1. (a) An association may not move any office beyond its immediate vicinity without prior approval of the commissioner. Immediate vicinity means the area included within a radius or distance of one mile from the present location of such office. Any relocation within the immediate vicinity as defined in this section will require the approval of the commissioner, if the office to be relocated has not been open for business at its present location for more than two years. If the existing office has been opened for more than two years, prior written notice shall be provided to the commissioner asserting the relocation is in the immediate vicinity.
2. (b) Notwithstanding subsection (a) of this section, a savings association may retain its existing home office as a branch office and relocate its home office to another established branch office by providing the commissioner with prior written notice. Upon such notification, the establishment of such office shall be deemed an approved branch or administrative office of the savings association.
3. (c) Each application, or prior written notice provided to the commissioner under this section, shall provide the existing and new branch location's address; a description of the land and building to be built or leased and the terms thereof; estimates of the cost of removal to and maintenance of the new location; information regarding any affiliated parties involved in transactions regarding the purchase, sale, construction, or lease of the new proposed office, if applicable; evidence of the board's approval of the relocation; and any other information as deemed necessary by the commissioner.
4. (d) An application to move an office location shall be set for hearing by the commissioner and notice given as provided for new charter applications, and the hearing may be dispensed with by the commissioner under the same conditions.
5. (e) The commissioner may not approve an application to move or relocate any office of a savings association, unless the commissioner finds, based on the information furnished with the application, evidence adduced at a hearing, and information contained in department records and that all requirements of 7 Texas Administrative Code §§53.4(1) - (7) have been met.
6. (f) This section does not apply to loan offices or administrative offices subject to §53.5 of this title.

Source Note:The provisions of this §57.1 adopted to be effective January 1, 1976; amended to be effective June 1, 1977, 2 TexReg 1870; amended to be effective January 11, 1983, 7 TexReg 4563; amended to be effective January 10, 1989, 13 TexReg 6470; amended to be effective November 21, 1994, 19 TexReg 8861; amended to be effective January 6, 2011, 35 TexReg 11851; amended to be effective May 5, 2016, 41 TexReg 3103.