Texas Finance Code

§ 186.102 — FILING RESOLUTIONS WITH BANKING COMMISSIONER

FI § 186.102Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 186. DISSOLUTION AND RECEIVERSHIP · Art. B. VOLUNTARY DISSOLUTION

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After resolutions to dissolve and liquidate a state trust company have been adopted by the board and shareholders or participants, a majority of the directors, managers, or managing participants shall verify and file with the banking commissioner certified copies of:

(1)the resolutions of the shareholders or participants that:

(A)are adopted at a meeting for which proper notice was given or by unanimous written consent; and

(B)approve the dissolution and liquidation of the state trust company;

(2)the resolutions of the board approving the dissolution and liquidation of the state trust company if the trust company is operated by a board of directors or managers;

(3)the notice to the shareholders or participants informing them of the meeting described by Subdivision (1)(A); and

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 735 (H.B. 2754), Sec. 18, eff. September 1, 2007.