TITLE 7. BANKING AND SECURITIES
PART 6. CREDIT UNION DEPARTMENT
CHAPTER 91. CHARTERING, OPERATIONS, MERGERS, LIQUIDATIONS
SUBCHAPTER
D.
The Credit Union Commission adopts amendments to §91.401, Credit Union Ownership of Property, without changes to the proposed text as published in the December 19, 2025, issue of the Texas Register (50 TexReg 8131), and the rule will not be republished.
The amendments simplify the definition of "premises," delete references to terms that were removed from the rule with amendments made in 2015, change the time for a credit union investing in property to put it into service for credit union business to six years and create a process for requesting an extension of time for consistency with the NCUA regulation, and make organizational and other non-substantive changes for improved readability.
The reasoned justification for the amendments is increased clarity and readability of the rule.
No comments were received in response to the proposed amendments.
The amendments are adopted pursuant to Texas Finance Code, Section 15.402, which authorizes the Commission to adopt reasonable rules for administering Texas Finance Code, Title 2, Chapter 15 and Title 3, Subtitle D. Authority to adopt these amendments is found also in Texas Finance Code Sections 124.351.
The statutory provisions affected by the adopted amendments are contained in Texas Finance Code Chapter 15 and Title 3, Subtitle D specifically Finance Code Section 124.351.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on March 27, 2026.
TRD-202601390
Robert Etheridge
Commissioner
Credit Union Department
Effective date: April 16, 2026
Proposal publication date: December 19, 2025
For further information, please call: (512) 837-9236