Texas Finance Code

§ 184.003 — OTHER REAL PROPERTY

FI § 184.003Title 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

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(a)A state trust company may not invest its restricted capital in real property except:

(1)as permitted by this subtitle or rules adopted under this subtitle;

(2)with the prior written approval of the banking commissioner; or

(3)as necessary to avoid or minimize a loss on a loan or investment previously made in good faith.

(b)With the prior written approval of the banking commissioner, a state trust company may:

(1)exchange real property for other real property or personal property;

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Legislative history

Acts 2021, 87th Leg., R.S., Ch. 915 (H.B. 3607), Sec. 8.001, eff. September 1, 2021. Acts 2023, 88th Leg., R.S., Ch. 98 (S.B. 1646), Sec. 3, eff. May 19, 2023.