Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 96.101 - Intervention for Violations and Unsafe and Unsound Practices(a) The commissioner may intervene in the affairs of a savings bank if the savings bank or a person who participates in the affairs of the savings bank or a subsidiary or holding company of the savings bank:(1) engages in or is about to engage in an unsafe and unsound practice in conducting the affairs of the savings bank; or(2) violates or is about to violate: (A) the articles of incorporation or bylaws of the savings bank;(B) a law or supervisory order applicable to the savings bank; or(C) a condition that the commissioner or the finance commission has imposed on the savings bank by written order, directive, or agreement.(b) The commissioner may intervene in the affairs of a savings bank if a person who participates in the affairs of the savings bank or a subsidiary or holding company of the savings bank violates or is about to violate an order or instruction of the commissioner or a conservator or supervisor in charge of the savings bank's affairs. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.