Sec. 651.053. ENTITLEMENT OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS TO LICENSE. (a) A bank or a savings and loan association is entitled to receive a license under this subchapter if the bank or savings and loan association:
(1) is engaging in business under the laws of this state or the United States; and
(2) notifies the department of its intention to operate under this chapter.
(b) On receipt of notice under Subsection (a)(2), the department shall immediately issue a license to the bank or savings and loan association.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
Structure Texas Statutes
Title 5 - Protection of Consumer Interests
Subtitle E - Premium Financing
Chapter 651 - Financing of Insurance Premiums
Subchapter B. Authority to Engage in Business
Section 651.051. License Required
Section 651.053. Entitlement of Banks and Savings and Loan Associations to License
Section 651.054. Application for License; Investigation Fee; Exemption
Section 651.055. Refusal to Issue License
Section 651.056. Notice of Action on Application
Section 651.057. Issuance of License
Section 651.058. Reciprocal License
Section 651.059. Issuance of Multiple Licenses
Section 651.060. Single Business Location Authorized by License
Section 651.061. Appearance of License; Posting
Section 651.062. Transfer or Assignment of License Prohibited
Section 651.063. Term of License