House Bill No. 3804 amends various sections of the Finance Code to update the regulation of state banks in Texas. Notably, it redefines the term "Deposit" in Section 31.002(a)(15) to clarify the nature of debtor-creditor relationships and specifies what constitutes a deposit liability. The bill also modifies Section 33.005 regarding exemptions for acquisitions of securities, removing certain language about controlling persons and streamlining the criteria for exemptions. Additionally, it amends Section 35.106 to clarify the authority of the supervisor during a period of supervision, particularly regarding the bank's ability to pay dividends and manage its assets.

The bill includes specific insertions and deletions to refine the legal language, such as changing references to Chapter 151 to Chapter 152 and adjusting the conditions under which a controlling person is recognized. The changes aim to enhance clarity and ensure that the regulations align with current banking practices. The bill is set to take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if that threshold is not met.

Statutes affected:
Introduced: Finance Code 31.002, Finance Code 33.005, Finance Code 35.106 (Finance Code 31, Finance Code 33, Finance Code 35)