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.
2. (b) Each application for such approval shall state the exact proposed new location of the office to be relocated and shall be supported with statements, exhibits, maps, and other data, properly verified under oath, which shall be sufficiently detailed and comprehensive to enable the commissioner to pass upon the factors for approval. Such supporting data shall also include estimates of the cost of removal to and maintenance of the new location.
3. (c) The commissioner may not approve an application to move or relocate any office of an association, unless he shall have found from the data furnished with the application, the evidence adduced at the hearing, and his official records, all of the findings necessary for approval of a branch office, as contained in §53.4 of this title (relating to Findings Necessary for Approval of Branch Office).
4. (d) This section does not apply to offices set forth in §53.5 of this title (relating to Loan Offices and Administrative Offices).

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.