SRC-AMY S.B. 1666 78(R)    BILL ANALYSIS


Senate Research CenterS.B. 1666
By: Averitt
Business & Commerce
6/18/2003
Enrolled

DIGEST AND PURPOSE 

Currently, the definition of financial institution in the State Savings
Bank Act includes a state or federal savings bank, state or federal
savings and loan association, or state or national bank.  S.B. 1666
conforms the definition of financial institution to Section 201.101
(Definitions), Finance Code, causing the parity and merger/conversion
provisions contained in the State Savings Bank Act to conform to those
provisions applicable to other types of state depository institutions. 

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to
a state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 91.002(14), Finance Code, to redefine
"financial institution." 

SECTION 2.  Effective date: September 1, 2003.