1. (a) A credit union shall do business under the name in which its certificate of incorporation was issued, unless a name change has been approved by the commissioner in accordance with the Act and these rules.
2. (b) Subject to the requirements of this rule, a credit union may adopt an assumed name. The credit union's official name, however, must be used in all official or legal communications or documents, which includes account and membership agreements, loan contracts, title documents (except for vehicle titles, which may also be under the credit union's assumed name), account statements, checks, drafts, and correspondence with the Department or the National Credit Union Administration. The assumed name may also be used in those materials so long as it is identified as such (e.g. Generic Credit Union dba GCU). Further, a credit union using an assumed name shall clearly disclose the credit union's official name when the assumed name is used on any signs, advertising, mailings, or similar materials.
3. (c) A credit union shall not use any name other than its official name until it has received a certificate of authority to use an assumed business name from the commissioner and has registered the designation with the Secretary of State and the appropriate county clerk.
4. (d) The commissioner shall not issue a certificate of authority to use an assumed business name if the designation might confuse or mislead the public, or if it is not readily distinguishable from, or is deceptively similar to, a name of another credit union lawfully doing business and that has established an office in this state.
5. (e) It is the responsibility of the credit union officials to comply with state and federal law applicable to corporate names.
6. (f) A credit union that intends to use an assumed name shall take reasonable steps to ensure that use of the name will not result in confusion to the extent that its different facilities may be mistaken as different credit unions or that the shares and deposits deposited at or through the different facilities are separately insured from those of the other facilities.

Source Note:The provisions of this §91.205 adopted to be effective May 11, 2000, 25 TexReg 3947; amended to be effective November 16, 2005, 30 TexReg 7433.