84R8639 CLG-F | ||
By: Eltife | S.B. No. 657 |
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relating to the appointment of the commissioners of certain | ||
financial regulatory agencies by the Finance Commission of Texas. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 12.101(a), Finance Code, is amended to | ||
read as follows: | ||
(a) The banking commissioner is the chief executive officer | ||
of the Texas Department of Banking. The finance commission[ |
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commissioner. The banking commissioner serves at the will of the | ||
finance commission and is subject to the finance commission's | ||
orders and directions. | ||
SECTION 2. Section 13.002(a), Finance Code, is amended to | ||
read as follows: | ||
(a) The savings and mortgage lending commissioner is the | ||
chief executive officer of the Department of Savings and Mortgage | ||
Lending. The finance commission[ |
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commissioner. The savings and mortgage lending commissioner | ||
serves at the will of the finance commission and is subject to the | ||
finance commission's orders and direction. | ||
SECTION 3. (a) The change in law made by this Act to Section | ||
12.101(a), Finance Code, applies only to the appointment of the | ||
banking commissioner on or after the effective date of this Act. A | ||
banking commissioner appointed before the effective date of this | ||
Act is governed by the law as it existed immediately before that | ||
date, and that law is continued in effect for that purpose. | ||
(b) The change in law made by this Act to Section 13.002(a), | ||
Finance Code, applies only to the appointment of the savings and | ||
mortgage lending commissioner on or after the effective date of | ||
this Act. A savings and mortgage lending commissioner appointed | ||
before the effective date of this Act is governed by the law as it | ||
existed immediately before that date, and that law is continued in | ||
effect for that purpose. | ||
SECTION 4. This Act takes effect September 1, 2015. |