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State Law
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Texas Finance Code - Chapter 182 Powers, Organization, And Financial RequirementsLegal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Chapter 182 Powers, Organization, And Financial Requirements (a) Subject to Subsection (g) and the other provisions of this chapter, one or more persons may organize and charter a state trust company as ... (a) The articles of association of a state trust company must be signed and acknowledged by each organizer and must contain: (1) the name of ... (a) An application for a state trust company charter must be made under oath and in the form required by the banking commissioner. The application ... (a) The organizers shall solicit comments and protests by publishing notice of the application, its date of filing, and the identity of the organizers, in ... (a) Any person may file a protest of an application with the banking commissioner. (b) If a protest of the application is not filed on ... A state trust company may not engage in the trust business until it receives its charter from the banking commissioner. The banking commissioner may not ... If a state trust company does not open and engage in the trust business within six months after the date it receives its charter or ... (a) The banking commissioner may not issue a charter to a state trust company having restricted capital of less than $1 million. (b) The banking ... (a) The Texas Business Corporation Act and the Texas Miscellaneous Corporation Laws Act (Article 1302-1.01 et seq., Vernon's Texas Civil Statutes) are incorporated into this ... (a) A state trust company has the same rights and privileges with respect to the exercise of fiduciary powers that are or may be granted ... (a) The finance commission by rule may determine that an activity not otherwise approved or authorized for state trust companies is: (1) a financial activity; ... (a) A state trust company may request in writing that it be exempted from specified provisions of this subtitle. The banking commissioner may grant the ... (a) A state trust company requesting an exemption under Section 182.011 shall file an application with the banking commissioner that includes: (1) a nonrefundable application ... (a) Before June 30 of each year, an exempt state trust company shall file a certification on a form provided by the banking commissioner that ... (a) An exempt state trust company shall comply with the home office provisions of Section 182.202. (b) The grant of an exemption to a state ... Control of an exempt state trust company may not be sold or transferred with exempt status. If control of an exempt state trust company is ... The banking commissioner may revoke an exemption of a state trust company if the trust company: (1) makes a false statement under oath on any ... (a) If the banking commissioner determines from examination or other credible evidence that an exempt state trust company has violated any of the requirements of ... (a) A state trust company must comply with all of the provisions of Sections 182.003(b) and (c) not later than the fifth day after the ... A state trust company that was exempt under a predecessor to this subtitle is considered exempt under this subtitle. Added by Acts 1999, 76th Leg., ... (a) A foreign corporation may not conduct a trust business in this state. A foreign corporation may control a state trust company in this state ... Subject to Subchapter C, Chapter 187, a company does not engage in the trust business in a manner requiring a state charter by: (1) acting ... For the purposes of Section 182.021(7), "salesman" includes "agent" and "advisor" includes "investment adviser" or "investment adviser representative." Added by Acts 2001, 77th Leg., ch. ... (a) A state trust company that has been granted a charter under Section 182.006 or a predecessor statute may amend or restate its articles of ... (a) If the articles of association expressly give the board authority to establish series and determine the preferences, limitations, and relative rights of each series, ... (a) A state trust company may not reduce or increase its restricted capital through dividend, redemption, issuance of shares or participation shares, or otherwise without ... (a) With the prior written approval of the banking commissioner, a state trust company may at any time through action of its board, and without ... Periodically the board may vote to designate and record in its minutes the amount of certified surplus. Except to absorb losses in excess of undivided ... A state trust company may engage in the trust business at its home office and at other locations as permitted by this subchapter. Added by ... (a) Each state trust company must have and continuously maintain in this state a home office. The home office must be a location at which ... (a) A state trust company may establish and maintain additional offices. To establish an additional office, the state trust company must file a written notice ... (a) Subject to this subchapter and with the prior written approval of the banking commissioner, a state trust company may merge with another person to ... (a) To apply for approval of a merger, the parties must submit the original articles of merger, a number of copies of the articles of ... (a) If the banking commissioner approves the merger and finds that all required filing fees and investigative costs have been paid, the banking commissioner shall: ... A shareholder, participant, or participant-transferee may dissent from the merger to the extent and by following the procedure provided by the Texas Business Corporation Act ... (a) A state trust company with the prior written approval of the banking commissioner may purchase all or substantially all of the assets of another ... (a) The purchasing state trust company may hold the purchase price and any additional funds delivered to it by the selling institution in trust for ... If the selling institution is at any time after the sale of assets voluntarily or involuntarily closed for liquidation by a state or federal regulatory ... The purchasing state trust company may pay a creditor of the selling institution the amount to be paid the creditor under the terms of the ... (a) The board of a state trust company, with the banking commissioner's approval, may cause the state trust company to sell all or substantially all ... (a) Subject to Chapter 187, a state trust company may act as necessary and to the extent permitted by the laws of the United States, ... (a) A trust institution may apply to the banking commissioner for conversion into a state trust company on a form prescribed by the banking commissioner ... Texas Lawyers
Last modified: August 10, 2007 |