Tex. Fin. Code Section 96.403
Enforceability of Loan Promise or Agreement Made by Savings Bank Before Conservatorship or Supervisory Control

If a promise or agreement to lend money is not otherwise unenforceable under Chapter 26 (Statute of Frauds), Business & Commerce Code, and if the promise or agreement is made by the savings bank before the savings bank is placed under conservatorship or supervisory control, the promise or agreement or a memorandum of the promise or agreement is enforceable against the savings bank only if the promise or agreement or memorandum:

(1)

is in writing and states the material terms of the loan and the loan’s repayment;

(2)

is signed by an authorized officer or employee of the savings bank and the person to whom the promise or agreement was made; and

(3)

is approved by the savings bank’s board of directors.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 96.403 — Enforceability of Loan Promise or Agreement Made by Savings Bank Before Conservatorship or Supervisory Control, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­96.­htm#96.­403 (accessed Jun. 5, 2024).

96.001
General Duties 96.002
Adoption of Rules 96.051
Annual Audit 96.053
Reports 96.054
Examinations 96.055
Additional Examinations 96.056
Access to Books and Records 96.057
Subpoena 96.101
Intervention for Violations and Unsafe and Unsound Practices 96.102
Intervention for Filing Inappropriate Information 96.103
Intervention for Activity Resulting in Actual or Potential Financial Loss 96.104
Intervention Relating to Examination of Affairs 96.105
Temporary Supervisory Order 96.106
Service of Temporary Supervisory Order 96.107
Hearing on Temporary Supervisory Order 96.108
Plan of Operation of Savings Bank After Order of Temporary Conservatorship 96.109
Enforcement of Supervisory Order 96.110
Stay of Supervisory Order 96.111
Disclosure of Information in Supervisory Order 96.151
Placement of Savings Bank Under Conservatorship 96.152
Duties of Conservator 96.153
Term of Conservator 96.154
Transfer of Management of Rehabilitated Savings Bank 96.155
Scope of Authority of Other Persons During Conservatorship 96.156
Limiting Order During Conservatorship 96.157
Service of Limiting Order 96.158
Effect of Limiting Order 96.159
Hearing on Limiting Order 96.160
Stay of Limiting Order 96.161
Cost of Conservatorship 96.162
Venue 96.201
Placement of Savings Bank Under Voluntary Supervisory Control 96.202
Powers of Supervisors 96.203
Cost of Supervisory Control 96.251
Closing of Savings Bank by Board Resolution 96.252
Closing of Savings Bank by Commissioner’s Order 96.253
Effect of Closing 96.254
Hearing on Commissioner’s Order 96.301
Liquidation of Savings Bank 96.302
Removal or Replacement of Liquidating Agent 96.303
Duties of Liquidating Agent 96.304
Notice 96.305
Presentation of Claim 96.306
Priority of Claims 96.307
Action on Claim 96.308
Hearing on Claim 96.309
Payment of Final Dividend 96.310
Deposit of Money by Liquidating Agent 96.311
Payment of Nonclaiming Deposit Account Holders and Creditors 96.312
Cost of Liquidation 96.313
Final Report 96.314
Continued Existence of Savings Bank Following Liquidation 96.315
Special Liquidating Agent 96.316
Closing of Liquidation 96.317
Administrative Procedure 96.351
Disclosure by Department Prohibited 96.352
Disclosure to Other Agencies 96.353
Other Disclosure Prohibited 96.354
Civil Discovery 96.355
Investigative Information 96.356
Examination Report 96.357
Removal for Violation 96.401
Derivative Suit 96.402
Payment of Insured Deposit Liabilities by Fdic 96.403
Enforceability of Loan Promise or Agreement Made by Savings Bank Before Conservatorship or Supervisory Control 96.404
Interest in Savings Bank Prohibited for Department 96.405
Permitted Transactions for Department Relating to Savings Bank 96.0551
Regulation and Examination of Certain Related Entities
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 96.403’s source at texas​.gov