{"data":{"id":"us-tx/tex.-finance-code-37.006","jurisdiction":"us-tx","citation":"Tex. Finance Code § 37.006","heading":"FINANCIAL MORATORIUM.","body":"(a) The banking commissioner, with the approval of a majority of the finance commission and the governor, may proclaim a financial moratorium for, and invoke a uniform limitation on, withdrawal of deposits of every character from all banks within this state. A bank refusing to comply with a written proclamation of the banking commissioner under this section, signed by a majority of the members of the finance commission and the governor:\n(1) forfeits its charter if it is a state bank; or\n(2) may not act as reserve agent for a state bank or as depository of state, county, municipal, or other public money if it is a national bank.\n(b) On order of the banking commissioner after refusal of a national bank to comply with the proclamation, a depositor of public money with the bank:\n(1) shall immediately withdraw the public money from the bank; and\n(2) may not redeposit public money in the bank without the banking commissioner's prior written approval.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE A. BANKS","CHAPTER 37. EMERGENCIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.37.htm#37.006","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"5b63fd75f3b5dc59d80e5171fb06d631b944b3394548e6522bbe8d97f15a2643","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-37.005","next":"us-tx/tex.-finance-code-37.007"},"notice":"GroundRules: Original legal text. Not legal advice."}