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A BILL TO BE ENTITLED
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AN ACT
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relating to the powers of the Credit Union Commission. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 15.402(b-1), Finance Code, is amended to |
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read as follows: |
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(b-1) In adopting rules under this section, the commission |
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shall consider the need to: |
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(1) promote a stable credit union environment; |
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(2) provide credit union members with convenient, |
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safe, and competitive services; |
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(3) preserve and promote the competitive parity of |
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credit unions with regard to other depository institutions |
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consistent with the safety and soundness of credit unions; [and] |
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(4) promote or encourage economic development in this |
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state; and |
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(5) promote or encourage credit unions to make |
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low-cost, short-term consumer loans available to the public. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |