Tex. Fin. Code § 59.009 · Subchapter A. GENERAL PROVISIONS
COMPLIANCE REVIEW COMMITTEE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A financial institution or an affiliate of a financial institution, including its holding company, may establish a compliance review committee to test, review, or evaluate the financial institution's conduct, transactions, or potential transactions for the purpose of monitoring and improving or enforcing compliance with:
(1) a statutory or regulatory requirement;
(2) financial reporting to a governmental agency;
(3) the policies and procedures of the financial institution or its affiliates; or
(4) safe, sound, and fair lending practices.
(b) Except as provided by Subsection (c):
(1) a compliance review document is confidential and is not discoverable or admissible in evidence in a civil action;
(2) an individual serving on a compliance review committee or acting under the direction of a compliance review committee may not be required to testify in a civil action as to:
(A) the contents or conclusions of a compliance review document; or
(B) an action taken or discussions conducted by or for a compliance review committee; and
(3) a compliance review document or an action taken or discussion conducted by or for a compliance review committee that is disclosed to a governmental agency remains confidential and is not discoverable or admissible in a civil action.
(c) Subsection (b)(2) does not apply to an individual who has management responsibility for the operations, records, employees, or activities being examined or evaluated by the compliance review committee.
(d) This section does not limit the discovery or admissibility in a civil action of a document that is not a compliance review document.
Notes and commentary — not statutory text
History
Renumbered from Sec. 59.007 and amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.016, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.59.htm
- Text hash
- sha256 f3c2505ee0081a16cd61f4e397dee7d528cdd28450778ccd3f851dd7c76c87ac
- 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
Cited by 2 provisions
Provisions in this library whose text cites Tex. Fin. Code § 59.009. Each shows the citation as that text prints it.
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.