1-1                                   AN ACT

 1-2     relating to the merger, consolidation, or conversion of a federal

 1-3     savings bank or savings association into a domestic or foreign

 1-4     savings bank or savings association.

 1-5           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-6           SECTION 1.  Section 1.03(13), Texas Savings Bank Act (Article

 1-7     489e, Vernon's Texas Civil Statutes), is amended to read as

 1-8     follows:

 1-9                 (13)  "Federal savings bank" means a savings bank

1-10     incorporated under the laws of the United States [whose principal

1-11     business office is located in this state].

1-12           SECTION 2.  Section 11.06, Texas Savings Bank Act (Article

1-13     489e, Vernon's Texas Civil Statutes), is amended to read as

1-14     follows:

1-15           Sec. 11.06.  FEDERAL SAVINGS BANKS.  (a)  A federal savings

1-16     bank is not a foreign corporation or foreign savings bank.  Unless

1-17     federal laws or regulations provide otherwise, a federal savings

1-18     bank and the members of a federal savings bank have all of the

1-19     rights, powers, privileges, benefits, immunities, and exemptions

1-20     that are provided by this Act and other laws of this state relating

1-21     to a savings bank or its members.  This provision is in addition to

1-22     and supplemental to any provision of this Act which by specific

1-23     reference is applicable to a federal savings bank and its members.

1-24           (b)  A federal savings bank that has been merged,

 2-1     consolidated, or converted into a domestic or foreign savings bank

 2-2     or association is entitled to retain any duly authorized offices

 2-3     under the terms provided for a foreign savings bank under Section

 2-4     11.07 of this Act.

 2-5           SECTION 3.  Section 1.03(9), Texas Savings and Loan Act

 2-6     (Article 852a, Vernon's Texas Civil Statutes), is amended to read

 2-7     as follows:

 2-8                 (9)  "Federal association" means a savings and loan

 2-9     association incorporated under the Home Owner's Loan Act of 1933[,

2-10     whose principal business office is located in this state].

2-11           SECTION 4.  Chapter 10, Texas Savings and Loan Act (Article

2-12     852a, Vernon's Texas Civil Statutes), is amended by adding Section

2-13     10.05 to read as follows:

2-14           Sec. 10.05.  FEDERAL ASSOCIATIONS.  A federal association

2-15     that has been merged, consolidated, or converted into a domestic or

2-16     foreign savings bank or association is entitled to retain any duly

2-17     authorized offices under the terms provided for a foreign savings

2-18     bank under Section 11.07, Texas Savings Bank Act (Article 489e,

2-19     Vernon's Texas Civil Statutes).

2-20           SECTION 5.  The importance of this legislation and the

2-21     crowded condition of the calendars in both houses create an

2-22     emergency and an imperative public necessity that the

2-23     constitutional rule requiring bills to be read on three several

2-24     days in each house be suspended, and this rule is hereby suspended,

2-25     and that this Act take effect and be in force from and after its

2-26     passage, and it is so enacted.

         _______________________________     _______________________________

             President of the Senate              Speaker of the House

               I certify that H.B. No. 3077 was passed by the House on April

         25, 1997, by a non-record vote.

                                             _______________________________

                                                 Chief Clerk of the House

               I certify that H.B. No. 3077 was passed by the Senate on May

         26, 1997, by the following vote:  Yeas 31, Nays 0.

                                             _______________________________

                                                 Secretary of the Senate

         APPROVED:  _____________________

                            Date

                    _____________________

                          Governor