Tex. Fin. Code § 183.104 · Subchapter B. BOARD AND OFFICERS
ADVISORY DIRECTOR OR ADVISORY MANAGER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An advisory director or advisory manager is not considered to be a director if the advisory director or advisory manager:
(1) is not elected by the shareholders or participants of the state trust company;
(2) does not vote on matters before the board or a committee of the board;
(3) is not counted for purposes of determining a quorum of the board or committee; and
(4) provides solely general policy advice to the board.
(b) A state trust company may not disclose to an advisory director or advisory manager confidential information pertaining to the state trust company or the company's clients unless:
(1) the board adopts a resolution that designates the advisory director or advisory manager as a person who is officially connected to the trust company and that describes the purpose for disclosure of the information, which must be a reasonable business purpose; and
(2) the disclosure is made under a written confidentiality agreement between the state trust company and the advisory director or advisory manager.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 13, eff. June 14, 2013.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.183.htm
- Text hash
- sha256 31eabcabc2a553c9f9953d360a84d4db7cf0df02670d6ac43ebd9729e2439d99
- 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
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.