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A BILL TO BE ENTITLED
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AN ACT
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relating to service of process on financial institutions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 17, Civil Practice and |
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Remedies Code, is amended by adding Section 17.028 to read as |
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follows: |
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Sec. 17.028. SERVICE ON FINANCIAL INSTITUTIONS. (a) In |
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this section, "financial institution" has the meaning assigned by |
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Section 201.101, Finance Code. |
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(b) Except as provided by Subsection (c), in an action |
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against a financial institution, citation may be served by: |
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(1) serving the registered agent of the financial |
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institution; or |
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(2) if the financial institution does not have a |
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registered agent, serving the president or a branch manager at any |
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office located in this state. |
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(c) In an action against a credit union organized under the |
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laws of this state, another state, or federal law, citation may be |
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served by: |
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(1) serving the registered agent of the credit union; |
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or |
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(2) if the credit union does not have a registered |
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agent, serving the president or vice president. |
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(d) If citation has not been properly served as provided by |
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this section, a financial institution may maintain an action to set |
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aside the default judgment or any sanctions entered against the |
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financial institution. |
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SECTION 2. Section 32.202(a), Finance Code, is amended to |
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read as follows: |
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(a) Each state bank must have and continuously maintain in |
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this state a home office. The home office must be a location at |
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which the bank does business with the public and keeps its corporate |
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books and records. At least one officer of the bank must maintain |
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an office at the home office. [In addition to the registered agent
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for the bank, if one is maintained pursuant to Section 201.103, each
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officer at the home office is an agent for service of process for
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the bank.] |
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SECTION 3. Section 182.202(b), Finance Code, is repealed. |
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SECTION 4. This Act applies to all process served on a |
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financial institution on or after the effective date of this Act, |
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without regard to whether the process was issued before, on, or |
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after that date. |
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SECTION 5. This Act takes effect September 1, 2007. |