Texas Finance Code
§ 187.002 — COMPANIES AUTHORIZED TO CONDUCT A TRUST BUSINESS
FI § 187.002Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 187. MULTISTATE TRUST BUSINESS · Art. A. GENERAL PROVISIONS
Statute text
View on source(a)A company may not conduct a trust business in this state unless the company is a trust institution and is:
(1)a state trust company chartered pursuant to this subtitle;
(2)a bank, savings association, savings bank, or credit union that maintains its principal office or a branch in this state in accordance with governing law, or another office in this state with the power to conduct a trust business to the extent permitted by rule;
(3)a trust company chartered under the laws of another state or a foreign country that has a trust office in this state licensed by the banking commissioner pursuant to this chapter; or
(4)a foreign bank with an office in this state that is authorized to act as a fiduciary pursuant to Section 204.106.
(b)Notwithstanding Subsection (a), a trust institution that does not maintain a principal office, branch, or trust office in this state may act as a fiduciary in this state to the extent permitted by Subchapter A, Chapter 505, Estates Code.
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Legislative history
Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.017, eff. September 1, 2015.