Tex. Fin. Code § 185.106 · Subchapter B. SUPERVISION AND CONSERVATORSHIP
DUTIES OF STATE TRUST COMPANY UNDER SUPERVISION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
During a period of supervision, a state trust company, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or restricted by the order of supervision, may not:
(1) dispose of, sell, transfer, convey, or encumber the state trust company's assets;
(2) lend or invest the state trust company's funds;
(3) incur a debt, obligation, or liability;
(4) pay a dividend to the state trust company's shareholders or participants;
(5) solicit or accept any new client accounts;
(6) remove an executive officer or director, change the number of executive officers or directors, or have any other change in the position of executive officer or director; or
(7) engage in any other activity determined by the banking commissioner to threaten the safety and soundness 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.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 16, eff. June 14, 2013.
Acts 2025, 89th Leg., R.S., Ch. 639 (H.B. 3806), Sec. 1, eff. September 1, 2025.
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 4e931eb7b7bffcfabec768ed13428d22edfdc7e8ba01f13de1c411506b0b07e9
- 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.