Texas Finance Code

§ 204.205 — PROCEDURE FOR REVOCATION

FI § 204.205Title 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

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(a)Notice of a revocation proceeding must:

(1)be in the form of a proposed order;

(2)be served on the foreign bank by personal delivery or registered or certified mail, return receipt requested, to a director, officer, or employee of the foreign bank at a Texas representative office location, or to the registered agent of the foreign bank;

(3)state the effective date of the proposed order, which may not be before the 21st day after the date the proposed order is mailed or delivered; and

(4)state the grounds for the proposed revocation with reasonable certainty.

(b)Unless the foreign bank requests a hearing in writing on or before the effective date of the proposed order, the order takes effect as proposed and is final and nonappealable.

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Legislative history

Added by Acts 1999, 76th Leg., ch. 344, Sec. 1.001, eff. Sept. 1, 1999.