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House Bill 944 |
House Author: Solomons et al. |
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Effective: 5-25-07 |
Senate Sponsor: Fraser |
House Bill 944 amends the Finance Code to prohibit a state bank or a depository institution other than a savings bank from maintaining a branch in this state on the premises or property of an affiliate of that financial institution if the affiliate engages in a commercial activity not permitted under federal law for a bank holding company, financial holding company, national bank, or national bank financial subsidiary. The bill prohibits a savings bank from establishing or maintaining a branch on the premises or property of an affiliate if the affiliate engages in a commercial activity not permitted for a state savings bank or a subsidiary of such a bank.