Texas Finance Code Title 3, Chapter 181 - General Provisions

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 181.001 - Short Title
  This subtitle may be cited as the Texas Trust Company Act. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
• Texas Section 181.002 - Definitions
  (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...
• Texas Section 181.003 - Trust Company Rules
  (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...
• Texas Section 181.004 - Implying That Person Is Trust Company
  (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,...
• Texas Section 181.005 - Liability Of Trust Company Directors And Personnel
  (a) The provisions of the Business Organizations Code regarding liability, defenses, and indemnification of a director, officer, agent, or employee apply to a director, officer,...
• Texas Section 181.006 - Exemption Of Trust Institution Directors And Personnel From Securities Law
  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...

SUBCHAPTER B REGULATION OF TRUST COMPANIES BY BANKING DEPARTMENT

• Texas Section 181.007 - Attachment, Injunction, Or Execution
  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...
• Texas Section 181.101 - Issuance Of Interpretive Statements
  (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...
• Texas Section 181.102 - Issuance Of Opinion
  (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...
• Texas Section 181.103 - Effect Of Interpretive Statement Or Opinion
  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...
• Texas Section 181.104 - Examination Requirement
  (a) The banking commissioner shall examine each state trust company annually, or on another periodic basis as may be required by rule or policy, or...
• Texas Section 181.105 - Cost Of Regulation
  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...
• Texas Section 181.106 - Regulation And Examination Of Related Entities
  (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...
• Texas Section 181.107 - Statements Of Condition And Income; Penalty
  (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...

SUBCHAPTER C ADMINISTRATIVE PROCEDURE

• Texas Section 181.108 - Liability Of Commission And Department Officers And Personnel Limited
  (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...
• Texas Section 181.201 - Banking Commissioner Hearing; Informal Disposition
  (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...
• Texas Section 181.202 - Appeal Of Banking Commissioner Decision Or Order
  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...
• Texas Section 181.203 - Appeal To Finance Commission
  (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...

SUBCHAPTER D CONFIDENTIALITY OF INFORMATION

• Texas Section 181.204 - Direct Appeal To Court Or Appeal Of Finance Commission Order
  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...
• Texas Section 181.301 - Disclosure By Department Prohibited
  (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...
• Texas Section 181.302 - Disclosure To Finance Commission
  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...
• Texas Section 181.303 - Disclosure To Other Agencies
  (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...
• Texas Section 181.304 - Other Disclosure Prohibited; Penalty
  (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...
• Texas Section 181.305 - Civil Discovery
  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...
• Texas Section 181.306 - Investigative Information
  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...
• Texas Section 181.307 - Employment Information
  (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...
• Texas Section 181.308 - Shareholder Inspection Rights
  (a) Notwithstanding Section 21.218 or 101.502, Business Organizations Code, a shareholder or participant of a state trust company may not examine: (1) a report of...

Last modified: September 28, 2016