Texas Finance Code

§ 182.012 — APPLICATION FOR EXEMPTION

FI § 182.012Title 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

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(a)A state trust company requesting an exemption under Section 182.011 shall file an application with the banking commissioner that includes:

(1)a nonrefundable application fee set by the finance commission;

(2)a detailed sworn statement showing the state trust company's assets and liabilities as of the end of the calendar month preceding the filing of the application;

(3)a sworn statement of the reason for requesting the exemption;

(4)a sworn statement that the state trust company:

(A)has or will have only family clients and transacts or will transact business solely on behalf of family clients and their related interests;

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Legislative history

Acts 2015, 84th Leg., R.S., Ch. 250 (S.B. 875), Sec. 6, eff. September 1, 2015.