Texas HB3804 amends the definition of "deposit" and regulates bank activities during supervision.

Texas HB3804 amends the Finance Code to redefine "deposit" as the establishment of a debtor-creditor relationship. It specifies what constitutes a deposit, including money held as escrow or for special purposes. The bill also outlines activities that a bank under supervision cannot undertake without approval, such as disposing of assets or incurring debts. Exemptions from certain acquisition regulations are detailed, including acquisitions related to debt satisfaction or by operation of law. The act's effective date depends on a two-thirds vote by the legislature.

Texas HB3804 amends the definition of "deposit" and regulates bank activities during supervision.

Texas HB3804 amends the Finance Code to redefine "deposit" as the establishment of a debtor-creditor relationship. It specifies what constitutes a deposit, including money held as escrow or for special purposes. The bill also outlines activities that a bank under supervision cannot undertake without approval, such as disposing of assets or incurring debts. Exemptions from certain acquisition regulations are detailed, including acquisitions related to debt satisfaction or by operation of law. The act's effective date depends on a two-thirds vote by the legislature.