FINANCE CODE

CHAPTER 97. HOLDING COMPANIES


	§ 97.001.  RULES.  (a)  The finance commission shall 
adopt rules:         
		(1)  providing for the registration of and reporting by 
holding companies;  
		(2)  setting limitations on the activities and 
investments of holding companies;  and
		(3)  concerning other matters as appropriate under this 
chapter.            
	(b)  The finance commission may adopt rules governing 
transactions between a subsidiary savings bank of a holding company 
and an affiliate of the subsidiary.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.  Amended 
by Acts 2001, 77th Leg., ch. 867, § 63, eff. Sept. 1, 2001.


	§ 97.002.  REGISTRATION.  (a)  A holding company shall 
register with the commissioner, on a form prescribed by the 
commissioner, not later than the 90th day after the date the company 
becomes a holding company.
	(b)  The registration must include information, including 
information on related matters the commissioner determines is 
necessary and appropriate, regarding the holding company's and its 
subsidiaries':
		(1)  financial condition;                                                     
		(2)  ownership;                                                               
		(3)  operations;                                                              
		(4)  management;  and                                                         
		(5)  intercompany relations.                                                  
	(c)  The commissioner may require the registration to be 
under oath.         
	(d)  On application, the commissioner may extend the time 
limit under Subsection (a).

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.                   


	§ 97.003.  RELEASE FROM REGISTRATION.  The commissioner, 
on the commissioner's own motion or on application, may release a 
registered holding company from the registration if the 
commissioner determines that the company no longer controls a 
savings bank.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.                   


	§ 97.004.  REPORTS.  (a)  Each holding company and each 
subsidiary of a holding company, other than a savings bank, shall 
file with the commissioner reports required by the commissioner.
	(b)  Each report must:                                                         
		(1)  be made under oath;                                                      
		(2)  be in the form and for the period prescribed by the 
commissioner;  and 
		(3)  contain information concerning the operations of 
the holding company and its subsidiaries as required by the 
commissioner.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.                   


	§ 97.005.  BOOKS AND RECORDS.  Each holding company shall 
maintain books and records as required by the commissioner.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.                   


	§ 97.006.  EXAMINATIONS.  (a)  The commissioner may 
require an examination of a holding company and each subsidiary of a 
holding company.
	(b)  The holding company shall pay the cost of an 
examination.               
	(c)  The confidentiality provisions of Subchapter H, Chapter 
96, apply to this section.
	(d)  The commissioner may furnish examination and other 
reports to any appropriate governmental department, agency, or 
instrumentality of this state, another state, or the United States.
	(e)  For purposes of this section, the commissioner, if 
feasible, may use reports filed with or examinations made by 
appropriate federal agencies or regulatory authorities of other 
states.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.                   


	§ 97.007.  AGENT FOR SERVICE OF PROCESS.  The 
commissioner may require a holding company or a person, other than a 
corporation, connected with a holding company to execute and file 
an irrevocable appointment of agent for service of process on a form 
prescribed by the commissioner.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.