There is hereby created a division of banking within the department of regulatory agencies. The division shall be charged with functions provided by law. Whenever any law of this state refers to the banking department, said law shall be construed as referring to the division of banking. The administrative head of the division shall be […]
The commissioner shall be the administrative head of the division, shall set administrative policy therefor, and shall be responsible for the internal administration thereof, including personnel matters, records, reports, systems, and procedures. The commissioner shall be the appointing authority for employees of the division under the state personnel system. The commissioner shall be responsible for […]
There is hereby established in the division a banking board, which shall consist of nine members as further specified in this section. The members of the banking board serving on June 30, 2003, shall continue to serve until the expiration of their terms of office in accordance with the provisions of this section. There shall […]
The banking board is the policy-making and rule-making authority for the division of banking and has the power to: Make, modify, reverse, and vacate rules for the proper enforcement and administration of this code and the “Public Deposit Protection Act”, article 10.5 of this title; Make, promulgate, alter, amend, or revise reasonable rules as may […]
All rules of the commissioner lawfully adopted prior to April 15, 1988, shall continue to be effective until revised, amended, repealed, or nullified pursuant to law. The banking board and the commissioner in the exercise of their powers pursuant to this code shall be guided by and shall act in a manner consistent with the […]
The banking board shall adopt rules governing the marketing of nontraditional mortgages by banking institutions. In adopting such rules, the board shall incorporate appropriate provisions of section 1098 of the federal “Dodd-Frank Wall Street Reform and Consumer Protection Act”, amending 12 U.S.C. sec. 2601 et seq., and applicable regulations. Source: L. 2007: Entire section added, […]
