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A BILL TO BE ENTITLED
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AN ACT
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relating to prohibiting discrimination by financial institutions |
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against lawful companies and businesses in the oil and gas |
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industry. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Finance Code, Title 3, Subtitle Z, is amended by |
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adding Chapter 283 to read as follows: |
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CHAPTER 283. DISCRIMINATION AGAINST Oil AND GAS |
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Sec. 282.001. DISCRIMINATION AGAINST LAWFUL OIL AND GAS |
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COMPANIES PROHIBITED. (a) A financial institution as defined by |
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Section 201.101 is prohibited from discriminating against lawful |
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oil and gas industry companies or businesses based solely upon such |
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a company’s or a business’s engagement in the commerce subject |
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matter of oil and gas. |
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(b) The banking commissioner shall administer and enforce |
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this law, and per Finance Code Section 31.101, bring to bear all |
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administrative remedies, including the de-charter of a financial |
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institution found to be in violation of this section. |
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SECTION 2. This Act takes effect September 1, 2023. |