1. (a) The Standard Bylaws for State Chartered Credit Unions, adopted by the commission in 1986 or as subsequently amended, constitute the standard form of bylaws which shall be used by credit unions and incorporators.
2. (b) The commissioner is expressly authorized to approve deviations from and amendments to the standard bylaws. The commissioner may approve a deviation or amendment unless the deviation or amendment violates the Act or rules of the commission.
3. (c) A credit union may obtain a deviation from the standard bylaws by submitting a written application to the commissioner. A request for a deviation shall be considered in the same manner as an application to amend bylaws under this section.
4. (d) A copy of the "Standard Bylaws for State Chartered Credit Unions" may be obtained from the Credit Union Department.
5. (e) Credit unions desiring to amend articles of incorporation or bylaws must submit an application to the commissioner on forms prescribed by the commissioner. The application shall include the text of the amendment, the date that the board of directors adopted the amendment, a brief statement explaining the purpose of the amendment, and information regarding the financial impact on the credit union if the amendment is approved.
6. (f) The commissioner shall determine whether or not an application is complete within 30 days of its receipt and provide written notice of the determination. The notice shall provide with reasonable specificity any deficiencies in the application.
7. (g) The commissioner shall publish notice of the application in the Department Newsletter when the application is complete. The commissioner shall allow at least 30 days after the date of the Department Newsletter in which the notice is published for any affected credit union or credit unions to respond to the application prior to taking preliminary action approving or denying the application. This subsection shall not apply to applications for standard optional field of membership provisions (1), (2), and (3) as contained in the Standard Bylaws for State Chartered Credit Unions, standard optional provision (4) with any radius up to ten miles, or any application submitted to accomplish a supervisory merger or consolidation pursuant to the Act, unless the application encompasses a field of membership not presently served by the credit unions that are being merged or consolidated.
8. (h) The commissioner's preliminary determination shall be in writing and served by first class mail directed to the applicant and to each protestant.

9. (i) The commissioner may approve and make available to credit unions standard bylaw amendments, if:

   1. (1) the commissioner determines that the amendment is consistent with the purposes of the Act and does not violate the Act or the rules adopted under the Act; and
   2. (2) the subject matter of the amendment is of a type which can be applied to credit unions uniformly.
10. (j) The commissioner shall consider approving a standard bylaw amendment pursuant to subsection (i) of this section if a request for a uniform amendment is made by 25 or more state chartered credit unions or an association with at least 25 state chartered credit unions as members.

Source Note:The provisions of this §91.206 adopted to be effective March 8, 1984, 9 TexReg 1150; amended to be effective September 6, 1989, 14 TexReg 4305; amended to be effective February 19, 1990, 15 TexReg 651; amended to be effective April 10, 1991, 16 TexReg 1879; amended to be effective October 5, 1992, 17 TexReg 6548; amended to be effective July 8, 1994, 19 TexReg 4924.