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AN ACT
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relating to the appointment of the commissioners of certain |
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financial regulatory agencies by the Finance Commission of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 12.101(a), Finance Code, is amended to |
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read as follows: |
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(a) The banking commissioner is the chief executive officer |
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of the Texas Department of Banking. The finance commission[, by at
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least five affirmative votes,] shall appoint the banking |
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commissioner. The banking commissioner serves at the will of the |
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finance commission and is subject to the finance commission's |
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orders and directions. |
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SECTION 2. Section 13.002(a), Finance Code, is amended to |
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read as follows: |
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(a) The savings and mortgage lending commissioner is the |
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chief executive officer of the Department of Savings and Mortgage |
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Lending. The finance commission[, by at least five affirmative
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votes,] shall appoint the savings and mortgage lending |
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commissioner. The savings and mortgage lending commissioner |
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serves at the will of the finance commission and is subject to the |
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finance commission's orders and direction. |
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SECTION 3. (a) The change in law made by this Act to Section |
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12.101(a), Finance Code, applies only to the appointment of the |
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banking commissioner on or after the effective date of this Act. A |
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banking commissioner appointed before the effective date of this |
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Act is governed by the law as it existed immediately before that |
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date, and that law is continued in effect for that purpose. |
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(b) The change in law made by this Act to Section 13.002(a), |
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Finance Code, applies only to the appointment of the savings and |
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mortgage lending commissioner on or after the effective date of |
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this Act. A savings and mortgage lending commissioner appointed |
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before the effective date of this Act is governed by the law as it |
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existed immediately before that date, and that law is continued in |
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effect for that purpose. |
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SECTION 4. This Act takes effect September 1, 2015. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 3536 was passed by the House on April |
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16, 2015, by the following vote: Yeas 141, Nays 0, 3 present, not |
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voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 3536 was passed by the Senate on May |
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20, 2015, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: _____________________ |
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Date |
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_____________________ |
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Governor |