Texas Finance Code Title 3, Chapter 185 - Enforcement Actions

SUBCHAPTER A ENFORCEMENT ORDERS

• Texas Section 185.0001 - Applicability To State Trust Company Subsidiaries
  This subchapter applies to a subsidiary of a state trust company, a present or former officer, director, manager, managing participant, or employee of a subsidiary,...
• Texas Section 185.001 - Determination Letter
  (a) If the banking commissioner determines from examination or other credible evidence that a state trust company is in a condition that may warrant the...
• Texas Section 185.002 - Cease And Desist Order
  (a) The banking commissioner has grounds to issue a cease and desist order to an officer, employee, director, manager, or managing participant of a state...
• Texas Section 185.003 - Removal Or Prohibition Order
  (a) The banking commissioner has grounds to remove or prohibit a present or former officer, director, manager, managing participant, or employee of a state trust...
• Texas Section 185.0035 - Removal Or Prohibition Orders In Response To Certain Criminal Offenses
  (a) For purposes of this section, a person is considered to have been finally convicted of an offense if the person's case is not subject...
• Texas Section 185.004 - Hearing On Proposed Order
  (a) A requested hearing on a proposed order shall be held not later than the 30th day after the date the first request for a...
• Texas Section 185.005 - Emergency Order
  (a) If the banking commissioner believes that immediate action is needed to prevent immediate and irreparable harm to the state trust company and its clients,...
• Texas Section 185.006 - Copy Of Letter Or Order In State Trust Company Records
  A copy of any determination letter, proposed order, emergency order, or final order issued by the banking commissioner under this subchapter shall be immediately brought...
• Texas Section 185.007 - Effect Of Final Removal Or Prohibition Order
  (a) Except as provided by other law, without the prior written approval of the banking commissioner, a person subject to a final and enforceable removal...
• Texas Section 185.0071 - Application For Release From Final Removal Or Prohibition Order
  (a) After the expiration of 10 years from the date of issuance, a person who is subject to a prohibition or removal order issued under...
• Texas Section 185.008 - Limitation On Action
  The banking commissioner may not initiate an enforcement action under this subchapter later than the fifth anniversary of the date the banking commissioner discovered or...
• Texas Section 185.009 - Enforcement By Commissioner
  (a) If the banking commissioner reasonably believes that a state trust company or other person has violated any of the following, the banking commissioner may...
• Texas Section 185.010 - Administrative Penalty
  (a) The banking commissioner may initiate a proceeding for an administrative penalty against a state trust company or other person by serving on the state...
• Texas Section 185.011 - Payment Or Appeal Of Administrative Penalty
  (a) When a penalty order under Section 185.010 becomes final, a state trust company or other person, as applicable, shall pay the penalty or appeal...
• Texas Section 185.012 - Confidentiality Of Records
  A copy of a notice, correspondence, transcript, pleading, or other document in the records of the department relating to an order issued under this subchapter...

SUBCHAPTER B SUPERVISION AND CONSERVATORSHIP

• Texas Section 185.013 - Collection Of Fees
  The banking commissioner may sue to enforce the collection of a fee owed to the department under a law administered by the banking commissioner. In...
• Texas Section 185.1001 - Applicability To State Trust Company Subsidiaries
  This subchapter applies to a subsidiary of a state trust company, a present or former officer, director, manager, managing participant, or employee of a subsidiary,...
• Texas Section 185.101 - Order Of Supervision
  (a) The banking commissioner by order may appoint a supervisor over a state trust company if the banking commissioner determines from examination or other credible...
• Texas Section 185.102 - Order Of Conservatorship
  (a) The banking commissioner by order may appoint a conservator for a state trust company if the banking commissioner determines from examination or other credible...
• Texas Section 185.103 - Hearing
  (a) An order issued under Section 185.101 or 185.102 must contain or be accompanied by a notice that, at the request of the state trust...
• Texas Section 185.104 - Post-hearing Order
  (a) If after the hearing the banking commissioner finds that the state trust company has been rehabilitated, that its hazardous condition has been remedied, that...
• Texas Section 185.105 - Confidentiality Of Records
  An order issued under this subchapter and a copy of a notice, correspondence, transcript, pleading, or other document in the records of the department relating...
• Texas Section 185.106 - Duties Of State Trust Company Under Supervision
  During a period of supervision, a state trust company, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or...
• Texas Section 185.107 - Powers And Duties Of Conservator
  (a) A conservator appointed under this subchapter shall immediately take charge of the state trust company and all of its property, books, records, and affairs...
• Texas Section 185.108 - Qualifications Of Appointee
  The banking commissioner may appoint as a supervisor or conservator any person who in the judgment of the banking commissioner is qualified to serve. The...
• Texas Section 185.109 - Expenses
  (a) The banking commissioner shall determine and approve the reasonable expenses attributable to the service of a supervisor or conservator, including costs incurred by the...
• Texas Section 185.110 - Review Of Supervisor Or Conservator Decisions
  (a) Notwithstanding Section 185.107(b), a majority of the state trust company's board, acting directly or through counsel who affirmatively represents that the requisite majority has...
• Texas Section 185.111 - Suit Filed Against Or On Behalf Of State Trust Company Under Supervision Or Conservatorship
  (a) A suit filed against a state trust company while the state trust company is under conservatorship, or against a person in connection with an...
• Texas Section 185.112 - Duration
  A supervisor or conservator serves for the period necessary to accomplish the purposes of the supervision or conservatorship as intended by this subchapter. A rehabilitated...
• Texas Section 185.113 - Administrative Election Of Remedies
  The banking commissioner may take any action authorized under Chapter 186 regardless of the existence of supervision or conservatorship. A period of supervision or conservatorship...

SUBCHAPTER C UNAUTHORIZED TRUST ACTIVITY: INVESTIGATION AND ENFORCEMENT

• Texas Section 185.114 - Release Before Hearing
  This subchapter does not prevent release of a state trust company from supervision or conservatorship before a hearing if the banking commissioner is satisfied that...
• Texas Section 185.201 - Investigation Of Unauthorized Trust Activity
  (a) If the banking commissioner has reason to believe that a person has engaged, is engaging, or is likely to engage in an unauthorized trust...
• Texas Section 185.202 - Subpoena Authority
  (a) This section applies only to an investigation of an unauthorized trust activity as provided by Section 185.201, and does not affect the conduct of...
• Texas Section 185.203 - Enforcement Of Subpoena
  (a) If necessary, the banking commissioner may apply to a district court in Travis County or in the county in which the subpoena was served...
• Texas Section 185.204 - Confidentiality Of Subpoenaed Records
  (a) A book, account, record, paper, correspondence, or other document subpoenaed and produced under Section 185.202 that is otherwise made privileged or confidential by law...
• Texas Section 185.205 - Evidence
  (a) On certification by the banking commissioner, a book, record, paper, or document produced or testimony taken as provided by Section 185.202 and held by...
• Texas Section 185.206 - Cease And Desist Order Regarding Unauthorized Trust Activity
  (a) The banking commissioner may serve a proposed cease and desist order on a person the banking commissioner believes is engaging or is likely to...
• Texas Section 185.207 - Emergency Cease And Desist Order
  (a) The banking commissioner may issue an emergency cease and desist order to a person who the banking commissioner reasonably believes is engaging in a...
• Texas Section 185.208 - Appeal Of Cease And Desist Order
  (a) A person affected by a cease and desist order issued, affirmed, or modified after a hearing may file a petition for judicial review. (b)...
• Texas Section 185.209 - Violation Of Final Cease And Desist Order
  (a) If the banking commissioner reasonably believes that a person has violated a final and enforceable cease and desist order, the banking commissioner may: (1)...
• Texas Section 185.210 - Administrative Penalty
  (a) The banking commissioner may initiate an action for an administrative penalty against a person for a violation of a cease and desist order by...
• Texas Section 185.211 - Payment And Appeal Of Administrative Penalty
  (a) When an administrative penalty order under Section 185.210 becomes final, a person affected by the order, within the time permitted by law for appeal,...
• Texas Section 185.212 - Judicial Review Of Administrative Penalty
  (a) If on judicial review the court sustains the penalty order, the court shall order the person to pay the full amount of the penalty...

Last modified: September 28, 2016