Texas Finance Code Title 3, Chapter 33 - Ownership And Management Of State Bank

SUBCHAPTER A TRANSFER OF OWNERSHIP INTEREST

• Texas Section 33.001 - Acquisition Of Control
  (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...
• Texas Section 33.002 - Application Regarding Acquisition Of Control
  (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...
• Texas Section 33.003 - Hearing And Decision On Acquisition Of Control
  (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...
• Texas Section 33.004 - Appeal From Adverse Decision
  (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...
• Texas Section 33.005 - Exemptions
  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...
• Texas Section 33.006 - Objection To Other Transfer
  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...

SUBCHAPTER B BOARD AND OFFICERS

• Texas Section 33.007 - Civil Enforcement; Criminal Penalty
  (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...
• Texas Section 33.101 - Voting Securities Held By Bank
  (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...
• Texas Section 33.102 - Bylaws
  Each state bank shall adopt bylaws and may amend its bylaws for the purposes and according to the procedures provided by the Business Organizations Code....
• Texas Section 33.103 - Board Of Directors
  (a) The board of a state bank must consist of not fewer than five but not more than 25 directors, a majority of whom are...
• Texas Section 33.104 - Advisory Director
  (a) An advisory director is not considered a director if the advisory director: (1) is not elected by the shareholders of the bank; (2) does...
• Texas Section 33.105 - Required Monthly Board Meeting
  (a) Except as provided by Subsection (b), the board of a state bank shall hold at least one regular meeting each month. (b) On application...
• Texas Section 33.106 - Officers
  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...
• Texas Section 33.107 - Limitation On Action Of Officer Or Employee In Relation To Asset Or Liability
  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...
• Texas Section 33.108 - Criminal Offenses
  (a) An officer, director, employee, or shareholder of a state bank commits an offense if the person knowingly: (1) conceals information or a fact, or...

SUBCHAPTER C LIMITED BANKING ASSOCIATION

• Texas Section 33.109 - Transactions With Management And Affiliates
  (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...
• Texas Section 33.201 - Liability Of Participants And Managers
  (a) A participant or manager of a limited banking association is not liable for a debt, obligation, or liability of the limited banking association, including...
• Texas Section 33.204 - Management Of Limited Banking Association
  (a) Management of a limited banking association is vested in a board of managers elected by the participants as prescribed by the bylaws. (b) A...
• Texas Section 33.206 - Interest In Limited Banking Association; Transferability Of Interest
  (a) The interest of a participant in a limited banking association is the personal property of the participant and may be transferred as provided by...
• Texas Section 33.208 - Dissolution
  The bylaws or the participation agreement may not require automatic termination, dissolution, or suspension of the limited banking association on the death, disability, bankruptcy, expulsion,...
• Texas Section 33.209 - Allocation Of Profits And Losses
  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...
• Texas Section 33.210 - Distributions
  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...
• Texas Section 33.211 - Application Of Other Provisions To Limited Banking Associations
  For purposes of the provisions of Subtitle A and this subtitle other than this subchapter, as the context requires: (1) a manager is considered to...

Last modified: September 28, 2016