Texas Finance Code

§ 187.001 — DEFINITIONS

FI § 187.001Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 187. MULTISTATE TRUST BUSINESS · Art. A. GENERAL PROVISIONS

Statute text

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(a)In this chapter:

(1)"Acquire" means an act that results in direct or indirect control by an out-of-state trust company of a state trust institution, including an act that causes the company to:

(A)merge with the state trust institution;

(B)assume direct or indirect ownership of a controlling interest in any class of voting shares of the state trust institution; or

(C)assume direct ownership or control of all or substantially all of the accounts of a state trust institution.

(2)"Bank" means:

…

Legislative history

Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.