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State Law
Federal Law
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Texas Finance Code - Chapter 33 Ownership And Management Of State BankLegal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Chapter 33 Ownership And Management Of State Bank (a) Except as otherwise expressly permitted by this subtitle, without the prior written approval of the banking commissioner a person may not directly or indirectly ... (a) The proposed transferee in an acquisition of control of a state bank or of a person that controls a state bank must file an ... (a) Not later than the 60th day after the date the notice is published, the banking commissioner shall approve the application or set the application ... (a) If a hearing has been held, the banking commissioner has entered an order denying the application, and the order has become final, the proposed ... The following acquisitions are exempt from Section 33.001: (1) an acquisition of securities in connection with the exercise of a security interest or otherwise in ... This subchapter does not prevent the banking commissioner from investigating, commenting on, or seeking to enjoin or set aside a transfer of voting securities that ... (a) If the banking commissioner believes that a person has violated or is about to violate this subchapter or a rule of the finance commission ... (a) Voting securities of a state bank held by the bank in a fiduciary capacity under a will or trust, whether registered in the bank's ... Except as provided by Section 33.207, each state bank shall adopt bylaws and may amend its bylaws for the purposes and according to the procedures ... (a) The board of a state bank must consist of not fewer than five but not more than 25 directors, managers, or managing participants, a ... An advisory director or advisory manager is not considered a director or manager if the advisory director or advisory manager: (1) is not elected by ... (a) The board of a state bank shall hold at least one regular meeting each month. At each regular meeting the board shall review and ... The board shall annually appoint the officers of the bank, who serve at the will of the board. The bank must have a principal executive ... Unless expressly authorized by a resolution of the board recorded in its minutes, an officer or employee may not create or dispose of a bank ... (a) An officer, director, manager, managing participant, employee, shareholder, or participant of a state bank commits an offense if the person knowingly: (1) conceals information ... (a) Without the prior approval of a disinterested majority of the board recorded in the minutes or, if a disinterested majority cannot be obtained, the ... (a) Except as provided by Subsection (b), a participant, participant-transferee, or manager of a limited banking association is not liable for a debt, obligation, or ... (a) A limited banking association shall file with the banking commissioner a copy of any participation agreement by which a participant of the limited banking ... Except as provided by the articles of association of the limited banking association, a debt, liability, or other obligation may be contracted for or incurred ... (a) Management of a limited banking association is vested in the participants in proportion to each participant's contribution to capital, as adjusted periodically to properly ... (a) Except as otherwise provided by this chapter, a participant may not receive from a limited banking association any part of the participant's contribution to ... (a) The interest of a participant or participant-transferee in a limited banking association is the personal property of the participant or the participant-transferee and may ... A limited banking association in which management is retained by the participants is not required to adopt bylaws if provisions required by law to be ... (a) A limited banking association organized under this chapter is dissolved on: (1) the expiration of the period fixed for the duration of the limited ... The profits and losses of a limited banking association may be allocated among the participants and among classes of participants as provided by the participation ... Subject to Section 32.103, distributions of cash or other assets of a limited banking association may be made to the participants as provided by the ... For purposes of the provisions of this subtitle other than this subchapter, as the context requires: (1) a manager is considered to be a director ... Last modified: August 10, 2007 |