The department shall promptly notify and issue guidance to all credit unions chartered in this state on the adoption of a federal law or regulation that:

1. (1) affects a power or authority conferred to credit unions under Section 123.003(a);
2. (2) takes effect immediately; and
3. (3) conflicts with state law.

Added by Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 1, eff. September 1, 2021.