Texas Finance Code

§ 35.106 — AUTHORITY OF SUPERVISOR

FI § 35.106Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 35. ENFORCEMENT ACTIONS · Art. B. SUPERVISION AND CONSERVATORSHIP

Statute text

View on source

During a period of supervision, a bank, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or restricted by the order of supervision, may not:

(1)dispose of, sell, transfer, convey, or encumber the bank's assets;

(2)lend or invest the bank's money;

(3)incur a debt, obligation, or liability;

(4)pay a dividend to the bank's shareholders;

(5)remove an executive officer or director, change the number of executive officers or directors, or have any other change in the position of executive officer or director; or

…

Legislative history

Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 47, eff. September 1, 2007. Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 10, eff. June 14, 2013. Acts 2023, 88th Leg., R.S., Ch. 989 (H.B. 3574), Sec. 7, eff. June 18, 2023. Acts 2025, 89th Leg., R.S., Ch. 638 (H.B. 3804), Sec. 3, eff. June 20, 2025.