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State Law
Federal Law
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Texas Finance Code - Chapter 187 Multistate Trust BusinessLegal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Chapter 187 Multistate Trust Business (a) In this chapter: (1) "Acquire" means an act that results in direct or indirect control by an out-of-state trust company of a state trust ... (a) A company may not conduct a trust business in this state unless the company is a trust institution and is: (1) a state trust ... Subject to the approval of the banking commissioner pursuant to Section 182.203, a state trust company may engage in the trust business in another state ... (a) An out-of-state trust company that establishes or maintains an office in this state under this chapter may conduct any activity at the office that ... (a) Unless another law restricts the designation of trustee, a person residing in this state may designate a trust institution to act as a fiduciary ... An out-of-state trust institution doing business in this state is subject to the franchise tax to the extent provided by Chapter 171, Tax Code. Added ... The provisions of this chapter or applications of those provisions are severable as provided by Section 312.013, Government Code. Added by Acts 2001, 77th Leg., ... An out-of-state trust company may engage in a trust business at an office in this state only if it establishes and maintains a trust office ... (a) An out-of-state trust company that does not operate a trust office in this state may not establish and maintain a de novo trust office ... (a) An out-of-state trust company that does not operate a trust office in this state and that meets the requirements of this subchapter may acquire ... An out-of-state trust company desiring to establish and maintain a de novo trust office or acquire an existing trust institution in this state and to ... (a) A trust office of an out-of-state trust company may be acquired or established in this state under this subchapter if: (1) the out-of-state trust ... An out-of-state trust company that maintains a trust office in this state under this subchapter may establish or acquire additional trust offices or representative trust ... (a) An out-of-state trust institution may establish a representative trust office as permitted by this subchapter to: (1) solicit, but not accept, fiduciary appointments; (2) ... (a) Except as provided by Subsection (e) with respect to a credit union, a savings association, or a savings bank, an out-of-state trust institution that ... (a) To carry out the purposes of this subtitle, the banking commissioner may: (1) enter into cooperative, coordinating, or information sharing agreements with another supervisory ... (a) To the extent consistent with Section 187.301, the banking commissioner may make examinations of a trust office or trust representative office established and maintained ... (a) Subject to Subsection (b), to encourage the effective coordination and implementation of home state laws and host state laws with respect to interstate trust ... Information obtained directly or indirectly by the banking commissioner relative to the financial condition or business affairs of a trust institution, other than the public ... (a) If the banking commissioner determines that an out-of-state trust company has violated this subtitle or other applicable law of this state, the banking commissioner ... Each out-of-state trust company that has established and maintains an office in this state pursuant to this subtitle shall give written notice, at least 30 ... Last modified: August 10, 2007 |