Texas Finance Code

§ 182.021 — ACTIVITIES NOT REQUIRING CHARTER

FI § 182.021Title 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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Subject to Subchapter C, Chapter 187, a company does not engage in the trust business in a manner requiring a state charter by:

(1)acting in a manner authorized by law and in the scope of authority as an agent of a trust institution;

(2)rendering a service customarily performed as an attorney in a manner approved and authorized by the Supreme Court of Texas or State Bar of Texas;

(3)acting as trustee under a deed of trust made only as security for the payment of money or for the performance of another act;

(4)conducting business as a trust institution if the exercise of fiduciary powers in this state by the trust institution is not otherwise prohibited by law;

(5)engaging in a business regulated by the Office of Consumer Credit Commissioner, except as limited by rules adopted by the finance commission;

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Legislative history

Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.111, eff. September 1, 2005. Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 69, eff. September 1, 2007. Acts 2017, 85th Leg., R.S., Ch. 599 (S.B. 1401), Sec. 13, eff. September 1, 2017. Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895), Sec. 2.03, eff. September 1, 2023.