Texas § 31.005 IMPLYING THAT PERSON IS BANK.

Texas Statutes

§ 31.005 — IMPLYING THAT PERSON IS BANK.

Texas § 31.005

Code FIFinance Code

This text of Texas § 31.005 (IMPLYING THAT PERSON IS BANK.) 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. § 31.005 (2026).

Text

Sec. 31.005. IMPLYING THAT PERSON IS BANK.

(a)A person may not use the term "bank," "bank and trust," or a similar term or a character, ideogram, phonogram, phrase, or foreign language word in its name, stationery, or advertising in a manner that would imply to the public that the person is engaged in the business of banking in this state.

(b)Subsection (a) does not apply to a federally insured depository institution organized under the laws of this state, another state, the United States, or a foreign sovereign state to the extent that the depository institution or other entity is:

(1)authorized under its charter or the laws of this state or the United States to use a term, word, character, ideogram, phonogram, or phrase prohibited by Subsection (a); and

(2)authorized by the laws of t

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

Sec. 31.005. IMPLYING THAT PERSON IS BANK. (a) A person may not use the term "bank," "bank and trust," or a similar term or a character, ideogram, phonogram, phrase, or foreign language word in its name, stationery, or advertising in a manner that would imply to the public that the person is engaged in the business of banking in this state.
(b) Subsection (a) does not apply to a federally insured depository institution organized under the laws of this state, another state, the United States, or a foreign sovereign state to the extent that the depository institution or other entity is:
(1) authorized under its charter or the laws of this state or the United States to use a term, word, character, ideogram, phonogram, or phrase prohibited by Subsection (a); and
(2) authorized by the laws of this state or the United States to conduct the activities in which it is engaged in this state.
(c) A person violating this section is subject to an enforcement action initiated by the banking commissioner under Subchapter C , Chapter 35 , except that the maximum administrative penalty under Section 35.211 for violation involving only Subsection (a) is $500 for each day the violation continues.

Legislative History

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.003, eff. Sept. 1, 1999. Amended by: Acts 2023, 88th Leg., R.S., Ch. 989 (H.B. 3574 ), Sec. 2, eff. June 18, 2023.