Texas § 651.053 ENTITLEMENT OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS TO LICENSE.

Texas Statutes

§ 651.053 — ENTITLEMENT OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS TO LICENSE.

Texas § 651.053

Code INInsurance Code

This text of Texas § 651.053 (ENTITLEMENT OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS TO LICENSE.) 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. Insurance Code Code Ann. § 651.053 (2026).

Text

Sec. 651.053. ENTITLEMENT OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS TO LICENSE.

(a)A bank or a savings and loan association is entitled to receive a license under this subchapter if the bank or savings and loan association:

(1)is engaging in business under the laws of this state or the United States; and

(2)notifies the department of its intention to operate under this chapter.

(b)On receipt of notice under Subsection (a)(2), the department shall immediately issue a license to the bank or savings and loan association.

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Sec. 651.053. ENTITLEMENT OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS TO LICENSE. (a) A bank or a savings and loan association is entitled to receive a license under this subchapter if the bank or savings and loan association:
(1) is engaging in business under the laws of this state or the United States; and
(2) notifies the department of its intention to operate under this chapter.
(b) On receipt of notice under Subsection (a)(2), the department shall immediately issue a license to the bank or savings and loan association.