Tex. Fin. Code § 187.002 · Subchapter A. GENERAL PROVISIONS
COMPANIES AUTHORIZED TO CONDUCT A TRUST BUSINESS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A company may not conduct a trust business in this state unless the company is a trust institution and is:
(1) a state trust company chartered pursuant to this subtitle;
(2) a bank, savings association, savings bank, or credit union that maintains its principal office or a branch in this state in accordance with governing law, or another office in this state with the power to conduct a trust business to the extent permitted by rule;
(3) a trust company chartered under the laws of another state or a foreign country that has a trust office in this state licensed by the banking commissioner pursuant to this chapter; or
(4) a foreign bank with an office in this state that is authorized to act as a fiduciary pursuant to Section 204.106.
(b) Notwithstanding Subsection (a), a trust institution that does not maintain a principal office, branch, or trust office in this state may act as a fiduciary in this state to the extent permitted by Subchapter A, Chapter 505, Estates Code.
(c) A company does not engage in the trust business in this state in a manner requiring a charter or license under this subtitle by engaging in an activity identified in Section 182.021, except that the registration requirements of Section 187.202 may apply to a trust representative office engaging in the activity.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.017, eff. September 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.187.htm
- Text hash
- sha256 9d00e4fc2ee46454011a00c2e248a9ea36daa3505596ef1f1518a9151bff8c0d
- 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
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