Tex. Fin. Code § 204.118 · Subchapter B. DIRECT BRANCH AND AGENCY OFFICES OF FOREIGN BANKS
IMMEDIATE SUSPENSION OR REVOCATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If the commissioner finds that any of the factors set forth in Section 204.116 are true with respect to a foreign bank licensed to maintain a Texas state branch or agency and that it is necessary for the protection of the interests of creditors of the foreign bank's business in this state or for the protection of the public interest that the commissioner immediately suspend or revoke the license of the foreign bank, the commissioner may issue, without notice and hearing, an order suspending or revoking the license of the foreign bank for a period of up to 90 days, pending investigation or hearing under Section 204.117.
(b) An order issued under this section shall be served on the foreign bank in the manner required by Section 204.117(a)(2).
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 d3d6be94813c34a613246f470c4ef0835114678af2f9be29dbfc6fcff4d2fe8b
- 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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