Texas Finance Code
§ 185.0035 — REMOVAL OR PROHIBITION ORDERS IN RESPONSE TO CERTAIN CRIMINAL OFFENSES
FI § 185.0035Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 185. ENFORCEMENT ACTIONS · Art. A. ENFORCEMENT ORDERS
Statute text
View on source(a)For purposes of this section, a person is considered to have been finally convicted of an offense if the person's case is not subject to further appellate review and:
(1)a sentence was imposed on the person;
(2)the person received probation or community supervision, including deferred adjudication community supervision; or
(3)the court deferred final disposition of the person's case.
(b)The banking commissioner has grounds to remove or prohibit a present or former officer, director, manager, managing participant, or employee of a state trust company from office or employment in, or prohibit a controlling shareholder or participant or other person participating in the affairs of a state trust company from further participation in the affairs of, the state trust company or any other entity chartered, registered, permitted, or licensed by the banking commissioner if the person has been finally convicted of a felony offense involving:
(1)a financial institution, as defined by Section 201.101;
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Legislative history
Acts 2019, 86th Leg., R.S., Ch. 20 (S.B. 614), Sec. 24, eff. September 1, 2019.