Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 15.410 - Share and Depositor Insurance Protection(a) The commission shall adopt, and the commissioner shall enforce, reasonable rules requiring a credit union to provide share and deposit insurance protection for credit union members and depositors.(b) Rules adopted under this section must include authorization for and establishment of a share and deposit guaranty corporation or credit union under the department's exclusive regulation to enable the department to carry out the purposes of this chapter and Subtitle D, Title 3.(c) A credit union may provide share and deposit insurance protection through another source approved by the department, including a program of the National Credit Union Administration. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.