Sec. 651.053. ENTITLEMENT OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS TO LICENSE. (a) A bank or a savings and loan association is entitled to receive a license under this subchapter if the bank or savings and loan association:
(1) is engaging in business under the laws of this state or the United States; and
(2) notifies the department of its intention to operate under this chapter.
(b) On receipt of notice under Subsection (a)(2), the department shall immediately issue a license to the bank or savings and loan association.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
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