Sec. 279.055. DETERMINATION BY FINANCE COMMISSION. (a) Not later than the 120th day after the date an application for the designation of a banking development district is submitted under Section 279.053 , the finance commission shall make a determination regarding whether to approve the application. (b) If the finance commission approves the application, the finance commission shall notify the: (1) local government; (2) financial institution; (3) comptroller; (4) Texas Economic Development and Tourism Office; (5) lieutenant governor; and (6) speaker of the house of representatives.
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