEMENT WITH REGULATORY AUTHORITY OF OTHER STATE.

(a) The commissioner, in exercising the supervisory and regulatory authority granted under Chapter 66 , may enter into a cooperative agreement with a regulatory authority of another state to facilitate regulation of a foreign association doing business in this state. (b) The commissioner may accept a report of examination and other records from the regulatory authority of the other state instead of conducting an examination outside this state.

Tex. FIN Code § 67.304. COMMISSIONER'S AUTHORITY TO ISSUE ORDERS.

The commissioner may issue an order against a foreign association holding a certificate of authority in the same manner provided by Chapter 66 for issuance of an order against a domestic association.
Source: TX Statutes (Official Site)URL: https://statutes.capitol.texas.gov/Fetched: 6/29/2026