Texas Trust Company Act

Texas · FI · §§ 181.001 to 199.005 · 242 sections

Overview

The act governs the chartering, powers, and supervision of state trust companies, covering how such a company is formed and capitalized, what it may call itself, and the range of financial activities it may conduct. Oversight rests with the state banking commissioner and banking department, which review charter applications through a process of notice, investigation, protest, and hearing, conduct periodic examinations, require statements of condition and income, and issue interpretive statements and opinions that regulated parties may rely on. It also makes examination and investigative information confidential except for defined disclosures to other regulators and supervised institutions, limits the liability of trust company and regulatory personnel, provides administrative hearings with appeal to district court, and allows certain trust companies to seek exemption from portions of its requirements.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

In the courts

Sections of this act have been cited in 3 court decisions.

Most-cited authority: 99 S.W.3d 384 - Equitable Trust Co. v. FINANCE COM'N OF TX

Sections covered

Tex. Fin. Code § 181.001SHORT TITLE1 cite
Tex. Fin. Code § 181.002DEFINITIONS
Tex. Fin. Code § 181.003TRUST COMPANY RULES1 cite
Tex. Fin. Code § 181.004IMPLYING THAT PERSON IS TRUST COMPANY
Tex. Fin. Code § 181.005LIABILITY OF TRUST COMPANY DIRECTORS AND PERSONNEL
Tex. Fin. Code § 181.006EXEMPTION OF TRUST INSTITUTION DIRECTORS AND PERSONNEL FROM SECURITIES LAW
Tex. Fin. Code § 181.007ATTACHMENT, INJUNCTION, OR EXECUTION
Tex. Fin. Code § 181.101ISSUANCE OF INTERPRETIVE STATEMENTS
Tex. Fin. Code § 181.102ISSUANCE OF OPINION
Tex. Fin. Code § 181.103EFFECT OF INTERPRETIVE STATEMENT OR OPINION
Tex. Fin. Code § 181.104EXAMINATION REQUIREMENT
Tex. Fin. Code § 181.105COST OF REGULATION
Tex. Fin. Code § 181.106REGULATION AND EXAMINATION OF RELATED ENTITIES
Tex. Fin. Code § 181.107STATEMENTS OF CONDITION AND INCOME; PENALTY
Tex. Fin. Code § 181.108LIABILITY OF COMMISSION AND DEPARTMENT OFFICERS AND PERSONNEL LIMITED
Tex. Fin. Code § 181.201BANKING COMMISSIONER HEARING; INFORMAL DISPOSITION
Tex. Fin. Code § 181.202APPEAL OF BANKING COMMISSIONER DECISION OR ORDER
Tex. Fin. Code § 181.204APPEAL TO DISTRICT COURT
Tex. Fin. Code § 181.301DISCLOSURE BY DEPARTMENT PROHIBITED
Tex. Fin. Code § 181.3015DISCLOSURE TO STATE TRUST COMPANIES
Tex. Fin. Code § 181.302DISCLOSURE TO FINANCE COMMISSION
Tex. Fin. Code § 181.303DISCLOSURE TO OTHER AGENCIES
Tex. Fin. Code § 181.304OTHER DISCLOSURE PROHIBITED; PENALTY
Tex. Fin. Code § 181.305CIVIL DISCOVERY
Tex. Fin. Code § 181.306INVESTIGATIVE INFORMATION
Tex. Fin. Code § 181.307EMPLOYMENT INFORMATION
Tex. Fin. Code § 181.308SHAREHOLDER INSPECTION RIGHTS
Tex. Fin. Code § 182.001ORGANIZATION AND GENERAL POWERS OF STATE TRUST COMPANY
Tex. Fin. Code § 182.002CERTIFICATE OF FORMATION OF STATE TRUST COMPANY
Tex. Fin. Code § 182.003APPLICATION FOR STATE TRUST COMPANY CHARTER; STANDARDS FOR APPROVAL
Tex. Fin. Code § 182.004NOTICE AND INVESTIGATION OF CHARTER APPLICATION
Tex. Fin. Code § 182.005PROTEST; HEARING; DECISION ON CHARTER APPLICATION
Tex. Fin. Code § 182.006ISSUANCE OF CHARTER
Tex. Fin. Code § 182.007DEADLINE TO BEGIN BUSINESS
Tex. Fin. Code § 182.008RESTRICTED CAPITAL
Tex. Fin. Code § 182.009APPLICATION OF GENERAL CORPORATE LAW
Tex. Fin. Code § 182.010PARITY
Tex. Fin. Code § 182.0105FINANCIAL ACTIVITIES
Tex. Fin. Code § 182.011EXEMPTION FROM STATUTORY PROVISIONS FOR CERTAIN STATE TRUST COMPANIES
Tex. Fin. Code § 182.012APPLICATION FOR EXEMPTION
Tex. Fin. Code § 182.013ANNUAL CERTIFICATION FOR EXEMPT STATE TRUST COMPANY
Tex. Fin. Code § 182.014LIMITATION ON EFFECT OF EXEMPTION
Tex. Fin. Code § 182.015CHANGE OF CONTROL OF EXEMPT STATE TRUST COMPANY
Tex. Fin. Code § 182.016GROUNDS FOR REVOCATION OF EXEMPTION
Tex. Fin. Code § 182.017NOTICE AND EFFECT OF REVOCATION OF EXEMPTION
Tex. Fin. Code § 182.018ACTION AFTER REVOCATION OF EXEMPTION
Tex. Fin. Code § 182.019PRIOR EXEMPTION
Tex. Fin. Code § 182.020FOREIGN CORPORATION EXERCISING TRUST POWERS
Tex. Fin. Code § 182.021ACTIVITIES NOT REQUIRING CHARTER
Tex. Fin. Code § 182.0211CONFORMANCE WITH SECURITIES ACT
Tex. Fin. Code § 182.101AMENDMENT OR RESTATEMENT OF STATE TRUST COMPANY CERTIFICATE OF FORMATION
Tex. Fin. Code § 182.102ESTABLISHING SERIES OF SHARES OR PARTICIPATION SHARES
Tex. Fin. Code § 182.103CHANGE IN RESTRICTED CAPITAL
Tex. Fin. Code § 182.104CAPITAL NOTES OR DEBENTURES
Tex. Fin. Code § 182.105BOARD DESIGNATION OF CERTIFIED SURPLUS
Tex. Fin. Code § 182.201CONDUCT OF TRUST BUSINESS
Tex. Fin. Code § 182.202HOME OFFICE
Tex. Fin. Code § 182.203ADDITIONAL OFFICES
Tex. Fin. Code § 182.301MERGER AUTHORITY
Tex. Fin. Code § 182.302MERGER APPLICATION; GROUNDS FOR APPROVAL
Tex. Fin. Code § 182.303APPROVAL OF BANKING COMMISSIONER
Tex. Fin. Code § 182.304RIGHTS OF DISSENTERS TO MERGER
Tex. Fin. Code § 182.401AUTHORITY TO PURCHASE ASSETS1 cite
Tex. Fin. Code § 182.402AUTHORITY TO ACT AS DISBURSING AGENT
Tex. Fin. Code § 182.403LIQUIDATION OF SELLING INSTITUTION
Tex. Fin. Code § 182.404PAYMENT TO CREDITORS
Tex. Fin. Code § 182.405SALE OF ASSETS
Tex. Fin. Code § 182.501MERGER OR CONVERSION OF STATE TRUST COMPANY INTO ANOTHER TRUST INSTITUTION EXERCISING FIDUCIARY POWERS
Tex. Fin. Code § 182.502CONVERSION OF TRUST INSTITUTION INTO STATE TRUST COMPANY
Tex. Fin. Code § 183.001ACQUISITION OF CONTROL
Tex. Fin. Code § 183.002APPLICATION REGARDING ACQUISITION OF CONTROL
Tex. Fin. Code § 183.003HEARING AND DECISION ON ACQUISITION OF CONTROL
Tex. Fin. Code § 183.004APPEAL FROM ADVERSE DECISION
Tex. Fin. Code § 183.005OBJECTION TO OTHER TRANSFER
Tex. Fin. Code § 183.006CIVIL ENFORCEMENT; CRIMINAL PENALTY
Tex. Fin. Code § 183.101VOTING SECURITIES HELD BY TRUST COMPANY
Tex. Fin. Code § 183.102BYLAWS
Tex. Fin. Code § 183.103BOARD OF DIRECTORS, MANAGERS, OR MANAGING PARTICIPANTS
Tex. Fin. Code § 183.104ADVISORY DIRECTOR OR ADVISORY MANAGER
Tex. Fin. Code § 183.105REQUIRED QUARTERLY BOARD MEETING
Tex. Fin. Code § 183.106OFFICERS
Tex. Fin. Code § 183.107LIMITATION ON ACTION OF OFFICER OR EMPLOYEE IN RELATION TO ASSET OR LIABILITY
Tex. Fin. Code § 183.108CERTAIN CRIMINAL OFFENSES
Tex. Fin. Code § 183.109TRANSACTIONS WITH MANAGEMENT AND AFFILIATES
Tex. Fin. Code § 183.110FIDUCIARY RESPONSIBILITY
Tex. Fin. Code § 183.111RECORDKEEPING
Tex. Fin. Code § 183.112BONDING REQUIREMENTS
Tex. Fin. Code § 183.113REPORTS OF APPARENT CRIME
Tex. Fin. Code § 183.201LIABILITY OF PARTICIPANTS AND MANAGERS
Tex. Fin. Code § 183.202FILING OF NOTICE OF FULL LIABILITY
Tex. Fin. Code § 183.203CONTRACTING FOR DEBT OR OBLIGATION
Tex. Fin. Code § 183.204MANAGEMENT OF LIMITED TRUST ASSOCIATION
Tex. Fin. Code § 183.205WITHDRAWAL OR REDUCTION OF PARTICIPANT'S CONTRIBUTION TO CAPITAL
Tex. Fin. Code § 183.206INTEREST IN LIMITED TRUST ASSOCIATION; TRANSFERABILITY OF INTEREST
Tex. Fin. Code § 183.207BYLAWS OF LIMITED TRUST ASSOCIATION
Tex. Fin. Code § 183.208DISSOLUTION
Tex. Fin. Code § 183.209ALLOCATION OF PROFITS AND LOSSES
Tex. Fin. Code § 183.210DISTRIBUTIONS
Tex. Fin. Code § 183.211APPLICATION OF OTHER PROVISIONS TO LIMITED TRUST ASSOCIATIONS
Tex. Fin. Code § 184.001DEFINITION
Tex. Fin. Code § 184.002INVESTMENT IN STATE TRUST COMPANY FACILITIES
Tex. Fin. Code § 184.003OTHER REAL PROPERTY
Tex. Fin. Code § 184.101SECURITIES
Tex. Fin. Code § 184.102TRANSACTIONS IN STATE TRUST COMPANY SHARES OR PARTICIPATION SHARES
Tex. Fin. Code § 184.103STATE TRUST COMPANY SUBSIDIARIES
Tex. Fin. Code § 184.104OTHER INVESTMENT PROVISIONS
Tex. Fin. Code § 184.105ENGAGING IN COMMERCE PROHIBITED
Tex. Fin. Code § 184.201LENDING LIMITS
Tex. Fin. Code § 184.202VIOLATION OF LENDING LIMIT
Tex. Fin. Code § 184.203LEASE FINANCING TRANSACTION
Tex. Fin. Code § 184.204GENERAL BANKING PRIVILEGES NOT CONFERRED
Tex. Fin. Code § 184.301TRUST DEPOSITS
Tex. Fin. Code § 184.302GENERAL BANKING PRIVILEGES NOT CONFERRED
Tex. Fin. Code § 184.401BORROWING LIMIT
Tex. Fin. Code § 184.402PLEDGE OF ASSETS
Tex. Fin. Code § 185.0001APPLICABILITY TO STATE TRUST COMPANY SUBSIDIARIES
Tex. Fin. Code § 185.001DETERMINATION LETTER
Tex. Fin. Code § 185.002CEASE AND DESIST ORDER
Tex. Fin. Code § 185.003REMOVAL OR PROHIBITION ORDER
Tex. Fin. Code § 185.0035REMOVAL OR PROHIBITION ORDERS IN RESPONSE TO CERTAIN CRIMINAL OFFENSES
Tex. Fin. Code § 185.004HEARING ON PROPOSED ORDER
Tex. Fin. Code § 185.005EMERGENCY ORDER
Tex. Fin. Code § 185.006COPY OF LETTER OR ORDER IN STATE TRUST COMPANY RECORDS
Tex. Fin. Code § 185.007EFFECT OF FINAL REMOVAL OR PROHIBITION ORDER
Tex. Fin. Code § 185.0071APPLICATION FOR RELEASE FROM FINAL REMOVAL OR PROHIBITION ORDER
Tex. Fin. Code § 185.008LIMITATION ON ACTION
Tex. Fin. Code § 185.009ENFORCEMENT BY COMMISSIONER
Tex. Fin. Code § 185.010ADMINISTRATIVE PENALTY
Tex. Fin. Code § 185.011PAYMENT OR APPEAL OF ADMINISTRATIVE PENALTY
Tex. Fin. Code § 185.012CONFIDENTIALITY OF RECORDS
Tex. Fin. Code § 185.013COLLECTION OF FEES
Tex. Fin. Code § 185.1001APPLICABILITY TO STATE TRUST COMPANY SUBSIDIARIES
Tex. Fin. Code § 185.101ORDER OF SUPERVISION
Tex. Fin. Code § 185.102ORDER OF CONSERVATORSHIP
Tex. Fin. Code § 185.103HEARING
Tex. Fin. Code § 185.104POST-HEARING ORDER
Tex. Fin. Code § 185.105CONFIDENTIALITY OF RECORDS
Tex. Fin. Code § 185.106DUTIES OF STATE TRUST COMPANY UNDER SUPERVISION
Tex. Fin. Code § 185.107POWERS AND DUTIES OF CONSERVATOR
Tex. Fin. Code § 185.108QUALIFICATIONS OF APPOINTEE
Tex. Fin. Code § 185.109EXPENSES
Tex. Fin. Code § 185.110REVIEW OF SUPERVISOR OR CONSERVATOR DECISIONS
Tex. Fin. Code § 185.111SUIT FILED AGAINST OR ON BEHALF OF STATE TRUST COMPANY UNDER SUPERVISION OR CONSERVATORSHIP
Tex. Fin. Code § 185.112DURATION
Tex. Fin. Code § 185.113ADMINISTRATIVE ELECTION OF REMEDIES
Tex. Fin. Code § 185.114RELEASE BEFORE HEARING
Tex. Fin. Code § 185.201INVESTIGATION OF UNAUTHORIZED TRUST ACTIVITY
Tex. Fin. Code § 185.202SUBPOENA AUTHORITY
Tex. Fin. Code § 185.203ENFORCEMENT OF SUBPOENA
Tex. Fin. Code § 185.204CONFIDENTIALITY OF SUBPOENAED RECORDS
Tex. Fin. Code § 185.205EVIDENCE
Tex. Fin. Code § 185.206CEASE AND DESIST ORDER REGARDING UNAUTHORIZED TRUST ACTIVITY
Tex. Fin. Code § 185.207EMERGENCY CEASE AND DESIST ORDER
Tex. Fin. Code § 185.208APPEAL OF CEASE AND DESIST ORDER
Tex. Fin. Code § 185.209VIOLATION OF FINAL CEASE AND DESIST ORDER
Tex. Fin. Code § 185.210ADMINISTRATIVE PENALTY
Tex. Fin. Code § 185.211PAYMENT AND APPEAL OF ADMINISTRATIVE PENALTY
Tex. Fin. Code § 185.212JUDICIAL REVIEW OF ADMINISTRATIVE PENALTY
Tex. Fin. Code § 186.001DEFINITION
Tex. Fin. Code § 186.002REMEDIES EXCLUSIVE
Tex. Fin. Code § 186.003FEDERAL DEPOSIT INSURANCE CORPORATION AS LIQUIDATOR
Tex. Fin. Code § 186.004APPOINTMENT OF INDEPENDENT RECEIVER
Tex. Fin. Code § 186.005SUCCESSION OF TRUST POWERS
Tex. Fin. Code § 186.101INITIATING VOLUNTARY DISSOLUTION
Tex. Fin. Code § 186.102FILING RESOLUTIONS WITH BANKING COMMISSIONER
Tex. Fin. Code § 186.103BANKING COMMISSIONER INVESTIGATION AND CONSENT
Tex. Fin. Code § 186.104NOTICE OF PENDING DISSOLUTION
Tex. Fin. Code § 186.105SAFE DEPOSITS AND OTHER BAILMENTS
Tex. Fin. Code § 186.106OFFICES TO REMAIN OPEN
Tex. Fin. Code § 186.107FIDUCIARY ACTIVITIES
Tex. Fin. Code § 186.108FINAL LIQUIDATION
Tex. Fin. Code § 186.109APPLICATION OF LAW TO STATE TRUST COMPANY IN DISSOLUTION
Tex. Fin. Code § 186.110AUTHORIZATION OF DEVIATION FROM PROCEDURES
Tex. Fin. Code § 186.111CLOSURE BY BANKING COMMISSIONER FOR INVOLUNTARY DISSOLUTION AND LIQUIDATION
Tex. Fin. Code § 186.112APPLICATION FOR NEW CHARTER
Tex. Fin. Code § 186.201ACTION TO CLOSE STATE TRUST COMPANY
Tex. Fin. Code § 186.202NOTICE AND EFFECT OF CLOSURE; APPOINTMENT OF RECEIVER
Tex. Fin. Code § 186.203NATURE AND DURATION OF RECEIVERSHIP
Tex. Fin. Code § 186.204CONTEST OF LIQUIDATION
Tex. Fin. Code § 186.205NOTICE OF STATE TRUST COMPANY CLOSING
Tex. Fin. Code § 186.206INVENTORY
Tex. Fin. Code § 186.207RECEIVER'S TITLE AND PRIORITY
Tex. Fin. Code § 186.208RIGHTS FIXED
Tex. Fin. Code § 186.209DEPOSITORIES
Tex. Fin. Code § 186.210PENDING LAWSUIT
Tex. Fin. Code § 186.211NEW LAWSUIT
Tex. Fin. Code § 186.212OBTAINING RECORD OR OTHER PROPERTY IN POSSESSION OF OTHER PERSON
Tex. Fin. Code § 186.213INJUNCTION IN AID OF LIQUIDATION
Tex. Fin. Code § 186.214SUBPOENA
Tex. Fin. Code § 186.215EXECUTORY CONTRACT; ORAL AGREEMENT
Tex. Fin. Code § 186.216PREFERENCES
Tex. Fin. Code § 186.217EMPLOYEES OF RECEIVER
Tex. Fin. Code § 186.218DISPOSAL OF PROPERTY; SETTLING OF CLAIM
Tex. Fin. Code § 186.219COURT ORDER; NOTICE AND HEARING
Tex. Fin. Code § 186.220RECEIVER'S REPORTS; EXPENSES
Tex. Fin. Code § 186.221COURT-ORDERED AUDIT
Tex. Fin. Code § 186.222SAFE DEPOSITS AND OTHER BAILMENTS
Tex. Fin. Code § 186.223FIDUCIARY ACTIVITIES
Tex. Fin. Code § 186.224DISPOSITION AND MAINTENANCE OF RECORDS
Tex. Fin. Code § 186.225RECORDS ADMITTED
Tex. Fin. Code § 186.226RESUMPTION OF BUSINESS
Tex. Fin. Code § 186.227ASSETS DISCOVERED AFTER CLOSE OF RECEIVERSHIP
Tex. Fin. Code § 186.301FILING CLAIM
Tex. Fin. Code § 186.302PROOF OF CLAIM
Tex. Fin. Code § 186.303JUDGMENT AS PROOF OF CLAIM
Tex. Fin. Code § 186.304SECURED CLAIM
Tex. Fin. Code § 186.305UNLIQUIDATED OR UNDETERMINED CLAIM
Tex. Fin. Code § 186.306SET-OFF
Tex. Fin. Code § 186.307ACTION ON CLAIM
Tex. Fin. Code § 186.308OBJECTION TO APPROVED CLAIM
Tex. Fin. Code § 186.309APPEAL OF REJECTED CLAIM
Tex. Fin. Code § 186.310PAYMENT OF CLAIM
Tex. Fin. Code § 186.311PRIORITY OF CLAIMS AGAINST INSURED STATE TRUST COMPANY
Tex. Fin. Code § 186.312PRIORITY OF CLAIMS AGAINST UNINSURED STATE TRUST COMPANY
Tex. Fin. Code § 186.313EXCESS ASSETS
Tex. Fin. Code § 186.314UNCLAIMED PROPERTY
Tex. Fin. Code § 187.001DEFINITIONS
Tex. Fin. Code § 187.002COMPANIES AUTHORIZED TO CONDUCT A TRUST BUSINESS
Tex. Fin. Code § 187.003INTERSTATE TRUST BUSINESS OF STATE TRUST COMPANY
Tex. Fin. Code § 187.004TRUST BUSINESS OF OUT-OF-STATE TRUST COMPANY
Tex. Fin. Code § 187.005DESIGNATION OF TRUSTEE AND GOVERNING LAW
Tex. Fin. Code § 187.006TAXATION
Tex. Fin. Code § 187.007SEVERABILITY
Tex. Fin. Code § 187.101TRUST OFFICES IN THIS STATE
Tex. Fin. Code § 187.102ESTABLISHING AN INTERSTATE TRUST OFFICE
Tex. Fin. Code § 187.103ACQUIRING AN INTERSTATE TRUST OFFICE
Tex. Fin. Code § 187.104REQUIREMENT OF NOTICE
Tex. Fin. Code § 187.105CONDITIONS FOR APPROVAL
Tex. Fin. Code § 187.106ADDITIONAL TRUST OFFICES
Tex. Fin. Code § 187.201REPRESENTATIVE TRUST OFFICE BUSINESS
Tex. Fin. Code § 187.202REGISTRATION OF REPRESENTATIVE TRUST OFFICE
Tex. Fin. Code § 187.301COOPERATIVE AGREEMENTS; FEES
Tex. Fin. Code § 187.302EXAMINATIONS; PERIODIC REPORTS
Tex. Fin. Code § 187.303INTERPRETIVE STATEMENTS AND OPINIONS
Tex. Fin. Code § 187.304CONFIDENTIAL INFORMATION
Tex. Fin. Code § 187.305ENFORCEMENT; APPEALS
Tex. Fin. Code § 187.306NOTICE OF SUBSEQUENT EVENT
Tex. Fin. Code § 199.001SLANDER OR LIBEL OF STATE TRUST COMPANY
Tex. Fin. Code § 199.002AUTHORITY TO ACT AS NOTARY PUBLIC
Tex. Fin. Code § 199.003SUCCESSION OF TRUST POWERS
Tex. Fin. Code § 199.004DISCOVERY OF CLIENT RECORDS
Tex. Fin. Code § 199.005COMPLIANCE REVIEW COMMITTEE

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