Texas Finance Code

§ 183.105 — REQUIRED QUARTERLY BOARD MEETING

FI § 183.105Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 183. OWNERSHIP AND MANAGEMENT OF STATE TRUST COMPANY · Art. B. BOARD AND OFFICERS

Statute text

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(a)The board of a state trust company shall hold at least one regular meeting each quarter.

(b)At each regular meeting the board shall review and approve the minutes of the preceding meeting and review the operations, activities, and financial condition of the state trust company. The board may designate committees from among its members to perform those duties and approve or disapprove the committees' reports at each regular meeting.

(c)All actions of the board must be recorded in its minutes.

Legislative history

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.