SECTION 60.203. Temporary Closing of Additional Offices

In the event a savings association closes any additional office of any type on a temporary basis, such office must be reopened on before 12 months after the date of such closing, unless otherwise extended by written authorization of the Commissioner. In the event such office is not reopened within the allotted 12-month period, or the longer period established by the Commissioner, if applicable, the Commissioner's approval to establish such office for purposes of §60.201 of this title (relating to Approval of Offices Required; Closing an Office; Activities Not Requiring an Approved Office) is deemed revoked. Written notice of any temporary closing must be provided to the Commissioner on or before 10 days after the date of such closing, and the office may not reopen until the Commissioner receives written notification on or before 10 days prior to such reopening.

Source Note: The provisions of this §60.203 adopted to be effective July 16, 2023, 48 TexReg 3644