1 Finance Code §59.005 was amended by Acts 1999, 76th Leg., ch. 344, §2.016, eff. Sept. 1, 1999, to eliminate the requirement of affiliation. Section 59.005 was again amended by Act of May 22, 2001, 77th Leg., H.B. 2155, §14, eff. Sept. 1, 2001, to further ease requirements, including elimination of required commissioner approval.  The cited provision now appears as Subsections (a) and (d):

     (a)  A financial institution may receive deposits, renew time deposits, close loans, service loans, receive payments on loans and other obligations, and perform other services as an agent for another financial institution under a written agency agreement.

     (d)  Notwithstanding another law, a financial institution acting as an agent for another financial institution in accordance with this section is not considered to be a branch of the institution acting as principal.