1. (a) Loan Offices. A savings association may, to the extent authorized by its board of directors, establish or maintain loan offices or loan production offices that only service or originate (but do not approve) loans. A savings association shall notify the commissioner in writing prior to the opening or closing of a loan office. Upon such notification, the establishment of such office shall be deemed an approved loan office of the savings association.
2. (b) Administrative Offices. A savings association may, to the extent authorized by its board of directors, establish or maintain administrative offices of the association. Such an office may be located separate and apart from the location of any other facility of the association; however, no savings deposits or loan applications may be accepted at an administrative office. A savings association shall notify the commissioner in writing prior to the opening or closing of an administrative office. Upon such notification, the establishment of such office shall be deemed an approved administrative office of the association.

Source Note:The provisions of this §53.5 adopted to be effective January 1, 1976; amended to be effective July 1, 1986, 11 TexReg 2809; amended to be effective September 1, 1987, 12 TexReg 2716; amended to be effective November 21, 1994, 19 TexReg 8861.