Texas Finance Code

§ 185.106 — DUTIES OF STATE TRUST COMPANY UNDER SUPERVISION

FI § 185.106Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 185. ENFORCEMENT ACTIONS · Art. B. SUPERVISION AND CONSERVATORSHIP

Statute text

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During a period of supervision, a state trust company, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or restricted by the order of supervision, may not:

(1)dispose of, sell, transfer, convey, or encumber the state trust company's assets;

(2)lend or invest the state trust company's funds;

(3)incur a debt, obligation, or liability;

(4)pay a dividend to the state trust company's shareholders or participants;

(5)solicit or accept any new client accounts;

…

Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 16, eff. June 14, 2013. Acts 2025, 89th Leg., R.S., Ch. 639 (H.B. 3806), Sec. 1, eff. September 1, 2025.