Sec. 279.055. DETERMINATION BY FINANCE COMMISSION. (a) Not later than the 120th day after the date an application for the designation of a banking development district is submitted under Section 279.053, the finance commission shall make a determination regarding whether to approve the application.
(b) If the finance commission approves the application, the finance commission shall notify the:
(1) local government;
(2) financial institution;
(3) comptroller;
(4) Texas Economic Development and Tourism Office;
(5) lieutenant governor; and
(6) speaker of the house of representatives.
Added by Acts 2015, 84th Leg., R.S., Ch. 967 (H.B. 1626), Sec. 1, eff. September 1, 2015.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses
Chapter 279 - Banking and Credit Union Development Districts
Subchapter B. Banking Development Districts
Section 279.051. Administration of Program
Section 279.053. Application for Designation of Banking Development District
Section 279.054. Application by Financial Institution to Open Branch in District