By Oliveira H.B. No. 3077 75R9033 CLG-F A BILL TO BE ENTITLED 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 11.06, Texas Savings Bank Act (Article 1-7 489e, Vernon's Texas Civil Statutes), is amended to read as 1-8 follows: 1-9 Sec. 11.06. FEDERAL SAVINGS BANKS. (a) A federal savings 1-10 bank is not a foreign corporation or foreign savings bank. Unless 1-11 federal laws or regulations provide otherwise, a federal savings 1-12 bank and the members of a federal savings bank have all of the 1-13 rights, powers, privileges, benefits, immunities, and exemptions 1-14 that are provided by this Act and other laws of this state relating 1-15 to a savings bank or its members. This provision is in addition to 1-16 and supplemental to any provision of this Act which by specific 1-17 reference is applicable to a federal savings bank and its members. 1-18 (b) A federal savings bank that has been merged, 1-19 consolidated, or converted into a domestic or foreign savings bank 1-20 or association: 1-21 (1) is entitled to retain an office in this state 1-22 under the terms provided for a foreign savings bank under Section 1-23 11.07 of this Act; and 1-24 (2) has all the rights, powers, privileges, benefits, 2-1 immunities, and exemptions that are provided by this Act and other 2-2 laws of this state relating to a savings bank or its members. 2-3 SECTION 2. Chapter 10, Texas Savings and Loan Act (Article 2-4 852a, Vernon's Texas Civil Statutes), is amended by adding Section 2-5 10.05 to read as follows: 2-6 Sec. 10.05. FEDERAL ASSOCIATIONS. A federal association 2-7 that has been merged, consolidated, or converted into a domestic or 2-8 foreign savings bank or association is entitled to retain an office 2-9 in this state under the terms provided for a foreign savings bank 2-10 under Section 11.07 of the Texas Savings Bank Act (Article 489e, 2-11 Vernon's Texas Civil Statutes). 2-12 SECTION 3. The importance of this legislation and the 2-13 crowded condition of the calendars in both houses create an 2-14 emergency and an imperative public necessity that the 2-15 constitutional rule requiring bills to be read on three several 2-16 days in each house be suspended, and this rule is hereby suspended, 2-17 and that this Act take effect and be in force from and after its 2-18 passage, and it is so enacted.