Texas Finance Code

§ 204.203 — PERMISSIBLE ACTIVITIES OF REPRESENTATIVE OFFICE

FI § 204.203Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part G. BANK HOLDING COMPANIES; INTERSTATE BANK OPERATIONS · Ch. 204. FOREIGN BANKS · Art. C. REPRESENTATIVE OFFICES OF FOREIGN BANK

Statute text

View on source

(a)A registered Texas representative office of a foreign bank may engage in:

(1)representational and administrative functions in connection with the banking activities of the foreign bank that:

(A)may include soliciting new business for the foreign bank, conducting research, acting as liaison between the foreign bank's head office and customers in the United States, performing preliminary and servicing steps in connection with lending, or performing back-office functions; and

(B)do not include contracting for any deposit or deposit-like liability, lending money, or engaging in any other banking activity for the foreign bank;

(2)making credit decisions if:

(A)the foreign bank also operates one or more branches or agencies in the United States;

…

Legislative history

Acts 2017, 85th Leg., R.S., Ch. 915 (S.B. 1400), Sec. 5, eff. September 1, 2017. Acts 2017, 85th Leg., R.S., Ch. 915 (S.B. 1400), Sec. 6, eff. September 1, 2017.