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Rule §67.8 Deposit Accounts

Published: 2015

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(a) Deposit accounts are hereby authorized for state-chartered
associations, provided that each association desiring to use the deposit
account shall, by appropriate resolution of its directors and appropriate
amendment of its bylaws by its members thereof, approve such type
of account.
(b) In connection with various types of deposit accounts
the form of certificates or passbooks to be used shall be submitted
to the savings and mortgage lending commissioner for approval.
(c) In the event that an association adopts and becomes
a deposit institution as provided for in this section, then in such
event it may continue to maintain its theretofore existing accounts
as regular savings accounts and certificate of savings accounts until
same are converted to deposit accounts or certificates of deposit
by the holders thereof.

Source Note: The provisions of this §67.8 adopted to be effective January 1,1976; amended to be effective March 31, 1981, 6 TexReg 935; amended to be effective March 8, 2012, 37 TexReg 1502