Texas § 126.051 EXAMINATIONS.

Texas Statutes

§ 126.051 — EXAMINATIONS.

Texas § 126.051

Code FIFinance Code

This text of Texas § 126.051 (EXAMINATIONS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 126.051 (2026).

Text

Sec. 126.051. EXAMINATIONS.

(a)The department, through examiners it appoints and in accordance with commission rules, shall periodically examine the books and records of each credit union.

(b)In lieu of an examination under this section, the commissioner may accept:

(1)the examination report of a regulator authorized to examine a credit union, foreign credit union, federal credit union, or other financial institution; or

(2)the audit report of an accountant, satisfactory to the commissioner, who has made and submitted a report of the condition of the affairs of a credit union, foreign credit union, federal credit union, or other financial institution.

(c)The commissioner may accept all or part of a report in lieu of all or part of an examination. An accepted part of the report has the

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 126.051. EXAMINATIONS. (a) The department, through examiners it appoints and in accordance with commission rules, shall periodically examine the books and records of each credit union.
(b) In lieu of an examination under this section, the commissioner may accept:
(1) the examination report of a regulator authorized to examine a credit union, foreign credit union, federal credit union, or other financial institution; or
(2) the audit report of an accountant, satisfactory to the commissioner, who has made and submitted a report of the condition of the affairs of a credit union, foreign credit union, federal credit union, or other financial institution.
(c) The commissioner may accept all or part of a report in lieu of all or part of an examination. An accepted part of the report has the same validity as an examination under this section.