Texas Finance Code Title 3, Chapter 187 - Multistate Trust Business

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 187.001 - Definitions
  (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...
• Texas Section 187.002 - Companies Authorized To Conduct A Trust Business
  (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...
• Texas Section 187.003 - Interstate Trust Business Of State Trust Company
  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...
• Texas Section 187.004 - Trust Business Of Out-of-state Trust Company
  (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...
• Texas Section 187.005 - Designation Of Trustee And Governing Law
  (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...
• Texas Section 187.006 - Taxation
  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...

SUBCHAPTER B OUT-OF-STATE TRUST COMPANY TRUST OFFICE

• Texas Section 187.007 - Severability
  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.,...
• Texas Section 187.101 - Trust Offices In This State
  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...
• Texas Section 187.102 - Establishing An Interstate 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...
• Texas Section 187.103 - Acquiring An Interstate 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...
• Texas Section 187.104 - Requirement Of Notice
  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...
• Texas Section 187.105 - Conditions For Approval
  (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...

SUBCHAPTER C OUT-OF-STATE TRUST INSTITUTION REPRESENTATIVE TRUST OFFICE

• Texas Section 187.106 - Additional Trust Offices
  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...
• Texas Section 187.201 - Representative Trust Office Business
  (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)...

SUBCHAPTER D SUPERVISION OF OUT-OF-STATE TRUST COMPANY

• Texas Section 187.202 - Registration Of Representative Trust Office
  (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...
• Texas Section 187.301 - Cooperative Agreements; Fees
  (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...
• Texas Section 187.302 - Examinations; Periodic Reports
  (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...
• Texas Section 187.303 - Interpretive Statements And Opinions
  (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...
• Texas Section 187.304 - Confidential Information
  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...
• Texas Section 187.305 - Enforcement; Appeals
  (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...
• Texas Section 187.306 - Notice Of Subsequent Event
  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: September 28, 2016