By Oliveira H.B. No. 3078
75R5994 CLG-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to an incorporation requirement of a state savings bank.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 2.03, Texas Savings Bank Act (Article
1-5 489e, Vernon's Texas Civil Statutes), is amended to read as
1-6 follows:
1-7 Sec. 2.03. STATUS AS [INTERNAL REVENUE SERVICE] THRIFT
1-8 INSTITUTION. (a) A savings bank must qualify for and maintain:
1-9 (1) the asset test of Section 7701(a)(19) of the
1-10 Internal Revenue Code of 1986 (26 U.S.C. Section 7701(a)(19)); or
1-11 (2) the qualified thrift lender test of Section 10(m)
1-12 of the Home Owners' Loan Act (12 U.S.C. Section 1467a(m)).
1-13 (b) The commissioner may grant temporary or limited
1-14 exceptions to the requirements of this section as the commissioner
1-15 considers necessary.
1-16 SECTION 2. The importance of this legislation and the
1-17 crowded condition of the calendars in both houses create an
1-18 emergency and an imperative public necessity that the
1-19 constitutional rule requiring bills to be read on three several
1-20 days in each house be suspended, and this rule is hereby suspended,
1-21 and that this Act take effect and be in force from and after its
1-22 passage, and it is so enacted.