(a) Subject to Subsection (b), the Credit Union Commission shall adopt rules to implement this subchapter and Subchapter D with respect to credit unions in credit union development districts.
(b) The Credit Union Commission, in consultation with the Texas Economic Development and Tourism Office, shall adopt rules regarding the criteria for the designation of credit union development districts under this subchapter. The rules must require the Credit Union Commission to consider:
(1) the location, number, and proximity of sites where services provided by a credit union are available in the proposed credit union development district;
(2) consumer needs for services provided by a credit union in the proposed district;
(3) the economic viability and local credit needs of the community in the proposed district;
(4) the existing commercial development in the proposed district; and
(5) the impact additional services provided by a credit union would have on potential economic development in the proposed district.
Official text of the Texas Finance Code as published by the Texas Legislative Council.