Texas Finance Code
§ 184.002 — INVESTMENT IN STATE TRUST COMPANY FACILITIES
FI § 184.002Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 184. INVESTMENTS, LOANS, AND DEPOSITS · Art. A. ACQUISITION AND OWNERSHIP OF TRUST COMPANY FACILITIES AND OTHER REAL PROPERTY
Statute text
View on source(a)Without the prior written approval of the banking commissioner, a state trust company may not directly or indirectly invest an amount in excess of the company's restricted capital in state trust company facilities, furniture, fixtures, and equipment. Except as otherwise provided by rules adopted under this subtitle, in computing the limitation provided by this subsection a state trust company:
(1)shall include:
(A)its direct investment in state trust company facilities;
(B)an investment in equity or investment securities of a company holding title to a facility used by the state trust company for the purposes specified by Section 184.001;
(C)a loan made by the state trust company to or on the security of equity or investment securities issued by a company holding title to a facility used by the state trust company; and
(D)any indebtedness incurred on state trust company facilities by a company:
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Legislative history
Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 14, eff. June 14, 2013. Acts 2023, 88th Leg., R.S., Ch. 98 (S.B. 1646), Sec. 2, eff. May 19, 2023.