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Texas Finance Code - Chapter 181 General ProvisionsLegal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Chapter 181 General Provisions This subtitle may be cited as the Texas Trust Company Act. Added by Acts 1999, 76th Leg., ch. 62, § 7.16(a), eff. Sept. 1, 1999. ... (a) In this subtitle: (1) "Account" means the client relationship established with a trust institution involving the transfer of funds or property to the trust ... (a) The finance commission may adopt rules to accomplish the purposes of this subtitle, including rules necessary or reasonable to: (1) implement and clarify this ... (a) A person or company may not use in a business name or advertising the words "trust," "trust company," or any similar term or phrase, ... (a) The provisions of the Texas Business Corporation Act regarding liability, defenses, and indemnification of a director, officer, agent, or employee apply to a director, ... An officer, director, manager, managing participant, or employee of a trust institution with fewer than 500 shareholders or participants, including a state trust company or ... An attachment, injunction, or execution to collect a money judgment or secure a prospective money judgment against a trust institution, including a state trust company ... (a) The banking commissioner: (1) may issue interpretive statements containing matters of general policy for the guidance of the public and state trust companies; and ... (a) In response to a specific request from a member of the public or industry, the banking commissioner may issue an opinion directly or through ... An interpretive statement or opinion issued under this subchapter does not have the force of law and is not a rule for the purposes of ... (a) The banking commissioner shall examine each state trust company annually. (b) The banking commissioner may examine a state trust company more often than annually ... Each state trust company shall pay, through the imposition and collection of fees established by the finance commission under Section 181.003(a)(4): (1) the cost of ... (a) The banking commissioner may regulate and examine, to the same extent as if the services or activities were performed by a state trust company ... (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 ... (a) The banking commissioner, a member of the finance commission, a deputy banking commissioner, an examiner, assistant examiner, supervisor, conservator, agent, or other officer or ... (a) The banking commissioner may convene a hearing to receive evidence and argument regarding any matter within the jurisdiction of and before the banking commissioner ... Except as expressly provided otherwise by this subtitle, a person affected by a decision or order of the banking commissioner made under this subtitle after ... (a) In an appeal to the finance commission, the finance commission shall consider the questions raised by the application for review and may also consider ... A person affected by a final order of the banking commissioner who elects to appeal directly to district court, or a person affected by a ... (a) Except as expressly provided otherwise by this subtitle or a rule adopted under Section 181.003(a)(1), the following are confidential and may not be disclosed ... Confidential information may not be disclosed to a member of the finance commission. A member of the finance commission may not be given access to ... (a) For purposes of this section, "affiliated group," "agency," "functional regulatory agency," and "privilege" have the meanings assigned by Section 31.303. (b) The banking commissioner ... (a) Confidential information that is provided to a state trust company, affiliate, or service provider of the state trust company, whether in the form of ... Civil discovery of confidential information from a person subject to Section 181.304 under subpoena or other legal process in a civil proceeding must comply with ... Notwithstanding any other law, the banking commissioner may refuse to release information or records concerning a state trust company in the custody of the department ... (a) A person may provide employment information concerning the known or suspected involvement of a present or former employee, officer, or director of a state ... (a) Notwithstanding Article 2.44, Texas Business Corporation Act, a shareholder or participant of a state trust company may not examine: (1) a report of examination ... Last modified: August 10, 2007 |