Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
Chapter 60 - SAVINGS ASSOCIATIONS
Subchapter D - LOANS, INVESTMENTS, SAVINGS, AND DEPOSITS
Division 1 - AUTHORIZED LOANS AND INVESTMENTS
Section 60.303 - Local Service Area Investment Requirement
Current through Reg. 49, No. 38; September 20, 2024
(a) A savings association must ensure compliance with the local service area investment requirements set forth in Finance Code Chapter 64, Subchapter E.
(b) Local Service Area. A savings association's "local service area" means the geographical area designated by the Commissioner under Finance Code § 64.082. A savings association's local service area is deemed to include any zip code for which any portion of the zip code is located within the 50-mile radius of the home office or any branch office of the savings association and is deemed to be removed from the local service area at the time such office permanently closes.
(c) Categories of Assets and Investments. The following categories of assets and investments constitute loan and investments for purposes of Finance Code § 64.081:
(d) For purposes of identifying qualifying assets and investments under this section:
(e) Any request by a savings association for a waiver under Finance Code § 64.084 must be accompanied by a written explanation and justification as to why qualifying loans are not available in saving association's local service area.
