By: Montford S.B. No. 1210
73R2474 LJD-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to judicial appeal of an order of the banking commissioner
1-3 denying the transfer of stock in a state bank.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section E, Article 1a, Chapter IV, The Texas
1-6 Banking Code (Article 342-401a, Vernon's Texas Civil Statutes), is
1-7 amended to read as follows:
1-8 E. If the Banking Commissioner issues an order denying an
1-9 application, the applicant is entitled to a hearing if the
1-10 applicant <he> requests one in writing no later than the thirtieth
1-11 (30th) day after the day the application is filed or the fifteenth
1-12 (15th) day after the day the application is denied, whichever date
1-13 is later. After hearing the matter, the Banking Commissioner
1-14 shall, within thirty (30) days, enter a final order either
1-15 affirming the <his> denial or withdrawing the <his> denial of the
1-16 application. An applicant may not appeal the Banking
1-17 Commissioner's denial of an application or order affirming the
1-18 <his> denial until a final order is entered. Any applicant herein
1-19 shall have the right to appeal such final order to the district
1-20 court of Travis County, Texas, and not elsewhere, against the
1-21 Banking Commissioner of Texas as defendant. The <action shall not
1-22 be limited to questions of law and the> substantial evidence rule
1-23 shall <not> apply<, but such action shall be tried and determined
1-24 upon a trial de novo to the same extent as now provided for in the
2-1 case of an appeal from the justice court to the county court.
2-2 Either party to said action may appeal to the appellate court
2-3 having jurisdiction of said cause and said appeal shall be at once
2-4 returnable to said appellate court having jurisdiction of said
2-5 cause and said action so appealed shall have precedence in said
2-6 appellate court over all causes of a different character therein
2-7 pending>. The Banking Commissioner shall not be required to give
2-8 any appeal bond in any cause arising hereunder. The filing of an
2-9 appeal pursuant to this Article shall not stay the order of the
2-10 Banking Commissioner adverse to the applicant.
2-11 SECTION 2. The change in law made by this Act applies to a
2-12 suit appealing an order of the banking commissioner that is
2-13 instituted on or after the effective date of this Act. A suit
2-14 appealing an order of the banking commissioner that was instituted
2-15 before the effective date of this Act is governed by the law in
2-16 effect when the suit was instituted, and the former law is
2-17 continued in effect for that purpose.
2-18 SECTION 3. The importance of this legislation and the
2-19 crowded condition of the calendars in both houses create an
2-20 emergency and an imperative public necessity that the
2-21 constitutional rule requiring bills to be read on three several
2-22 days in each house be suspended, and this rule is hereby suspended,
2-23 and that this Act take effect and be in force from and after its
2-24 passage, and it is so enacted.