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Texas Finance Code - Section 181.107. Statements Of Condition And Income; Penalty

Legal Research Home > Texas Laws > Finance Code > Texas Finance Code - Section 181.107. Statements Of Condition And Income; Penalty

§ 181.107. STATEMENTS OF CONDITION AND INCOME;  
PENALTY.  (a) Each state trust company periodically shall file with 
the banking commissioner a copy of its statement of condition and 
income.
	(b)  The finance commission by rule may:                                       
		(1)  require the statement to be filed with the banking 
commission at the intervals the finance commission determines;
		(2)  specify the form of the statement of condition and 
income, including specified confidential and public information to 
be in the statement;  and
		(3)  require public information in the statement to be 
published at the times and in the publications and locations the 
finance commission determines.
	(c)  Except for portions designated to be confidential by the 
banking commissioner, a statement of condition and income is a 
public record.
	(d)  A state trust company that fails to file a statement of 
condition and income on or before the date it is due is, after 
notice and hearing, subject to a penalty of not more than $500 a day 
for each day of noncompliance.

Added by Acts 1999, 76th Leg., ch. 62, § 7.16(a), eff. Sept. 1, 
1999.    

Last modified: August 11, 2007