Tex. Fin. Code § 204.110 · Subchapter B. DIRECT BRANCH AND AGENCY OFFICES OF FOREIGN BANKS
SEPARATE ASSETS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Each foreign bank licensed to establish and maintain a Texas state branch or agency in this state shall keep the assets of its business in this state separate and apart from the assets of its business outside this state.
(b) The depositors and creditors of a foreign bank arising out of transactions with, and recorded on the books of, its Texas state branch or agency are entitled to absolute preference and priority over the depositors and creditors of the foreign bank's offices located outside this state with respect to the assets of the foreign bank in this state.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 344, Sec. 1.001, 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.204.htm
- Text hash
- sha256 d195a9e4bf00074e65ffd0c15a51ae218432a1a172d0718286c7d050f8c38714
- 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.