Texas Finance Code
§ 182.008 — RESTRICTED CAPITAL
FI § 182.008Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 182. POWERS, ORGANIZATION, AND FINANCIAL REQUIREMENTS · Art. A. ORGANIZATION AND POWERS IN GENERAL
Statute text
View on source(a)The banking commissioner may not issue a charter to a state trust company having restricted capital of less than $2 million.
(b)The banking commissioner may, on a case-by-case basis, require additional restricted capital for a proposed or existing state trust company if the banking commissioner finds the condition and operations of the existing state trust company or the proposed scope or type of operations of the proposed state trust company requires additional restricted capital to protect the safety and soundness of the state trust company. The safety and soundness factors to be considered by the banking commissioner in the exercise of discretion include:
(1)the nature and type of business the state trust company conducts;
(2)the nature and degree of liquidity in assets held in a corporate capacity;
(3)the amount, type, and depository of fiduciary assets that the state trust company manages;
(4)the complexity of the state trust company's fiduciary duties and degree of discretion undertaken;
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Legislative history
Acts 2015, 84th Leg., R.S., Ch. 250 (S.B. 875), Sec. 4, eff. September 1, 2015.