Texas § FI.31.004 - UNAUTHORIZED BANKING
Full text of Texas The Texas Constitution § FI.31.004 — UNAUTHORIZED BANKING, with citation guidance and answers to common questions.
§ FI.31.004. UNAUTHORIZED BANKING
UNAUTHORIZED BANKING. (a) Except as otherwise provided by law, a person other than a depository institution authorized to conduct business in this state may not conduct the business of banking or represent to the public that it is conducting the business of banking in this state. (b) This section does not prohibit the continued operation of a bank, trust company, bank and trust company, or savings bank by: (1) a person, partnership, trustee, or trustee operating under a common law declaration of trust who: (A) was actively engaged in the operation of the institution on June 13, 1923; or (B) operated the institution for any period of at least 20 years before June 13, 1923, and resumed operations of the institution not later than June 13, 1924; or (2) a legal representative or successor of a person or entity described by Subdivision (1). Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.31.004
What does The Texas Constitution § FI.31.004 cover?
Section FI.31.004 ("UNAUTHORIZED BANKING") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.31.004?
A common citation format is "The Texas Constitution § FI.31.004" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.31.004 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.