122.013 – FOREIGN CREDIT UNIONS. (a) A foreign credit
Texas Finance Code § 122.013
Summary
This law allows foreign credit unions to operate in Texas if their home state or country permits Texas credit unions to do the same. It also subjects these foreign credit unions to Texas regulations and oversight, ensuring compliance with local rules.
Foreign credit unions can operate if reciprocally allowed by their home jurisdiction.
Subject to Texas regulations and additional commission requirements.
Authority to operate can be suspended or revoked by the commissioner.
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In simple terms: Learn about Texas's FOREIGN CREDIT UNIONS. (a) A foreign credit 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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