Sec. 651.053.  ENTITLEMENT OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS TO LICENSE.  (a)  A bank or a savings and loan association is entitled to receive a license under this subchapter if the bank or savings and loan association:
(1)  is engaging in business under the laws of this state or the United States;  and
(2)  notifies the department of its intention to operate under this chapter.
(b)  On receipt of notice under Subsection (a)(2), the department shall immediately issue a license to the bank or savings and loan association.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.