CHAPTER 13. DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
FINANCE CODE
TITLE 2. FINANCIAL REGULATORY AGENCIES
CHAPTER 13. DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
Sec. 13.001. DEFINITIONS. The definitions provided by Section
31.002 apply to this chapter.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Sec. 13.0015. NAME CHANGES. (a) The Savings and Loan
Department is renamed the Department of Savings and Mortgage
Lending and the savings and loan commissioner is renamed the
savings and mortgage lending commissioner.
(b) A reference in a statute or rule to the Savings and Loan
Department means the Department of Savings and Mortgage Lending.
(c) A reference in a statute or rule to the savings and loan
commissioner means the savings and mortgage lending commissioner.
Added by Acts 2005, 79th Leg., Ch.
1018, Sec. 3.02, eff. September 1, 2005.
Sec. 13.002. SAVINGS AND MORTGAGE LENDING COMMISSIONER. (a)
The savings and mortgage lending commissioner is the chief
executive officer of the Department of Savings and Mortgage
Lending. The finance commission, by at least five affirmative
votes, shall appoint the savings and mortgage lending
commissioner. The savings and mortgage lending commissioner
serves at the will of the finance commission and is subject to
the finance commission's orders and direction.
(b) The savings and mortgage lending commissioner must have not
less than seven years' experience in the executive management of
a savings association or savings bank or in savings association
or savings bank supervision.
(c) The finance commission shall set the compensation of the
savings and mortgage lending commissioner. The compensation
shall be paid from money of the Department of Savings and
Mortgage Lending.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by Acts 2001, 77th Leg., ch. 867, Sec. 15, eff. Sept. 1,
2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
921, Sec. 6.013, eff. September 1, 2007.
Sec. 13.003. DEPUTY COMMISSIONERS. (a) The savings and
mortgage lending commissioner shall appoint one or more deputy
savings and mortgage lending commissioners.
(b) One deputy savings and mortgage lending commissioner must
have the qualifications required of the savings and mortgage
lending commissioner. During the savings and mortgage lending
commissioner's absence or inability to serve, that deputy savings
and mortgage lending commissioner has the powers and shall
perform the duties of the savings and mortgage lending
commissioner.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
921, Sec. 6.014, eff. September 1, 2007.
Sec. 13.004. EXAMINERS. The savings and mortgage lending
commissioner shall appoint savings association and savings bank
examiners.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
921, Sec. 6.015, eff. September 1, 2007.
Sec. 13.006. OATH OF OFFICE. Before assuming the duties of
office, each deputy savings and mortgage lending commissioner,
examiner, assistant examiner, conservator, supervisor, and
special agent and each other officer or employee specified by the
savings and mortgage lending commissioner must take an oath of
office to discharge faithfully the duties assigned and uphold the
constitution and laws of this state and the United States.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
921, Sec. 6.017, eff. September 1, 2007.
Sec. 13.007. GENERAL POWERS AND DUTIES OF COMMISSIONER. The
savings and mortgage lending commissioner shall:
(1) supervise and regulate the organization, operation, and
liquidation of state savings associations, as provided by
Subtitle B, Title 3, and state savings banks, as provided by
Subtitle C, Title 3; and
(2) enforce those subtitles personally or through a deputy
savings and mortgage lending commissioner, examiner, supervisor,
conservator, or other agent.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
921, Sec. 6.018, eff. September 1, 2007.
Sec. 13.009. CONFLICTS OF LAW. If this chapter conflicts with
Subtitle B or C, Title 3, this chapter controls.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Sec. 13.010. CONFLICTS OF INTEREST. (a) In this section,
"Texas trade association" means a cooperative and voluntarily
joined association of business or professional competitors in
this state designed to assist its members and its industry or
profession in dealing with mutual business or professional
problems and in promoting their common interest.
(b) A person may not be a Department of Savings and Mortgage
Lending employee employed in a "bona fide executive,
administrative, or professional capacity," as that phrase is used
for purposes of establishing an exemption to the overtime
provisions of the federal Fair Labor Standards Act of 1938 (29
U.S.C. Section 201 et seq.), and its subsequent amendments, if:
(1) the person is an officer, employee, or paid consultant of a
Texas trade association in a field regulated by the Department of
Savings and Mortgage Lending; or
(2) the person's spouse is an officer, manager, or paid
consultant of a Texas trade association in a field regulated by
the Department of Savings and Mortgage Lending.
(c) A person may not act as the general counsel to the
Department of Savings and Mortgage Lending if the person is
required to register as a lobbyist under Chapter 305, Government
Code, because of the person's activities for compensation on
behalf of a profession related to the operation of the Department
of Savings and Mortgage Lending.
(d) Before the 11th day after the date on which an employee
begins employment with the Department of Savings and Mortgage
Lending, the employee shall read the conflict-of-interest
statutes applicable to employees of the Department of Savings and
Mortgage Lending and sign a notarized affidavit stating that the
employee has read those statutes.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by Acts 2001, 77th Leg., ch. 337, Sec. 1, eff. Sept. 1,
2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
921, Sec. 6.020, eff. September 1, 2007.
Sec. 13.011. CONSUMER INFORMATION AND COMPLAINTS. (a) The
savings and mortgage lending commissioner shall prepare
information of consumer interest describing:
(1) the regulatory functions of the Department of Savings and
Mortgage Lending; and
(2) the procedures by which consumer complaints are filed with
and resolved by the Department of Savings and Mortgage Lending.
(b) The information under Subsection (a) must be made available
to the public and appropriate state agencies.
(c) The Department of Savings and Mortgage Lending shall
maintain a file on each written complaint filed with the
Department of Savings and Mortgage Lending. The file must
include:
(1) the name of the person who filed the complaint;
(2) the date the complaint is received by the Department of
Savings and Mortgage Lending;
(3) the subject matter of the complaint;
(4) the name of each person contacted in relation to the
complaint;
(5) a summary of the results of the review or investigation of
the complaint; and
(6) an explanation of the reason the file was closed, if the
agency closed the file without taking action other than to
investigate the complaint.
(d) The Department of Savings and Mortgage Lending shall provide
to the person filing the complaint and to each person who is a
subject of the complaint a copy of the Department of Savings and
Mortgage Lending's policies and procedures relating to complaint
investigation and resolution.
(e) The Department of Savings and Mortgage Lending, at least
quarterly until final disposition of the complaint, shall notify
the person filing the complaint and each person who is a subject
of the complaint of the status of the investigation unless the
notice would jeopardize an undercover investigation.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by Acts 2001, 77th Leg., ch. 337, Sec. 2, eff. Sept. 1,
2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
921, Sec. 6.021, eff. September 1, 2007.
Sec. 13.012. SUNSET PROVISION. The office of savings and
mortgage lending commissioner and the Department of Savings and
Mortgage Lending are subject to Chapter 325, Government Code
(Texas Sunset Act). Unless continued in existence as provided by
that chapter, the office and department are abolished September
1, 2013.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by Acts 2001, 77th Leg., ch. 337, Sec. 3, eff. Sept. 1,
2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
921, Sec. 6.022, eff. September 1, 2007.
Sec. 13.013. STANDARDS OF CONDUCT. The savings and mortgage
lending commissioner or the savings and mortgage lending
commissioner's designee shall provide to agency employees, as
often as necessary, information regarding the requirements for
office or employment under this chapter, including information
regarding a person's responsibilities under applicable laws
relating to standards of conduct for state officers or employees.
Added by Acts 2001, 77th Leg., ch. 337, Sec. 4, eff. Sept. 1,
2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
921, Sec. 6.023, eff. September 1, 2007.
Sec. 13.014. EQUAL EMPLOYMENT OPPORTUNITY POLICY. (a) The
savings and mortgage lending commissioner or the savings and
mortgage lending commissioner's designee shall prepare and
maintain a written policy statement that implements a program of
equal employment opportunity to ensure that all personnel
decisions are made without regard to race, color, disability,
sex, religion, age, or national origin.
(b) The policy statement must include:
(1) personnel policies, including policies relating to
recruitment, evaluation, selection, training, and promotion of
personnel, that show the intent of the Department of Savings and
Mortgage Lending to avoid the unlawful employment practices
described by Chapter 21, Labor Code; and
(2) an analysis of the extent to which the composition of the
Department of Savings and Mortgage Lending personnel is in
accordance with state and federal law and a description of
reasonable methods to achieve compliance with state and federal
law.
(c) The policy statement must:
(1) be updated annually;
(2) be reviewed by the state Commission on Human Rights for
compliance with Subsection (b)(1); and
(3) be filed with the governor's office.
Added by Acts 2001, 77th Leg., ch. 337, Sec. 4, eff. Sept. 1,
2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
921, Sec. 6.024, eff. September 1, 2007.