Tex. Agric. Code § 56.008 · Chapter 56. AGRICULTURAL FINANCE CORPORATIONS
REGULATION BY BANKING COMMISSIONER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An agricultural finance corporation is subject to the supervision and control of the banking commissioner and shall conform to the rules adopted by the banking commissioner.
(b) An agricultural finance corporation may not begin business until authorized to do so by the banking commissioner after it satisfactorily shows that it has complied with the law.
(c) An agricultural finance corporation is subject to the following requirements as if it were a state bank:
(1) it shall make reports to the banking commissioner;
(2) it shall permit periodic visitations and examinations conducted under the banking commissioner's direction; and
(3) it shall pay fees for those examinations.
(d) The banking commissioner may take charge of and liquidate an agricultural finance corporation for causes prescribed for similar actions against a state bank.
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1125, ch. 388, Sec. 1, eff. Sept. 1, 1981.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/AG/htm/AG.56.htm
- Text hash
- sha256 709a4252116fd7317e4c363c3b3eb6ae326614465eeeea578fba1d895030dd4c
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.