| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to an increase of certain credit unions' assets. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter C, Chapter 122, Finance Code, is |
|
|
amended by adding Section 122.108 to read as follows: |
|
|
Sec. 122.108. ASSET LIMIT INCREASE. (a) A credit union |
|
|
chartered in this state that is considered a small entity according |
|
|
to the National Credit Union Administration's Rules and Regulations |
|
|
may increase its assets from $10 million or less to: |
|
|
(1) $25 million or less on January 1, 2015; |
|
|
(2) $40 million or less on January 1, 2018; and |
|
|
(3) $50 million or less on January 1, 2019. |
|
|
(b) This section expires January 1, 2020. |
|
|
SECTION 2. This Act takes effect September 1, 2013. |