(a) If federal law requires a savings association or savings association holding company to submit an application to a federal agency before an acquisition under this chapter, the savings association or savings association holding company must comply with federal law and file with the department:
- (1) a copy of all papers filed with the federal agency; and
- (2) when issued, a copy of the approval or other action taken by the federal agency regarding the application.
- (b) For purposes of an acquisition under this chapter, compliance with federal law requiring the submission and approval of a permit authorizing the acquisition constitutes compliance with the requirements of this chapter.
As added by P.L.193-1997, SEC.2.