Tex. Fin. Code § 182.006 · Subchapter A. ORGANIZATION AND POWERS IN GENERAL
ISSUANCE OF CHARTER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A state trust company may not engage in the trust business until it receives its charter from the banking commissioner. The banking commissioner may not deliver the charter until the state trust company has:
(1) received cash in at least the full amount of restricted capital from subscriptions for the issuance of shares or participation shares;
(2) elected or qualified the initial officers and directors or managers, as appropriate, named in the application for charter or other officers and directors or managers approved by the banking commissioner; and
(3) complied with all other requirements of this subtitle relating to the organization of the state trust company.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.182.htm
- Text hash
- sha256 8d9a06698fddab31d4592323b5dc2b761370cd5e9f37255af2c8cc02ec7ada7c
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 182.006. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.