Texas § 122.005 PROCEDURE FOR CERTAIN APPROVALS.

Texas Statutes

§ 122.005 — PROCEDURE FOR CERTAIN APPROVALS.

Texas § 122.005

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 122.005 (2026).

Text

Sec. 122.005. PROCEDURE FOR CERTAIN APPROVALS.

(a)This section applies to a request for approval by the commissioner of:

(1)an application for incorporation under this subchapter;

(2)a request for approval of an amendment to a credit union's articles of incorporation under Section 122.011 , including an amendment to expand the credit union's field of membership; and

(3)a merger or consolidation under Subchapter D.

(b)Before approving a request to which this section applies, the commissioner shall submit notice of the request to the secretary of state for publication in the Texas Register. The commission by rule shall provide for other appropriate public notice of the request. The commissioner may waive the requirements of this subsection or permit delayed public notice on a determinat

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Sec. 122.005. PROCEDURE FOR CERTAIN APPROVALS. (a) This section applies to a request for approval by the commissioner of:
(1) an application for incorporation under this subchapter;
(2) a request for approval of an amendment to a credit union's articles of incorporation under Section 122.011 , including an amendment to expand the credit union's field of membership; and
(3) a merger or consolidation under Subchapter D.
(b) Before approving a request to which this section applies, the commissioner shall submit notice of the request to the secretary of state for publication in the Texas Register. The commission by rule shall provide for other appropriate public notice of the request. The commissioner may waive the requirements of this subsection or permit delayed public notice on a determination that waiver or delay is in the public interest. If the requirements of this subsection are waived, the information that would be contained in a public notice becomes public information under Chapter 552 , Government Code, on the 35th day after the date the request is made.
(c) Before making a determination on a request to which this section applies, the commissioner must accept comment from any interested party that wishes to comment. This comment may be in the form of written testimony or may be provided at a meeting with the commissioner held for the purpose of receiving the comment. This meeting shall be held if requested by any interested party. The commissioner may hold the meeting regardless of whether an interested party requests the meeting. The commission may establish reasonable rules governing the circumstances and conduct of the meeting. Chapter 2001 , Government Code, does not apply to the meeting. Not later than the 60th day after the date the notice is published in the Texas Register, or if the notice is not published, after the date the request is received, the commissioner shall approve or disapprove the application.