Tex. Fin. Code § 185.102 · Subchapter B. SUPERVISION AND CONSERVATORSHIP
ORDER OF CONSERVATORSHIP.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The banking commissioner by order may appoint a conservator for a state trust company if the banking commissioner determines from examination or other credible evidence that the state trust company is in hazardous condition and immediate and irreparable harm is threatened to the state trust company, its clients, creditors, or shareholders or participants, or the public.
(b) The banking commissioner may issue the order without prior notice at any time before, during, or after the period of supervision.
(c) An order of conservatorship issued under this section must specifically state the basis for the order.
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.185.htm
- Text hash
- sha256 10dc118de57e397b2436c5839ea51849d4549bdddd5bddd0231ca479b4055505
- 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 2 provisions
Provisions in this library whose text cites Tex. Fin. Code § 185.102. 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.