119.002 – APPLICABILITY OF SAVINGS AND LOAN LAWS TO SAVINGS
Texas Finance Code § 119.002
Summary
This law clarifies that savings banks are subject to the same regulations as other financial organizations in Texas, unless specifically exempted. It ensures consistency in the application of financial laws across different types of institutions.
Savings banks follow the same laws as other financial organizations.
Certain chapters and subtitles are exempt from this application.
Promotes regulatory uniformity among financial institutions in Texas.
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In simple terms: Learn about Texas's APPLICABILITY OF SAVINGS AND LOAN LAWS TO SAVINGS law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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