Tex. Fin. Code § 126.051 · Subchapter B. EXAMINATIONS
EXAMINATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 46, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.126.htm
- Text hash
- sha256 e885436289bd97aac5caa3efb65019715bc3a74a43b33643bed2284061a65c6d
- 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.