Tex. Finance Code Sec. 152.251. LIABILITY OF MONEY TRANSMISSION LICENSEE. A money transmission licensee is liable for the payment of all money or monetary value received for transmission directly or by an authorized delegate appointed under this subchapter.


Tex. Finance Code Sec. 152.252. RELATIONSHIP BETWEEN MONEY TRANSMISSION LICENSEE AND AUTHORIZED DELEGATE.


Tex. Finance Code Sec. 152.253. DISCLOSURE REQUIREMENTS.


Tex. Finance Code Sec. 152.254. UNAUTHORIZED ACTIVITIES. A person may not engage in the business of money transmission on behalf of a person not licensed under this chapter or not exempt under Section 152.004. A person who engages in unauthorized activity provides money transmission to the same extent as if the person were a money transmission licensee, and shall be jointly and severally liable with the unlicensed or nonexempt person. Any business for which a license is required under this chapter that is conducted by an authorized delegate outside the scope of authority conferred in the contract between the authorized delegate and the licensee is unlicensed activity.


Tex. Finance Code Sec. 152.301. TIMELY TRANSMISSION.


Tex. Finance Code Sec. 152.302. REFUNDS.


Tex. Finance Code Sec. 152.303. RECEIPTS.


Tex. Finance Code Sec. 152.304. DISCLOSURES FOR PAYROLL PROCESSING SERVICES.


Tex. Finance Code Sec. 152.305. PROHIBITION ON IMPOSITION OF FINE OR PENALTY FOR TERMS OF SERVICE VIOLATION.


Tex. Finance Code Sec. 152.351. NET WORTH OF MONEY TRANSMISSION LICENSEE.


Tex. Finance Code Sec. 152.352. SECURITY FOR MONEY TRANSMISSION LICENSEE.


Tex. Finance Code Sec. 152.353. SECURITY FOR CURRENCY EXCHANGE LICENSEE.


Tex. Finance Code Sec. 152.354. ADDITIONAL SECURITY REQUIREMENTS.


Tex. Finance Code Sec. 152.355. MAINTENANCE OF PERMISSIBLE INVESTMENTS BY MONEY TRANSMISSION LICENSEE.


Tex. Finance Code Sec. 152.356. TYPES OF PERMISSIBLE INVESTMENTS.


Tex. Finance Code Sec. 152.401. INJUNCTIVE RELIEF.


Tex. Finance Code Sec. 152.402. CEASE AND DESIST ORDERS FOR UNLICENSED PERSONS.


Tex. Finance Code Sec. 152.403. SUSPENSION AND REVOCATION OF MONEY SERVICES LICENSE.


Tex. Finance Code Sec. 152.404. SUSPENSION AND REVOCATION OF AUTHORIZED DELEGATE DESIGNATION.


Tex. Finance Code Sec. 152.405. CEASE AND DESIST ORDERS FOR MONEY SERVICES LICENSEE OR AUTHORIZED DELEGATE.


Tex. Finance Code Sec. 152.406. CONSENT ORDERS.


Tex. Finance Code Sec. 152.407. ADMINISTRATIVE PENALTY.


Tex. Finance Code Sec. 152.408. CRIMINAL PENALTY.


Tex. Finance Code Sec. 152.409. NOTICE, HEARING, AND OTHER PROCEDURES FOR NONEMERGENCY ORDERS.


Tex. Finance Code Sec. 152.410. REQUIREMENTS AND NOTICE AND HEARING PROCEDURES FOR EMERGENCY ORDERS.


Tex. Finance Code Sec. 152.411. REMOVAL OR PROHIBITION ORDER.


Tex. Finance Code Sec. 152.412. REMOVAL OR PROHIBITION ORDERS IN RESPONSE TO CERTAIN CRIMINAL OFFENSES.


Tex. Finance Code Sec. 152.413. APPLICATION FOR RELEASE FROM FINAL REMOVAL OR PROHIBITION ORDER.


Tex. Finance Code Sec. 152.451. ADMINISTRATIVE PROCEDURES.


Tex. Finance Code Sec. 154.001. PURPOSE. The purposes of this chapter are to:


Tex. Finance Code Sec. 154.002. DEFINITIONS. In this chapter:


Tex. Finance Code Sec. 154.003. EFFECT ON INSURANCE LAWS. Except as provided by Section 154.004, this chapter does not affect the Insurance Code.


Tex. Finance Code Sec. 154.004. GROUP INSURANCE CONTRACTS.


Tex. Finance Code Sec. 154.051. ADMINISTRATION OF CHAPTER; FEES.


Tex. Finance Code Sec. 154.052. ANNUAL REPORT.


Tex. Finance Code Sec. 154.053. RECORDS; EXAMINATION.


Tex. Finance Code Sec. 154.054. EXAMINATION FEE.


Tex. Finance Code Sec. 154.055. DISCLOSURE OF CERTAIN INFORMATION; CONFIDENTIALITY.


Tex. Finance Code Sec. 154.056. PAYMENT OF RESTITUTION MONEY. The department shall pay money received under a restitution order to the injured party as ordered.


Tex. Finance Code Sec. 154.101. PERMIT REQUIREMENT. A person must hold a permit issued under this subchapter to:


Tex. Finance Code Sec. 154.102. PERMIT APPLICATION; FEE. To obtain a permit to sell or continue to sell prepaid funeral benefits, a person must:


Tex. Finance Code Sec. 154.103. ISSUANCE OF PERMIT.


Tex. Finance Code Sec. 154.104. TERM OF PERMIT.


Tex. Finance Code Sec. 154.105. PROHIBITION ON TRANSFER OF PERMIT. A permit is not transferable.


Tex. Finance Code Sec. 154.106. TRANSFER OF BUSINESS OWNERSHIP.


Tex. Finance Code Sec. 154.107. REQUIRED RENEWAL FOR SELLERS.


Tex. Finance Code Sec. 154.108. RENEWAL FEE. The commission shall set the renewal fee under Section 154.051.


Tex. Finance Code Sec. 154.109. GROUNDS FOR CANCELLATION OR SUSPENSION OF OR REFUSAL TO RENEW PERMIT.


Tex. Finance Code Sec. 154.110. ORDER TO CANCEL, SUSPEND, OR REFUSE TO RENEW PERMIT.


Tex. Finance Code Sec. 154.111. SUCCESSOR PERMIT HOLDER.


Tex. Finance Code Sec. 154.131. BROCHURE.


Tex. Finance Code Sec. 154.132. WEBSITE.


Tex. Finance Code Sec. 154.133. REFERENCE OR LINK TO WEBSITE. Any sales literature or a website that offers or promotes the sale of prepaid funeral benefits contracts to the public must include a reference or link to the Internet website required under Section 154.132.


Tex. Finance Code Sec. 154.151. FORM OF CONTRACT.


Tex. Finance Code Sec. 154.1511. CASH ADVANCE ITEMS: NON-GUARANTEED MERCHANDISE AND SERVICES.


Tex. Finance Code Sec. 154.152. REPRESENTATIONS REGARDING APPROVAL OF PERMIT HOLDER. A permit holder may represent that the department has approved or otherwise chosen a prepaid funeral vendor only with the following language: "The Texas Banking Department regulates the sale of prearranged funeral contracts" and "The form of this contract has been approved by the Department."


Tex. Finance Code Sec. 154.153. ALLOCATION OF SALES PRICE. A seller may not increase the sales price of an item not covered by this chapter to allocate a lesser sales price to an item covered by this chapter.


Tex. Finance Code Sec. 154.154. AGREEMENT TO PAY FINANCE CHARGE. A purchaser of a prepaid funeral benefits contract may agree in writing to pay the seller a finance charge in accordance with Chapter 345 on an amount due the seller on the contract.


Tex. Finance Code Sec. 154.155. CANCELLATION OF CONTRACT.


Tex. Finance Code Sec. 154.1551. MODIFICATION AT TIME OF FUNERAL.


Tex. Finance Code Sec. 154.156. WAIVER OF RIGHT OF CANCELLATION.


Tex. Finance Code Sec. 154.157. PERFORMANCE OF CONTRACT. Delivery of funeral merchandise before death is not performance, in whole or in part, of a prepaid funeral benefits contract entered into after July 15, 1963.


Tex. Finance Code Sec. 154.158. ENFORCEMENT OF CONTRACT. A seller that violates Section 154.101 may not enforce a prepaid funeral benefits contract, but the purchaser or an heir or legal representative of the purchaser is entitled to recover:


Tex. Finance Code Sec. 154.159. ADMINISTRATION OF MONEY RECEIVED. Money received for prepaid funeral benefits shall be administered as prescribed by Section 154.155 and Subchapters E and F, as applicable.


Tex. Finance Code Sec. 154.160. AGENT; DEPOSIT OF MONEY.


Tex. Finance Code Sec. 154.161. RESPONSIBILITIES OF FUNERAL PROVIDER.


Tex. Finance Code Sec. 154.201. REQUIREMENTS FOR SOLICITATION OF INSURANCE-FUNDED BENEFITS. A seller may not solicit an individual's designation of prepaid funeral benefits to be paid from an insurance policy, unless the insurance policy meets the requirements of Section 154.2021.


Tex. Finance Code Sec. 154.202. EXECUTION OF CONTRACT IN CONJUNCTION WITH APPLICATION FOR POLICY. An insurance-funded prepaid funeral benefits contract must be executed in conjunction with the application for the issuance of the insurance policy.


Tex. Finance Code Sec. 154.2021. REQUIREMENTS FOR INSURANCE POLICIES.


Tex. Finance Code Sec. 154.203. PAYMENT OF PREMIUMS.


Tex. Finance Code Sec. 154.204. CONVERSION FROM TRUST-FUNDED PREPAID FUNERAL BENEFITS.


Tex. Finance Code Sec. 154.205. CANCELLATION OF INSURANCE-FUNDED CONTRACT.


Tex. Finance Code Sec. 154.206. ASSIGNMENT OF RIGHT TO BENEFITS.


Tex. Finance Code Sec. 154.207. RECEIPT OF BENEFITS PAYABLE UNDER POLICY.


Tex. Finance Code Sec. 154.208. ADVISORY COMMITTEE.


Tex. Finance Code Sec. 154.251. APPLICABILITY.


Tex. Finance Code Sec. 154.252. RETENTION OF MONEY FOR EXPENSES. The seller of a trust-funded prepaid funeral benefits contract may retain for the seller's use and benefit an amount not to exceed one-half of all money collected or paid until the seller has received an amount equal to 10 percent of the total amount the purchaser agreed to pay under the contract.


Tex. Finance Code Sec. 154.253. DEPOSIT OF MONEY PAID OR COLLECTED.


Tex. Finance Code Sec. 154.254. AMOUNT PAYABLE ON CANCELLATION OF CONTRACT. A purchaser of a trust-funded prepaid funeral benefits contract who cancels the contract during the first year of the contract when payments required under the contract are current is entitled to receive, regardless of the amount held in trust, the greater of:


Tex. Finance Code Sec. 154.255. STANDARD OF DUTY OF DEPOSITORY. A depository described by Section 154.253(a)(1) shall be held to the standard of duty of a fiduciary in holding, investing, or disbursing the money.


Tex. Finance Code Sec. 154.256. STANDARD OF DUTY OF TRUSTEE. A trustee described by Section 154.253(a)(2) shall be held to the standard of duty of a trustee under the Texas Trust Code (Subtitle B, Title 9, Property Code), provided that the provisions of the Texas Trust Code may not be expanded, restricted, eliminated, or otherwise altered by the provisions of the trust instrument in a manner that is inconsistent with the purposes, terms, distribution requirements, and other circumstances of a trust established under this chapter. In administering assets held in a prepaid funeral benefits trust, a trustee shall consider the trust beneficiaries to include the following two classes of persons to the extent of any beneficial interest:


Tex. Finance Code Sec. 154.257. INVESTMENT PLAN.


Tex. Finance Code Sec. 154.258. INVESTMENT AND MANAGEMENT OF TRUST ASSETS.


Tex. Finance Code Sec. 154.260. USE OF MONEY TO PURCHASE, LEASE, OR INVEST IN ASSET OWNED BY SELLER OR FUNERAL PROVIDER.


Tex. Finance Code Sec. 154.261. WITHDRAWAL OF EARNINGS TO PAY CERTAIN EXPENSES.


Tex. Finance Code Sec. 154.262. WITHDRAWAL OF MONEY ON DEATH OF BENEFICIARY.


Tex. Finance Code Sec. 154.263. WITHDRAWAL OF EARNINGS ATTRIBUTABLE TO CONTRACT. On the maturity date of a trust-funded prepaid funeral benefits contract as provided by Section 154.262 and after the funeral provider has performed its obligations under the contract, or at the time of cancellation of the contract as provided by Section 154.155 or 154.254, the seller may withdraw from an account described by Section 154.253:


Tex. Finance Code Sec. 154.264. ACCOUNTING RECORDS. A seller shall maintain accounting records showing the amount deposited or invested under this subchapter with respect to each contract.


Tex. Finance Code Sec. 154.265. DEFAULT UNDER CERTAIN CONTRACTS.


Tex. Finance Code Sec. 154.301. PRESUMPTION OF ABANDONMENT.


Tex. Finance Code Sec. 154.302. NOTICE OF ABANDONED MONEY. On March 1 of each year, a seller that holds money presumed abandoned under Section 154.301(b) shall furnish the commissioner with an acknowledged written notice of the abandoned money not later than the following June 1. The notice must include:


Tex. Finance Code Sec. 154.303. AUTHORIZATION TO WITHDRAW MONEY.


Tex. Finance Code Sec. 154.304. DELIVERY TO COMPTROLLER OF ABANDONED MONEY AND REPORT. Not later than the first July 1 after the date a seller is required to furnish notice to the commissioner under Section 154.302, the seller shall deliver to the comptroller:


Tex. Finance Code Sec. 154.305. DISCHARGE OF CONTRACTUAL OBLIGATIONS; INDEMNITY OF SELLER.


Tex. Finance Code Sec. 154.306. LIABILITY AND OBLIGATIONS OF COMPTROLLER.


Tex. Finance Code Sec. 154.307. RECOURSE OF PURCHASER OR BENEFICIARY. A purchaser's or beneficiary's sole recourse after a seller has delivered abandoned money and reported to the comptroller under Section 154.304 is to file a claim with the comptroller as provided by Chapter 74, Property Code.


Tex. Finance Code Sec. 154.351. MAINTENANCE OF GUARANTY FUND.


Tex. Finance Code Sec. 154.352. ASSESSMENT ON SALES CONTRACTS.


Tex. Finance Code Sec. 154.3525. ASSESSMENT ON INSURANCE-FUNDED CONTRACTS.


Tex. Finance Code Sec. 154.353. DEPOSIT OF FUND OR PORTION OF FUND.


Tex. Finance Code Sec. 154.354. USE OF FUND EARNINGS. The department may use the earnings from the fund to operate and maintain the fund.


Tex. Finance Code Sec. 154.355. ADVISORY COUNCIL.


Tex. Finance Code Sec. 154.3551. LIMIT ON LIABILITY.


Tex. Finance Code Sec. 154.356. ASSESSMENT ON OUTSTANDING TRUST-FUNDED CONTRACTS TO PAY CLAIMS.


Tex. Finance Code Sec. 154.3565. ASSESSMENT ON OUTSTANDING INSURANCE-FUNDED CONTRACTS TO PAY CLAIMS.


Tex. Finance Code Sec. 154.357. CLAIM AGAINST SELLER, FUNERAL PROVIDER, OR DEPOSITORY. The department may assert a claim against a seller, funeral provider, or depository that commits a violation of this chapter that could result in a claim against the fund.


Tex. Finance Code Sec. 154.358. CLAIMS AGAINST FUND.


Tex. Finance Code Sec. 154.359. PERMISSIBLE USES OF FUND.


Tex. Finance Code Sec. 154.3595. DEFAULT BY FUNERAL PROVIDER.


Tex. Finance Code Sec. 154.360. SUBROGATION.


Tex. Finance Code Sec. 154.400. INVESTIGATION AND SUBPOENA AUTHORITY.


Tex. Finance Code Sec. 154.401. CRIMINAL PENALTY FOR CERTAIN VIOLATIONS OF CHAPTER.


Tex. Finance Code Sec. 154.402. CRIMINAL PENALTY RELATING TO DEPOSIT OR WITHDRAWAL OF MONEY.


Tex. Finance Code Sec. 154.403. CRIMINAL PENALTY FOR FAILURE TO FILE REPORT.


Tex. Finance Code Sec. 154.404. CRIMINAL PENALTY FOR FAILURE TO DELIVER MONEY TO DESIGNATED AGENT.


Tex. Finance Code Sec. 154.405. CRIMINAL PENALTY FOR AGENT'S FAILURE TO DEPOSIT CERTAIN MONEY.


Tex. Finance Code Sec. 154.406. ADMINISTRATIVE PENALTY.


Tex. Finance Code Sec. 154.4061. PATTERN OF WILFUL DISREGARD.


Tex. Finance Code Sec. 154.407. INJUNCTIVE RELIEF. The commissioner may sue in a district court in Travis County or the county in which the violation occurred to enjoin a violation or threatened violation of:


Tex. Finance Code Sec. 154.408. CEASE AND DESIST ORDER.


Tex. Finance Code Sec. 154.4081. EMERGENCY ORDER.


Tex. Finance Code Sec. 154.409. SUIT BY ATTORNEY GENERAL.


Tex. Finance Code Sec. 154.410. QUO WARRANTO PROCEEDINGS.


Tex. Finance Code Sec. 154.411. RESTITUTION. The commissioner may issue an order to a person requiring restitution if, after notice and opportunity for hearing, the commissioner finds that the person:


Tex. Finance Code Sec. 154.412. SEIZURE OF PREPAID FUNERAL ACCOUNTS AND RECORDS.


Tex. Finance Code Sec. 154.413. NOTIFICATION OF PURCHASER. Not later than the 30th day after the date prepaid funeral money is seized under Section 154.412, the commissioner may notify each known person who purchased prepaid funeral benefits under a contract from the permit holder whose permit is canceled. The notice must:


Tex. Finance Code Sec. 154.414. LIQUIDATION OF BUSINESS AND AFFAIRS OF PERSON FOLLOWING SEIZURE OF MONEY AND RECORDS. After an order issued under Section 154.412(a) becomes final and unappealable, the commissioner may petition a district court in Travis County or in the county in which a person required to hold a permit under this chapter resides to request the issuance of an order to show cause why the business and affairs of that person should not be liquidated and a receiver appointed by the court for that purpose if:


Tex. Finance Code Sec. 154.415. PROHIBITION ORDER.


Tex. Finance Code Sec. 154.416. APPLICATION FOR RELEASE FROM PROHIBITION ORDER.


Tex. Finance Code Sec. 155.001. DEFINITION. In this chapter, "bond investment company" includes a person that places or sells bonds, certificates, or debentures on the partial payment or installment plan.


Tex. Finance Code Sec. 155.002. DEPOSIT REQUIRED.


Tex. Finance Code Sec. 155.003. FAILURE TO MAKE DEPOSIT.


Tex. Finance Code Sec. 155.004. RECEIVER ON FAILURE OF CORPORATION.


Tex. Finance Code Sec. 155.005. EXCHANGE OF DEPOSIT.


Tex. Finance Code Sec. 155.006. RETURN OF DEPOSIT. The comptroller shall return a deposit of cash or securities made under this chapter to a bond investment company if:


Tex. Finance Code Sec. 155.007. CRIMINAL PENALTY.


Tex. Finance Code Sec. 156.001. SHORT TITLE. This chapter may be cited as the Residential Mortgage Loan Company Licensing and Registration Act.


Tex. Finance Code Sec. 156.002. DEFINITIONS. In this chapter:


Tex. Finance Code Sec. 156.003. SECONDARY MARKET TRANSACTIONS. This chapter does not prohibit a residential mortgage loan originator sponsored by and conducting business for a licensed or registered residential mortgage loan company under this chapter from receiving compensation from a party other than the mortgage applicant for the sale, transfer, assignment, or release of rights on the closing of a mortgage transaction.


Tex. Finance Code Sec. 156.004. DISCLOSURE TO APPLICANT.


Tex. Finance Code Sec. 156.005. AFFILIATED BUSINESS ARRANGEMENTS. Unless prohibited by federal or state law, this chapter may not be construed to prevent affiliated or controlled business arrangements or loan origination services by or between residential mortgage loan originators, sponsored by and conducting business for a licensed or registered residential mortgage loan company under this chapter, and other professionals if the residential mortgage loan originator complies with all applicable federal and state laws permitting those arrangements or services.


Tex. Finance Code Sec. 156.101. ADMINISTRATION AND ENFORCEMENT OF CHAPTER; PARTICIPATION IN NATIONWIDE REGISTRY.


Tex. Finance Code Sec. 156.102. RULEMAKING AUTHORITY.


Tex. Finance Code Sec. 156.103. POWERS OF COMMISSIONER.


Tex. Finance Code Sec. 156.104. MORTGAGE INDUSTRY ADVISORY COMMITTEE.


Tex. Finance Code Sec. 156.105. STANDARD FORMS.


Tex. Finance Code Sec. 156.201. LICENSES REQUIRED.


Tex. Finance Code Sec. 156.2012. REGISTERED FINANCIAL SERVICES COMPANY.


Tex. Finance Code Sec. 156.202. EXEMPTIONS.


Tex. Finance Code Sec. 156.203. APPLICATION; FEES.


Tex. Finance Code Sec. 156.2041. QUALIFICATIONS AND REQUIREMENTS FOR LICENSE: MORTGAGE COMPANY.


Tex. Finance Code Sec. 156.2042. QUALIFICATIONS AND REQUIREMENTS FOR LICENSE: CREDIT UNION SUBSIDIARY ORGANIZATION.


Tex. Finance Code Sec. 156.2043. QUALIFICATIONS AND REQUIREMENTS FOR LICENSE: AUXILIARY MORTGAGE LOAN ACTIVITY COMPANY.


Tex. Finance Code Sec. 156.2044. QUALIFICATIONS AND REQUIREMENTS FOR LICENSE: INDEPENDENT CONTRACTOR LOAN PROCESSOR OR UNDERWRITER COMPANY.


Tex. Finance Code Sec. 156.2046. CONVICTION OF OFFENSE. A person is considered to have been convicted of a criminal offense if:


Tex. Finance Code Sec. 156.206. CRIMINAL AND OTHER BACKGROUND CHECKS.


Tex. Finance Code Sec. 156.207. ISSUANCE OF LICENSE.


Tex. Finance Code Sec. 156.208. RENEWALS.


Tex. Finance Code Sec. 156.2081. REINSTATEMENT AFTER EXPIRATION.


Tex. Finance Code Sec. 156.209. DENIAL OF APPLICATIONS AND RENEWALS.


Tex. Finance Code Sec. 156.210. CONDITIONAL LICENSE. The commissioner may issue a conditional license. The finance commission by rule shall adopt reasonable terms and conditions for a conditional license.


Tex. Finance Code Sec. 156.211. CHANGE OF ADDRESS OR SPONSORSHIP; MODIFICATION OF LICENSE.


Tex. Finance Code Sec. 156.212. MAINTENANCE AND LOCATION OF OFFICES. If a residential mortgage loan company maintains an office separate and distinct from the company's main office, whether located in this state or not, that conducts mortgage business with consumers of this state or regarding residential real estate in this state, the company shall apply for, pay a fee of $50 for, and obtain an additional license to be known as a branch office license for each additional office to be maintained by the company.


Tex. Finance Code Sec. 156.213. MORTGAGE CALL REPORT.


Tex. Finance Code Sec. 156.301. INSPECTIONS; INVESTIGATIONS.


Tex. Finance Code Sec. 156.3011. ISSUANCE AND ENFORCEMENT OF SUBPOENA.


Tex. Finance Code Sec. 156.302. ADMINISTRATIVE PENALTY.


Tex. Finance Code Sec. 156.303. DISCIPLINARY ACTION; CEASE AND DESIST ORDER.


Tex. Finance Code Sec. 156.304. FEE ASSESSMENT AND DISCLOSURE.


Tex. Finance Code Sec. 156.305. RESTITUTION. The commissioner may order a person to make restitution for any amount received by that person in violation of this chapter. A residential mortgage loan company may be required to make restitution for any amount received by a sponsored residential mortgage loan originator in violation of Chapter 157.


Tex. Finance Code Sec. 156.401. HEARINGS AND JUDICIAL REVIEW.


Tex. Finance Code Sec. 156.402. CIVIL ACTIONS AND INJUNCTIVE RELIEF.


Tex. Finance Code Sec. 156.403. BURDEN OF PROOF TO ESTABLISH AN EXEMPTION. The burden of proving an exemption in a proceeding or action brought under this chapter is on the person claiming the benefit of the exemption.


Tex. Finance Code Sec. 156.404. RELIANCE ON WRITTEN NOTICES FROM COMMISSIONER. A person does not violate this chapter with respect to an action taken or omission made in reliance on a written notice, written interpretation, or written report from the commissioner, unless a subsequent amendment to this chapter or a rule adopted under this chapter affects the commissioner's notice, interpretation, or report.


Tex. Finance Code Sec. 156.406. UNLICENSED ACTIVITY.


Tex. Finance Code Sec. 156.501. RECOVERY FUND.


Tex. Finance Code Sec. 156.502. FUNDING.


Tex. Finance Code Sec. 156.503. STATUTE OF LIMITATIONS.


Tex. Finance Code Sec. 156.504. PROCEDURE FOR RECOVERY.


Tex. Finance Code Sec. 156.505. RECOVERY LIMITS.


Tex. Finance Code Sec. 156.506. REVOCATION OR SUSPENSION OF LICENSE FOR PAYMENT FROM RECOVERY FUND.


Tex. Finance Code Sec. 156.507. SUBROGATION. When the commissioner has paid an applicant an amount from the recovery fund under Section 156.504, the commissioner is subrogated to all of the rights of the applicant to the extent of the amount paid. The applicant shall assign all of the applicant's right, title, and interest in any subsequent judgment against the license holder, up to the amount paid by the commissioner. Any amount, including interest, recovered by the commissioner on the assignment shall be deposited to the credit of the fund.


Tex. Finance Code Sec. 156.508. FAILURE TO COMPLY WITH SUBCHAPTER OR RULE ADOPTED BY THE FINANCE COMMISSION. The failure of an applicant under Section 156.504 to comply with a provision of this subchapter relating to the recovery fund or with a rule adopted by the finance commission relating to the fund constitutes a waiver of any rights under this subchapter.


Tex. Finance Code Sec. 156.551. MORTGAGE GRANT FUND.


Tex. Finance Code Sec. 156.552. FUNDING. The mortgage grant fund consists of:


Tex. Finance Code Sec. 156.553. MANAGEMENT OF FUND.


Tex. Finance Code Sec. 156.554. DISBURSEMENT FROM FUND.


Tex. Finance Code Sec. 156.555. PAYMENT OF CLAIMS FOR FRAUDULENT UNLICENSED ACTIVITY.


Tex. Finance Code Sec. 156.556. RULES. The finance commission shall adopt rules to administer this subchapter, including rules governing implementation of Section 156.554 that:


Tex. Finance Code Sec. 157.001. SHORT TITLE. This chapter may be cited as the Mortgage Banker Registration and Residential Mortgage Loan Originator License Act.


Tex. Finance Code Sec. 157.002. DEFINITIONS. In this chapter:


Tex. Finance Code Sec. 157.0021. DISCLOSURE STATEMENT.


Tex. Finance Code Sec. 157.0022. COMPLAINTS.


Tex. Finance Code Sec. 157.0023. RULEMAKING AUTHORITY.


Tex. Finance Code Sec. 157.0024. MORTGAGE INDUSTRY ADVISORY COMMITTEE. The mortgage industry advisory committee shall advise and assist the commissioner with respect to this chapter as provided by Section 156.104.


Tex. Finance Code Sec. 157.003. REGISTRATION REQUIRED.


Tex. Finance Code Sec. 157.004. EXEMPTIONS. This chapter does not apply to:


Tex. Finance Code Sec. 157.005. UPDATE OF REGISTRATION. A mortgage banker shall update information contained in the registration not later than the 10th day after the date the information changes.


Tex. Finance Code Sec. 157.006. REGISTRATION AND ADMINISTRATION FEE. The commissioner may charge a mortgage banker a reasonable fee to cover the costs of the registration and of administering this chapter. The fee may not exceed $500 a year.


Tex. Finance Code Sec. 157.0061. RENEWAL OF REGISTRATION.


Tex. Finance Code Sec. 157.0062. REINSTATEMENT AFTER EXPIRATION OF REGISTRATION.


Tex. Finance Code Sec. 157.009. TERMINATION OF REGISTRATION.


Tex. Finance Code Sec. 157.010. REREGISTRATION.


Tex. Finance Code Sec. 157.012. LICENSE REQUIRED FOR RESIDENTIAL MORTGAGE LOAN ORIGINATORS.


Tex. Finance Code Sec. 157.0121. EXEMPTIONS FROM RESIDENTIAL MORTGAGE LOAN ORIGINATOR REQUIREMENTS.


Tex. Finance Code Sec. 157.013. APPLICATION FOR LICENSE; FEES.


Tex. Finance Code Sec. 157.0131. CONVICTION OF OFFENSE. A person is considered to have been convicted of a criminal offense if:


Tex. Finance Code Sec. 157.0132. CRIMINAL AND OTHER BACKGROUND CHECKS.


Tex. Finance Code Sec. 157.014. ISSUANCE OF RESIDENTIAL MORTGAGE LOAN ORIGINATOR LICENSE.


Tex. Finance Code Sec. 157.0141. CONDITIONAL LICENSE. The commissioner may issue a conditional license. The finance commission by rule shall adopt reasonable terms and conditions for a conditional license.


Tex. Finance Code Sec. 157.015. RENEWAL OF LICENSE.


Tex. Finance Code Sec. 157.016. REINSTATEMENT AFTER EXPIRATION OF LICENSE; NOTICE.


Tex. Finance Code Sec. 157.017. DENIAL OF APPLICATIONS AND RENEWALS.


Tex. Finance Code Sec. 157.019. MODIFICATION OF LICENSE; CHANGE OF SPONSORSHIP.


Tex. Finance Code Sec. 157.020. MORTGAGE CALL REPORT.


Tex. Finance Code Sec. 157.0201. RECOVERY FUND. The recovery fund established, administered, and maintained under Section 13.016 and Subchapter F, Chapter 156, shall be used as provided by Subchapter F, Chapter 156, to reimburse residential mortgage loan applicants for actual damages incurred because of acts committed by residential mortgage loan originators licensed under this chapter when the act was committed.


Tex. Finance Code Sec. 157.02012. STANDARD FORMS.


Tex. Finance Code Sec. 157.02013. SECONDARY MARKET TRANSACTIONS. This chapter does not prohibit a residential mortgage loan originator sponsored by and conducting business for a registered mortgage banker under this chapter from receiving compensation from a party other than the mortgage applicant for the sale, transfer, assignment, or release of rights on the closing of a mortgage transaction.


Tex. Finance Code Sec. 157.02014. AFFILIATED BUSINESS ARRANGEMENTS. Unless prohibited by federal or state law, this chapter may not be construed to prevent affiliated or controlled business arrangements or loan origination services by or between residential mortgage loan originators sponsored by and conducting business for a registered mortgage banker under this chapter and other professionals if the residential mortgage loan originator complies with all applicable federal and state laws permitting those arrangements or services.


Tex. Finance Code Sec. 157.02015. RULEMAKING AUTHORITY WITH RESPECT TO RESIDENTIAL MORTGAGE LOAN ORIGINATORS.


Tex. Finance Code Sec. 157.02016. ADMINISTRATION OF SUBCHAPTER. The commissioner shall administer and enforce this subchapter.


Tex. Finance Code Sec. 157.021. INSPECTION; INVESTIGATIONS.


Tex. Finance Code Sec. 157.0211. MULTI-STATE EXAMINATION AUTHORITY OF RESIDENTIAL MORTGAGE LOAN SERVICER. To ensure that mortgage bankers that act as residential mortgage loan servicers operate in this state in compliance with this chapter and with other law in accordance with this chapter, the commissioner or the commissioner's designee may participate in multi-state mortgage examinations as scheduled by the Conference of State Bank Supervisors Multi-State Mortgage Committee or by the Consumer Financial Protection Bureau in accordance with the protocol for such examinations.


Tex. Finance Code Sec. 157.022. ISSUANCE AND ENFORCEMENT OF SUBPOENA.


Tex. Finance Code Sec. 157.023. ADMINISTRATIVE PENALTY.


Tex. Finance Code Sec. 157.024. DISCIPLINARY ACTION; CEASE AND DESIST ORDER.


Tex. Finance Code Sec. 157.0241. REVOCATION OR SUSPENSION OF LICENSE FOR PAYMENT FROM RECOVERY FUND.


Tex. Finance Code Sec. 157.025. RESTITUTION. The commissioner may order a residential mortgage loan originator to make restitution for any amount received by that person in violation of this chapter or Chapter 156.


Tex. Finance Code Sec. 157.026. HEARINGS AND JUDICIAL REVIEW.


Tex. Finance Code Sec. 157.027. CIVIL ACTIONS AND INJUNCTIVE RELIEF.


Tex. Finance Code Sec. 157.028. BURDEN OF PROOF TO ESTABLISH AN EXEMPTION. The burden of proving an exemption in a proceeding or action brought under this chapter is on the person claiming the benefit of the exemption.


Tex. Finance Code Sec. 157.029. RELIANCE ON WRITTEN NOTICES FROM THE COMMISSIONER. A person does not violate this chapter with respect to an action taken or omission made in reliance on a written notice, written interpretation, or written report from the commissioner unless a subsequent amendment to this chapter or a rule adopted under this chapter affects the commissioner's notice, interpretation, or report.


Tex. Finance Code Sec. 157.030. COMPLETION OF RESIDENTIAL MORTGAGE ORIGINATION SERVICES.


Tex. Finance Code Sec. 157.031. UNLICENSED ACTIVITY; OFFENSE.


Tex. Finance Code Sec. 157.032. POWERS OF COMMISSIONER.


Tex. Finance Code Sec. 158.001. SHORT TITLE. This chapter may be cited as the Residential Mortgage Loan Servicer Registration Act.


Tex. Finance Code Sec. 158.002. DEFINITIONS. In this chapter:


Tex. Finance Code Sec. 158.003. PURPOSE; RULES.


Tex. Finance Code Sec. 158.051. REGISTRATION REQUIRED. A person may not act as a residential mortgage loan servicer, directly or indirectly, for a residential mortgage loan secured by a lien on residential real estate in this state unless the person is registered under this chapter or is exempt under Section 158.052.


Tex. Finance Code Sec. 158.052. EXEMPTIONS; APPLICABILITY.


Tex. Finance Code Sec. 158.053. APPLICATION FOR REGISTRATION; FEE.


Tex. Finance Code Sec. 158.054. UPDATE OF REGISTRATION. A registrant shall notify the commissioner of a change in any of the information provided in the registration application not later than the 30th day after the date the information changes.


Tex. Finance Code Sec. 158.055. BOND.


Tex. Finance Code Sec. 158.056. APPROVAL OF REGISTRATION. The commissioner shall approve an application for registration under this chapter on the applicant's payment of the required fees and the commissioner's approval of the surety bond.


Tex. Finance Code Sec. 158.057. NOTICE OF CHANGE OF REGISTRANT'S CONDITION.


Tex. Finance Code Sec. 158.058. RENEWAL OF REGISTRATION.


Tex. Finance Code Sec. 158.059. REVOCATION OF REGISTRATION. The commissioner may, after notice and hearing, revoke a registration under this chapter if:


Tex. Finance Code Sec. 158.060. APPEAL OF CERTAIN COMMISSIONER ACTIONS. The denial, nonrenewal, or revocation by the commissioner of a registration under this chapter and the appeal of that action are governed by Chapter 2001, Government Code.


Tex. Finance Code Sec. 158.101. DISCLOSURE STATEMENT. A registrant shall provide to the borrower of each residential mortgage loan the following notice not later than the 30th day after the registrant commences servicing the loan:


Tex. Finance Code Sec. 158.102. INVESTIGATION OF COMPLAINTS AGAINST REGISTRANT; SURCHARGE.


Tex. Finance Code Sec. 158.103. ACTION ON COMPLAINT.


Tex. Finance Code Sec. 158.104. MULTI-STATE EXAMINATION AUTHORITY. To ensure that residential mortgage loan servicers to whom this chapter applies operate in this state in compliance with this chapter and with other law in accordance with this chapter, the commissioner or the commissioner's designee may participate in multi-state mortgage examinations as scheduled by the Conference of State Bank Supervisors Multi-State Mortgage Committee or by the Consumer Financial Protection Bureau in accordance with the protocol for such examinations.


Tex. Finance Code Sec. 158.1045. ISSUANCE AND ENFORCEMENT OF SUBPOENA.


Tex. Finance Code Sec. 158.105. CEASE AND DESIST ORDER.


Tex. Finance Code Sec. 158.106. RESTITUTION. The commissioner may order a residential mortgage loan servicer to pay to a complainant any compensation received by the servicer in a violation cited by the commissioner in a final order.


Tex. Finance Code Sec. 159.001. DEFINITIONS. In this chapter:


Tex. Finance Code Sec. 159.002. INAPPLICABILITY OF CHAPTER.


Tex. Finance Code Sec. 159.003. EXEMPTIONS.


Tex. Finance Code Sec. 159.051. LICENSE OR REGISTRATION REQUIRED. A person may not originate or make a wrap mortgage loan unless the person is licensed or registered to originate or make residential mortgage loans under Chapter 156, 157, or 342 or is exempt from licensing or registration as provided under an applicable provision of those chapters.


Tex. Finance Code Sec. 159.101. DISCLOSURE STATEMENT; OPTION TO RESCIND.


Tex. Finance Code Sec. 159.102. FOREIGN LANGUAGE REQUIREMENT. If the negotiations that precede the execution of the wrap mortgage loan agreement are conducted primarily in a language other than English, the wrap lender shall provide a copy of a written disclosure statement required under Section 159.101 of this code or Section 5.016, Property Code, in that language to the wrap borrower.


Tex. Finance Code Sec. 159.103. FAILURE TO PROVIDE DISCLOSURE: TOLLING OF LIMITATIONS. If a wrap lender fails to provide the disclosure statement as required by Section 159.101 or fails to provide the disclosure statement in the language required by Section 159.102, the limitations period applicable to any cause of action of the wrap borrower against the wrap lender arising out of the wrap lender's violation of a law of this state in connection with the wrap mortgage loan transaction is tolled until the 120th day after the date the required disclosure statement is provided.


Tex. Finance Code Sec. 159.104. FAILURE TO PROVIDE DISCLOSURE BEFORE CLOSING; RIGHT OF RESCISSION.


Tex. Finance Code Sec. 159.105. ENFORCEABILITY OF WRAP LIEN. A lien securing a wrap mortgage loan is void unless the wrap mortgage loan and the conveyance of the residential real estate securing the loan are closed by an attorney or a title company.


Tex. Finance Code Sec. 159.106. BORROWER'S RIGHT OF ACTION.


Tex. Finance Code Sec. 159.107. WAIVER OR AVOIDANCE PROHIBITED.


Tex. Finance Code Sec. 159.108. RULEMAKING AUTHORITY. The finance commission may adopt and enforce rules necessary for the intent of or to ensure compliance with this subchapter.


Tex. Finance Code Sec. 159.151. MONEY HELD IN TRUST. A person who collects or receives a payment from a wrap borrower under the terms of a wrap mortgage loan holds the money in trust for the benefit of the borrower.


Tex. Finance Code Sec. 159.152. FIDUCIARY DUTY. A person who collects or receives a payment from a wrap borrower under the terms of or in connection with a wrap mortgage loan owes a fiduciary duty to the wrap borrower to use the payment to satisfy the obligations of the obligee under each debt described by Section 159.001(7)(A)(ii) and the payment of taxes and insurance for which the wrap lender has received any payments from the wrap borrower.


Tex. Finance Code Sec. 159.201. APPLICABILITY OF SUBCHAPTER. This subchapter applies only to a wrap mortgage loan for a purchase of residential real estate to be used as the wrap borrower's residence.


Tex. Finance Code Sec. 159.202. WRAP BORROWER'S RIGHT TO DEDUCT. The wrap borrower, without taking judicial action, may deduct from any amount owed to the wrap lender under the terms of the wrap mortgage loan:


Tex. Finance Code Sec. 159.251. APPLICABILITY OF SUBCHAPTER. This subchapter applies only to a wrap lender who is required to register as a residential mortgage loan servicer under Chapter 158.


Tex. Finance Code Sec. 159.252. INSPECTION; INVESTIGATION.


Tex. Finance Code Sec. 159.253. ISSUANCE AND ENFORCEMENT OF SUBPOENA.


Tex. Finance Code Sec. 159.301. CEASE AND DESIST ORDER.


Tex. Finance Code Sec. 16.001. DEFINITIONS. In this chapter:


Tex. Finance Code Sec. 16.002. SELF-DIRECTED AND SEMI-INDEPENDENT STATUS OF FINANCIAL REGULATORY AGENCIES. Notwithstanding any other provision of law, a financial regulatory agency is self-directed and semi-independent as specified by this chapter. Any Act of the 81st Legislature that relates to a financial regulatory agency and that is inconsistent with the agency being self-directed and semi-independent may be implemented by the financial regulatory agency only on authorization by the policy-making body of the financial regulatory agency.


Tex. Finance Code Sec. 16.003. BUDGET, REVENUES, AND EXPENSES.


Tex. Finance Code Sec. 16.004. AUDITS. This chapter does not affect the duty of the state auditor to audit a financial regulatory agency. The state auditor shall enter into a contract and schedule with each financial regulatory agency to conduct audits, including financial reports and performance audits. The financial regulatory agency shall reimburse the state auditor for all costs incurred in performing the audits and shall provide to the governor a copy of any audit performed.


Tex. Finance Code Sec. 16.005. RECORDS; REPORTING REQUIREMENTS.


Tex. Finance Code Sec. 16.006. ABILITY TO CONTRACT.


Tex. Finance Code Sec. 16.007. PROPERTY. A financial regulatory agency may:


Tex. Finance Code Sec. 16.008. SUITS. The office of the attorney general shall represent a financial regulatory agency in any litigation. The attorney general may assess and collect from the financial regulatory agency reasonable attorney's fees associated with any litigation under this section.


Tex. Finance Code Sec. 16.009. POST-PARTICIPATION LIABILITY.


Tex. Finance Code Sec. 16.010. DUE PROCESS; OPEN GOVERNMENT. A financial regulatory agency is:


Tex. Finance Code Sec. 16.011. MEMBERSHIP IN EMPLOYEES RETIREMENT SYSTEM. Employees of the financial regulatory agencies are members of the Employees Retirement System of Texas under Chapter 812, Government Code, and the agencies' transition to independent status as provided by this chapter has no effect on their membership or any benefits under that system.


Tex. Finance Code Sec. 16.012. GIFTS.


Tex. Finance Code Sec. 160.001. DEFINITIONS. In this chapter:


Tex. Finance Code Sec. 160.002. ADMINISTRATION. The department shall administer this chapter.


Tex. Finance Code Sec. 160.003. APPLICABILITY.


Tex. Finance Code Sec. 160.004. DUTIES OF DIGITAL ASSET SERVICE PROVIDERS.


Tex. Finance Code Sec. 160.005. REQUIREMENTS FOR MONEY TRANSMISSION LICENSE.


Tex. Finance Code Sec. 160.006. RULES. The commission may adopt rules to administer and enforce this chapter, including rules necessary and appropriate to implement and clarify this chapter.


Tex. Finance Code Sec. 180.001. SHORT TITLE. This chapter may be cited as the Texas Secure and Fair Enforcement for Mortgage Licensing Act of 2009.


Tex. Finance Code Sec. 180.002. DEFINITIONS. In this chapter:


Tex. Finance Code Sec. 180.003. EXEMPTION.


Tex. Finance Code Sec. 180.004. ADMINISTRATIVE AUTHORITY; RULEMAKING.


Tex. Finance Code Sec. 180.005. SEVERABILITY. The provisions of this chapter or applications of those provisions are severable as provided by Section 311.032(c), Government Code.


Tex. Finance Code Sec. 180.051. STATE LICENSE REQUIRED; RENEWAL.


Tex. Finance Code Sec. 180.0511. TEMPORARY AUTHORITY TO ORIGINATE LOANS.


Tex. Finance Code Sec. 180.052. ENROLLMENT OR REGISTRATION WITH NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY.


Tex. Finance Code Sec. 180.053. APPLICATION FORM.


Tex. Finance Code Sec. 180.054. CRIMINAL AND OTHER BACKGROUND CHECKS.


Tex. Finance Code Sec. 180.055. ISSUANCE OF LICENSE.


Tex. Finance Code Sec. 180.056. PRELICENSING EDUCATIONAL COURSES.


Tex. Finance Code Sec. 180.057. TESTING REQUIREMENTS.


Tex. Finance Code Sec. 180.058. RECOVERY FUND FEE OR SURETY BOND REQUIREMENT.


Tex. Finance Code Sec. 180.059. STANDARDS FOR LICENSE RENEWAL. A license to act as a residential mortgage loan originator may be renewed on or before its expiration date if the license holder:


Tex. Finance Code Sec. 180.060. CONTINUING EDUCATION COURSES.


Tex. Finance Code Sec. 180.061. RULEMAKING AUTHORITY. A rulemaking authority may adopt rules establishing requirements as necessary for:


Tex. Finance Code Sec. 180.062. CONFIDENTIALITY OF INFORMATION.


Tex. Finance Code Sec. 180.101. MORTGAGE CALL REPORTS. Each licensed residential mortgage loan originator shall submit to the Nationwide Mortgage Licensing System and Registry a report of condition that is in the form and contains the information required by the Nationwide Mortgage Licensing System and Registry.


Tex. Finance Code Sec. 180.102. REPORT OF VIOLATIONS AND ENFORCEMENT ACTIONS. Subject to the confidentiality provisions of this chapter, a regulatory official shall report to the Nationwide Mortgage Licensing System and Registry on a regular basis regarding violations of, enforcement actions under, or information relevant to this chapter or the S.A.F.E. Mortgage Licensing Act under the regulatory official's licensure, regulation, or examination of a licensed residential mortgage loan originator or person registered under the S.A.F.E. Mortgage Licensing Act.


Tex. Finance Code Sec. 180.103. INFORMATION CHALLENGE PROCESS. The applicable rulemaking authority by rule shall establish a process by which licensed residential mortgage loan originators may dispute information submitted by the regulatory official to the Nationwide Mortgage Licensing System and Registry.


Tex. Finance Code Sec. 180.151. DISPLAY OF UNIQUE IDENTIFIER. The unique identifier of a person originating a residential mortgage loan must be clearly shown on each residential mortgage loan application form, solicitation, or advertisement, including business cards and websites, and any other document required by rule of the rulemaking authority.


Tex. Finance Code Sec. 180.152. REPRESENTATIONS. An individual who is engaged exclusively in loan processor or underwriter activities may not represent to the public, through the use of advertising, business cards, stationery, brochures, signs, rate lists, or other means, that the individual can or will perform any of the activities of a residential mortgage loan originator unless the individual is licensed as a residential mortgage loan originator.


Tex. Finance Code Sec. 180.153. PROHIBITED ACTS AND PRACTICES. An individual or other person subject to regulation under this chapter may not:


Tex. Finance Code Sec. 180.171. ENROLLMENT WITH DEPARTMENT OF SAVINGS AND MORTGAGE LENDING.


Tex. Finance Code Sec. 180.201. ENFORCEMENT AUTHORITY. To ensure the effective supervision and enforcement of this chapter, a regulatory official may:


Tex. Finance Code Sec. 180.202. ADMINISTRATIVE PENALTY.


Tex. Finance Code Sec. 180.203. CEASE AND DESIST ORDERS. A regulatory official may:


Tex. Finance Code Sec. 180.251. GENERAL DUTIES OF REGULATORY OFFICIALS.


Tex. Finance Code Sec. 180.252. AUTHORITY OF REGULATORY OFFICIALS TO ESTABLISH RELATIONSHIP WITH NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY; CONTRACTING AUTHORITY. To fulfill the purposes of this chapter, a regulatory official may establish a relationship with or contract with the Nationwide Mortgage Licensing System and Registry or an entity designated by the Nationwide Mortgage Licensing System and Registry to collect and maintain records and process transaction fees or other fees related to licensed residential mortgage loan originators or other persons subject to regulation under this chapter.


Tex. Finance Code Sec. 181.001. SHORT TITLE. This subtitle may be cited as the Texas Trust Company Act.


Tex. Finance Code Sec. 181.002. DEFINITIONS.


Tex. Finance Code Sec. 181.003. TRUST COMPANY RULES.


Tex. Finance Code Sec. 181.004. IMPLYING THAT PERSON IS TRUST COMPANY.


Tex. Finance Code Sec. 181.005. LIABILITY OF TRUST COMPANY DIRECTORS AND PERSONNEL.


Tex. Finance Code Sec. 181.006. EXEMPTION OF TRUST INSTITUTION DIRECTORS AND PERSONNEL FROM SECURITIES LAW. An officer, director, manager, managing participant, or employee of a trust institution with fewer than 500 shareholders or participants, including a state trust company or a trust institution organized under the laws of another state that lawfully maintains an office in this state, or a holding company with fewer than 500 shareholders or participants that controls a trust institution is exempt from the registration and licensing provisions of The Securities Act (Title 12, Government Code) with respect to that person's participation in a transaction, including a sale, involving securities issued by the trust institution or the holding company of which that person is an officer, director, manager, managing participant, or employee if the person is not compensated for the person's participation in the transaction.


Tex. Finance Code Sec. 181.007. ATTACHMENT, INJUNCTION, OR EXECUTION. An attachment, injunction, or execution to collect a money judgment or secure a prospective money judgment against a trust institution, including a state trust company or a trust institution organized under the laws of another state that lawfully maintains an office in this state, or against a client of or client account in the trust institution, is governed by Sections 59.007 and 59.008.


Tex. Finance Code Sec. 181.101. ISSUANCE OF INTERPRETIVE STATEMENTS.


Tex. Finance Code Sec. 181.102. ISSUANCE OF OPINION.


Tex. Finance Code Sec. 181.103. EFFECT OF INTERPRETIVE STATEMENT OR OPINION. An interpretive statement or opinion issued under this subchapter does not have the force of law and is not a rule for the purposes of Chapter 2001, Government Code, unless adopted as a rule by the finance commission as provided by Chapter 2001, Government Code. An interpretive statement or opinion is an administrative construction of this subtitle entitled to great weight if the construction is reasonable and does not conflict with this subtitle.


Tex. Finance Code Sec. 181.104. EXAMINATION REQUIREMENT.


Tex. Finance Code Sec. 181.105. COST OF REGULATION. Each state trust company shall pay, through the imposition and collection of fees established by the finance commission under Section 181.003(a)(4):


Tex. Finance Code Sec. 181.106. REGULATION AND EXAMINATION OF RELATED ENTITIES.


Tex. Finance Code Sec. 181.107. STATEMENTS OF CONDITION AND INCOME; PENALTY.


Tex. Finance Code Sec. 181.108. LIABILITY OF COMMISSION AND DEPARTMENT OFFICERS AND PERSONNEL LIMITED.


Tex. Finance Code Sec. 181.201. BANKING COMMISSIONER HEARING; INFORMAL DISPOSITION.


Tex. Finance Code Sec. 181.202. APPEAL OF BANKING COMMISSIONER DECISION OR ORDER. Except as expressly provided otherwise by this subtitle, a person affected by a decision or order of the banking commissioner made under this subtitle after a hearing may appeal the decision or order to a district court in Travis County as provided by Section 181.204.


Tex. Finance Code Sec. 181.204. APPEAL TO DISTRICT COURT. A person affected by a final order of the banking commissioner may appeal the final order by filing a petition for judicial review as provided by Chapter 2001, Government Code. A petition for judicial review filed in the district court does not stay or vacate the appealed order unless the court, after notice and hearing, expressly stays or vacates the order.


Tex. Finance Code Sec. 181.301. DISCLOSURE BY DEPARTMENT PROHIBITED.


Tex. Finance Code Sec. 181.3015. DISCLOSURE TO STATE TRUST COMPANIES. The banking commissioner may disclose to a state trust company information about an affiliate or third-party service provider of the state trust company.


Tex. Finance Code Sec. 181.302. DISCLOSURE TO FINANCE COMMISSION. Confidential information may not be disclosed to a member of the finance commission. A member of the finance commission may not be given access to the files and records of the department except that the banking commissioner may disclose to the finance commission information, files, and records pertinent to a hearing or matter pending before the finance commission.


Tex. Finance Code Sec. 181.303. DISCLOSURE TO OTHER AGENCIES.


Tex. Finance Code Sec. 181.304. OTHER DISCLOSURE PROHIBITED; PENALTY.


Tex. Finance Code Sec. 181.305. CIVIL DISCOVERY. Civil discovery of confidential information from a person subject to Section 181.304 under subpoena or other legal process in a civil proceeding must comply with rules adopted under this subtitle and other applicable law. The rules may:


Tex. Finance Code Sec. 181.306. INVESTIGATIVE INFORMATION. Notwithstanding any other law, the banking commissioner may refuse to release information or records concerning a state trust company in the custody of the department if, in the opinion of the banking commissioner, release of the information or records might jeopardize an ongoing investigation of potentially unlawful activity.


Tex. Finance Code Sec. 181.307. EMPLOYMENT INFORMATION.


Tex. Finance Code Sec. 181.308. SHAREHOLDER INSPECTION RIGHTS.


Tex. Finance Code Sec. 182.001. ORGANIZATION AND GENERAL POWERS OF STATE TRUST COMPANY.


Tex. Finance Code Sec. 182.002. CERTIFICATE OF FORMATION OF STATE TRUST COMPANY.


Tex. Finance Code Sec. 182.003. APPLICATION FOR STATE TRUST COMPANY CHARTER; STANDARDS FOR APPROVAL.


Tex. Finance Code Sec. 182.004. NOTICE AND INVESTIGATION OF CHARTER APPLICATION.


Tex. Finance Code Sec. 182.005. PROTEST; HEARING; DECISION ON CHARTER APPLICATION.


Tex. Finance Code Sec. 182.006. ISSUANCE OF CHARTER. A state trust company may not engage in the trust business until it receives its charter from the banking commissioner. The banking commissioner may not deliver the charter until the state trust company has:


Tex. Finance Code Sec. 182.007. DEADLINE TO BEGIN BUSINESS. If a state trust company does not open and engage in the trust business within six months after the date it receives its charter or conditional approval of application for charter, the banking commissioner may revoke the charter or cancel the conditional approval of application for charter without judicial action.


Tex. Finance Code Sec. 182.008. RESTRICTED CAPITAL.


Tex. Finance Code Sec. 182.009. APPLICATION OF GENERAL CORPORATE LAW.


Tex. Finance Code Sec. 182.010. PARITY.


Tex. Finance Code Sec. 182.0105. FINANCIAL ACTIVITIES.


Tex. Finance Code Sec. 182.011. EXEMPTION FROM STATUTORY PROVISIONS FOR CERTAIN STATE TRUST COMPANIES.


Tex. Finance Code Sec. 182.012. APPLICATION FOR EXEMPTION.


Tex. Finance Code Sec. 182.013. ANNUAL CERTIFICATION FOR EXEMPT STATE TRUST COMPANY.


Tex. Finance Code Sec. 182.014. LIMITATION ON EFFECT OF EXEMPTION.


Tex. Finance Code Sec. 182.015. CHANGE OF CONTROL OF EXEMPT STATE TRUST COMPANY. If control of an exempt state trust company is sold or otherwise transferred, the acquiring person must comply with Sections 182.003, 182.004, 182.005, 183.001, and 183.002. For the exempt status of the state trust company to continue, the acquiring person must file a certification with the banking commissioner that the state trust company will comply, or continue to comply, with the requirements of Section 182.011 after control is transferred. The banking commissioner may examine or investigate the acquiring person and the state trust company as necessary to verify the certification. If the commissioner determines that the state trust company will not comply, or continue to comply, with the requirements of Section 182.011 after control is transferred, the commissioner shall terminate the exemption on the effective date of the transfer. After the termination, the acquiring person must file a separate application to obtain a new exemption for the state trust company under Section 182.011.


Tex. Finance Code Sec. 182.016. GROUNDS FOR REVOCATION OF EXEMPTION. The banking commissioner may revoke an exemption of a state trust company if the trust company:


Tex. Finance Code Sec. 182.017. NOTICE AND EFFECT OF REVOCATION OF EXEMPTION.


Tex. Finance Code Sec. 182.018. ACTION AFTER REVOCATION OF EXEMPTION.


Tex. Finance Code Sec. 182.019. PRIOR EXEMPTION.


Tex. Finance Code Sec. 182.020. FOREIGN CORPORATION EXERCISING TRUST POWERS.


Tex. Finance Code Sec. 182.021. ACTIVITIES NOT REQUIRING CHARTER. Subject to Subchapter C, Chapter 187, a company does not engage in the trust business in a manner requiring a state charter by:


Tex. Finance Code Sec. 182.0211. CONFORMANCE WITH SECURITIES ACT. For the purposes of Section 182.021(7), "salesman" includes "agent" and "advisor" includes "investment adviser" or "investment adviser representative."


Tex. Finance Code Sec. 182.101. AMENDMENT OR RESTATEMENT OF STATE TRUST COMPANY CERTIFICATE OF FORMATION.


Tex. Finance Code Sec. 182.102. ESTABLISHING SERIES OF SHARES OR PARTICIPATION SHARES.


Tex. Finance Code Sec. 182.103. CHANGE IN RESTRICTED CAPITAL.


Tex. Finance Code Sec. 182.104. CAPITAL NOTES OR DEBENTURES.


Tex. Finance Code Sec. 182.105. BOARD DESIGNATION OF CERTIFIED SURPLUS. Periodically the board may vote to designate and record in its minutes the amount of certified surplus. Except to absorb losses in excess of undivided profits and uncertified surplus, certified surplus may not be reduced without the prior written approval of the banking commissioner.


Tex. Finance Code Sec. 182.201. CONDUCT OF TRUST BUSINESS. A state trust company may engage in the trust business at its home office and at other locations as permitted by this subchapter.


Tex. Finance Code Sec. 182.202. HOME OFFICE.


Tex. Finance Code Sec. 182.203. ADDITIONAL OFFICES.


Tex. Finance Code Sec. 182.301. MERGER AUTHORITY.


Tex. Finance Code Sec. 182.302. MERGER APPLICATION; GROUNDS FOR APPROVAL.


Tex. Finance Code Sec. 182.303. APPROVAL OF BANKING COMMISSIONER.


Tex. Finance Code Sec. 182.304. RIGHTS OF DISSENTERS TO MERGER. A shareholder, participant, or participant-transferee may dissent from the merger to the extent and by following the procedure provided by the Business Organizations Code or rules adopted under this subtitle.


Tex. Finance Code Sec. 182.401. AUTHORITY TO PURCHASE ASSETS.


Tex. Finance Code Sec. 182.402. AUTHORITY TO ACT AS DISBURSING AGENT.


Tex. Finance Code Sec. 182.403. LIQUIDATION OF SELLING INSTITUTION. If the selling institution is at any time after the sale of assets voluntarily or involuntarily closed for liquidation by a state or federal regulatory agency, the purchasing state trust company shall pay to the receiver of the selling institution the balance of the money held by it in trust for the selling institution and not yet paid to the creditors of the selling institution. Without further action the purchasing state trust company is discharged of all responsibilities to the selling institution, its receiver, or its creditors, shareholders, participants, or participant-transferees.


Tex. Finance Code Sec. 182.404. PAYMENT TO CREDITORS. The purchasing state trust company may pay a creditor of the selling institution the amount to be paid the creditor under the terms of the contract of agency by opening an agency account in the name of the creditor, crediting the account with the amount to be paid the creditor under the terms of the agency contract, and mailing or personally delivering a duplicate ticket evidencing the credit to the creditor at the creditor's address shown in the records of the selling institution. The relationship between the purchasing state trust company and the creditor is that of agent to creditor only to the extent of the credit reflected by the ticket.


Tex. Finance Code Sec. 182.405. SALE OF ASSETS.


Tex. Finance Code Sec. 182.501. MERGER OR CONVERSION OF STATE TRUST COMPANY INTO ANOTHER TRUST INSTITUTION EXERCISING FIDUCIARY POWERS.


Tex. Finance Code Sec. 182.502. CONVERSION OF TRUST INSTITUTION INTO STATE TRUST COMPANY.


Tex. Finance Code Sec. 183.001. ACQUISITION OF CONTROL.


Tex. Finance Code Sec. 183.002. APPLICATION REGARDING ACQUISITION OF CONTROL.


Tex. Finance Code Sec. 183.003. HEARING AND DECISION ON ACQUISITION OF CONTROL.


Tex. Finance Code Sec. 183.004. APPEAL FROM ADVERSE DECISION.


Tex. Finance Code Sec. 183.005. OBJECTION TO OTHER TRANSFER. This subchapter does not prevent the banking commissioner from investigating, commenting on, or seeking to enjoin or set aside a transfer of voting securities that evidence a direct or indirect interest in a state trust company, regardless of whether the transfer is governed by this subchapter, if the banking commissioner considers the transfer to be against the public interest.


Tex. Finance Code Sec. 183.006. CIVIL ENFORCEMENT; CRIMINAL PENALTY.


Tex. Finance Code Sec. 183.101. VOTING SECURITIES HELD BY TRUST COMPANY.


Tex. Finance Code Sec. 183.102. BYLAWS. Except as provided by Section 183.207, each state trust company shall adopt bylaws and may amend its bylaws from time to time for the purposes and in accordance with the procedures set forth in the Business Organizations Code.


Tex. Finance Code Sec. 183.103. BOARD OF DIRECTORS, MANAGERS, OR MANAGING PARTICIPANTS.


Tex. Finance Code Sec. 183.104. ADVISORY DIRECTOR OR ADVISORY MANAGER.


Tex. Finance Code Sec. 183.105. REQUIRED QUARTERLY BOARD MEETING.


Tex. Finance Code Sec. 183.106. OFFICERS.


Tex. Finance Code Sec. 183.107. LIMITATION ON ACTION OF OFFICER OR EMPLOYEE IN RELATION TO ASSET OR LIABILITY. Unless expressly authorized by a resolution of the board recorded in its minutes, an officer or employee may not create or dispose of a state trust company asset or create or incur a liability on behalf of the state trust company.


Tex. Finance Code Sec. 183.108. CERTAIN CRIMINAL OFFENSES.


Tex. Finance Code Sec. 183.109. TRANSACTIONS WITH MANAGEMENT AND AFFILIATES.


Tex. Finance Code Sec. 183.110. FIDUCIARY RESPONSIBILITY. The board of a state trust company is responsible for the proper exercise of fiduciary powers by the state trust company and each matter pertinent to the exercise of fiduciary powers, including:


Tex. Finance Code Sec. 183.111. RECORDKEEPING. A state trust company shall keep its fiduciary records separate and distinct from other records of the state trust company in compliance with applicable rules adopted under this subtitle. The fiduciary records must contain all appropriate material information relative to each account.


Tex. Finance Code Sec. 183.112. BONDING REQUIREMENTS.


Tex. Finance Code Sec. 183.113. REPORTS OF APPARENT CRIME.


Tex. Finance Code Sec. 183.201. LIABILITY OF PARTICIPANTS AND MANAGERS.


Tex. Finance Code Sec. 183.202. FILING OF NOTICE OF FULL LIABILITY.


Tex. Finance Code Sec. 183.203. CONTRACTING FOR DEBT OR OBLIGATION. Except as provided by this section or the certificate of formation of the limited trust association, a debt, liability, or other obligation may be contracted for or incurred on behalf of a limited trust association only by:


Tex. Finance Code Sec. 183.204. MANAGEMENT OF LIMITED TRUST ASSOCIATION.


Tex. Finance Code Sec. 183.205. WITHDRAWAL OR REDUCTION OF PARTICIPANT'S CONTRIBUTION TO CAPITAL.


Tex. Finance Code Sec. 183.206. INTEREST IN LIMITED TRUST ASSOCIATION; TRANSFERABILITY OF INTEREST.


Tex. Finance Code Sec. 183.207. BYLAWS OF LIMITED TRUST ASSOCIATION.


Tex. Finance Code Sec. 183.208. DISSOLUTION.


Tex. Finance Code Sec. 183.209. ALLOCATION OF PROFITS AND LOSSES. The profits and losses of a limited trust association may be allocated among the participants and among classes of participants as provided by the participation agreement. Without the prior written approval of the banking commissioner to use a different allocation method, the profits and losses must be allocated according to the relative interests of the participants as reflected in the certificate of formation and related documents filed with and approved by the banking commissioner.


Tex. Finance Code Sec. 183.210. DISTRIBUTIONS. Subject to Section 182.103, distributions of cash or other assets of a limited trust association may be made to the participants as provided by the participation agreement. Without the prior written approval of the banking commissioner to use a different distribution method, distributions must be made to the participants according to the relative interests of the participants as reflected in the certificate of formation and related documents filed with and approved by the banking commissioner.


Tex. Finance Code Sec. 183.211. APPLICATION OF OTHER PROVISIONS TO LIMITED TRUST ASSOCIATIONS. For purposes of applying the provisions of this subtitle other than this subchapter to a limited trust association, as the context requires:


Tex. Finance Code Sec. 184.001. DEFINITION. In this subchapter, "state trust company facility" means real property, including an improvement, that a state trust company owns or leases, to the extent the lease or the leasehold improvement is capitalized, for the purpose of:


Tex. Finance Code Sec. 184.002. INVESTMENT IN STATE TRUST COMPANY FACILITIES.


Tex. Finance Code Sec. 184.003. OTHER REAL PROPERTY.


Tex. Finance Code Sec. 184.101. SECURITIES.


Tex. Finance Code Sec. 184.102. TRANSACTIONS IN STATE TRUST COMPANY SHARES OR PARTICIPATION SHARES. Except with the prior written approval of the banking commissioner:


Tex. Finance Code Sec. 184.103. STATE TRUST COMPANY SUBSIDIARIES.


Tex. Finance Code Sec. 184.104. OTHER INVESTMENT PROVISIONS.


Tex. Finance Code Sec. 184.105. ENGAGING IN COMMERCE PROHIBITED.


Tex. Finance Code Sec. 184.201. LENDING LIMITS.


Tex. Finance Code Sec. 184.202. VIOLATION OF LENDING LIMIT.


Tex. Finance Code Sec. 184.203. LEASE FINANCING TRANSACTION.


Tex. Finance Code Sec. 184.204. GENERAL BANKING PRIVILEGES NOT CONFERRED. This subchapter does not confer general banking privileges on a state trust company.


Tex. Finance Code Sec. 184.301. TRUST DEPOSITS.


Tex. Finance Code Sec. 184.302. GENERAL BANKING PRIVILEGES NOT CONFERRED. This subchapter does not confer general banking privileges on a state trust company.


Tex. Finance Code Sec. 184.401. BORROWING LIMIT. Except with the prior written approval of the banking commissioner, a state trust company may not have outstanding liabilities, excluding trust deposit liabilities arising under Section 184.301, that exceed an amount equal to five times its restricted capital.


Tex. Finance Code Sec. 184.402. PLEDGE OF ASSETS.


Tex. Finance Code Sec. 185.0001. APPLICABILITY TO STATE TRUST COMPANY SUBSIDIARIES. This subchapter applies to a subsidiary of a state trust company, a present or former officer, director, manager, managing participant, or employee of a subsidiary, or a controlling shareholder or other person participating in the affairs of a subsidiary in the same manner as the subchapter applies to a state trust company, a present or former officer, director, manager, managing participant, or employee of a state trust company, or a controlling shareholder or other person participating in the affairs of a state trust company.


Tex. Finance Code Sec. 185.001. DETERMINATION LETTER.


Tex. Finance Code Sec. 185.002. CEASE AND DESIST ORDER.


Tex. Finance Code Sec. 185.003. REMOVAL OR PROHIBITION ORDER.


Tex. Finance Code Sec. 185.0035. REMOVAL OR PROHIBITION ORDERS IN RESPONSE TO CERTAIN CRIMINAL OFFENSES.


Tex. Finance Code Sec. 185.004. HEARING ON PROPOSED ORDER.


Tex. Finance Code Sec. 185.005. EMERGENCY ORDER.


Tex. Finance Code Sec. 185.006. COPY OF LETTER OR ORDER IN STATE TRUST COMPANY RECORDS. A copy of any determination letter, proposed order, emergency order, or final order issued by the banking commissioner under this subchapter shall be immediately brought to the attention of the board of the affected state trust company, regardless of whether the state trust company is a party, and filed in the minutes of the board. Each director, manager, or managing participant shall immediately certify to the banking commissioner in writing that the certifying person has read and understood the determination letter, proposed order, emergency order, or final order. The required certification may not be considered an admission of a person in a subsequent legal or administrative proceeding.


Tex. Finance Code Sec. 185.007. EFFECT OF FINAL REMOVAL OR PROHIBITION ORDER.


Tex. Finance Code Sec. 185.0071. APPLICATION FOR RELEASE FROM FINAL REMOVAL OR PROHIBITION ORDER.


Tex. Finance Code Sec. 185.008. LIMITATION ON ACTION. The banking commissioner may not initiate an enforcement action under this subchapter later than the fifth anniversary of the date the banking commissioner discovered or reasonably should have discovered the conduct involved.


Tex. Finance Code Sec. 185.009. ENFORCEMENT BY COMMISSIONER.


Tex. Finance Code Sec. 185.010. ADMINISTRATIVE PENALTY.


Tex. Finance Code Sec. 185.011. PAYMENT OR APPEAL OF ADMINISTRATIVE PENALTY.


Tex. Finance Code Sec. 185.012. CONFIDENTIALITY OF RECORDS. A copy of a notice, correspondence, transcript, pleading, or other document in the records of the department relating to an order issued under this subchapter is confidential and may be released only as provided by Subchapter D, Chapter 181, except that the banking commissioner periodically shall publish all final removal and prohibition orders. The banking commissioner may release a final cease and desist order, a final order imposing an administrative penalty, or information regarding the existence of any of those orders to the public if the banking commissioner concludes that the release would enhance effective enforcement of the order.


Tex. Finance Code Sec. 185.013. COLLECTION OF FEES. The banking commissioner may sue to enforce the collection of a fee owed to the department under a law administered by the banking commissioner. In the suit a certificate by the banking commissioner showing the delinquency is prima facie evidence of:


Tex. Finance Code Sec. 185.1001. APPLICABILITY TO STATE TRUST COMPANY SUBSIDIARIES. This subchapter applies to a subsidiary of a state trust company, a present or former officer, director, manager, managing participant, or employee of a subsidiary, or a controlling shareholder or other person participating in the affairs of a subsidiary in the same manner as the subchapter applies to a state trust company, a present or former officer, director, manager, managing participant, or employee of a state trust company, or a controlling shareholder or other person participating in the affairs of a state trust company.


Tex. Finance Code Sec. 185.101. ORDER OF SUPERVISION.


Tex. Finance Code Sec. 185.102. ORDER OF CONSERVATORSHIP.


Tex. Finance Code Sec. 185.103. HEARING.


Tex. Finance Code Sec. 185.104. POST-HEARING ORDER.


Tex. Finance Code Sec. 185.105. CONFIDENTIALITY OF RECORDS. An order issued under this subchapter and a copy of a notice, correspondence, transcript, pleading, or other document in the records of the department relating to the order are confidential and may be released only as provided by Subchapter D, Chapter 181, except that the banking commissioner may release to the public an order or information relating to the existence of an order if the banking commissioner concludes that the release would enhance effective enforcement of the order.


Tex. Finance Code Sec. 185.106. DUTIES OF STATE TRUST COMPANY UNDER SUPERVISION. During a period of supervision, a state trust company, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or restricted by the order of supervision, may not:


Tex. Finance Code Sec. 185.107. POWERS AND DUTIES OF CONSERVATOR.


Tex. Finance Code Sec. 185.108. QUALIFICATIONS OF APPOINTEE. The banking commissioner may appoint as a supervisor or conservator any person who in the judgment of the banking commissioner is qualified to serve. The banking commissioner may serve as, or may appoint an employee of the department to serve as, a supervisor or conservator.


Tex. Finance Code Sec. 185.109. EXPENSES.


Tex. Finance Code Sec. 185.110. REVIEW OF SUPERVISOR OR CONSERVATOR DECISIONS.


Tex. Finance Code Sec. 185.111. SUIT FILED AGAINST OR ON BEHALF OF STATE TRUST COMPANY UNDER SUPERVISION OR CONSERVATORSHIP.


Tex. Finance Code Sec. 185.112. DURATION. A supervisor or conservator serves for the period necessary to accomplish the purposes of the supervision or conservatorship as intended by this subchapter. A rehabilitated state trust company shall be returned to its former or new management under conditions reasonable and necessary to prevent recurrence of the conditions causing the supervision or conservatorship.


Tex. Finance Code Sec. 185.113. ADMINISTRATIVE ELECTION OF REMEDIES. The banking commissioner may take any action authorized under Chapter 186 regardless of the existence of supervision or conservatorship. A period of supervision or conservatorship is not required before a trust company is closed for liquidation or other remedial action is taken.


Tex. Finance Code Sec. 185.114. RELEASE BEFORE HEARING. This subchapter does not prevent release of a state trust company from supervision or conservatorship before a hearing if the banking commissioner is satisfied that requirements for abatement have been adequately satisfied.


Tex. Finance Code Sec. 185.201. INVESTIGATION OF UNAUTHORIZED TRUST ACTIVITY.


Tex. Finance Code Sec. 185.202. SUBPOENA AUTHORITY.


Tex. Finance Code Sec. 185.203. ENFORCEMENT OF SUBPOENA.


Tex. Finance Code Sec. 185.204. CONFIDENTIALITY OF SUBPOENAED RECORDS.


Tex. Finance Code Sec. 185.205. EVIDENCE.


Tex. Finance Code Sec. 185.206. CEASE AND DESIST ORDER REGARDING UNAUTHORIZED TRUST ACTIVITY.


Tex. Finance Code Sec. 185.207. EMERGENCY CEASE AND DESIST ORDER.


Tex. Finance Code Sec. 185.208. APPEAL OF CEASE AND DESIST ORDER.


Tex. Finance Code Sec. 185.209. VIOLATION OF FINAL CEASE AND DESIST ORDER.


Tex. Finance Code Sec. 185.210. ADMINISTRATIVE PENALTY.


Tex. Finance Code Sec. 185.211. PAYMENT AND APPEAL OF ADMINISTRATIVE PENALTY.


Tex. Finance Code Sec. 185.212. JUDICIAL REVIEW OF ADMINISTRATIVE PENALTY.


Tex. Finance Code Sec. 186.001. DEFINITION. In this chapter, "administrative expense" means:


Tex. Finance Code Sec. 186.002. REMEDIES EXCLUSIVE.


Tex. Finance Code Sec. 186.003. FEDERAL DEPOSIT INSURANCE CORPORATION AS LIQUIDATOR.


Tex. Finance Code Sec. 186.004. APPOINTMENT OF INDEPENDENT RECEIVER.


Tex. Finance Code Sec. 186.005. SUCCESSION OF TRUST POWERS.


Tex. Finance Code Sec. 186.101. INITIATING VOLUNTARY DISSOLUTION.


Tex. Finance Code Sec. 186.102. FILING RESOLUTIONS WITH BANKING COMMISSIONER. After resolutions to dissolve and liquidate a state trust company have been adopted by the board and shareholders or participants, a majority of the directors, managers, or managing participants shall verify and file with the banking commissioner certified copies of:


Tex. Finance Code Sec. 186.103. BANKING COMMISSIONER INVESTIGATION AND CONSENT. The banking commissioner shall review the documentation submitted under Section 186.102 and conduct any necessary investigation or examination. If the proceedings appear to have been properly conducted and the bond to be given by the liquidating agent or committee is adequate for its purposes, the banking commissioner shall consent to dissolution and direct the state trust company to publish notice of its pending dissolution.


Tex. Finance Code Sec. 186.104. NOTICE OF PENDING DISSOLUTION.


Tex. Finance Code Sec. 186.105. SAFE DEPOSITS AND OTHER BAILMENTS.


Tex. Finance Code Sec. 186.106. OFFICES TO REMAIN OPEN. Unless the banking commissioner directs or consents otherwise, the home office and all additional trust offices of a state trust company initiating voluntary dissolution shall remain open for business during normal business hours until the last date specified in published notices for presentation of claims, withdrawal of accounts, and redemption of property.


Tex. Finance Code Sec. 186.107. FIDUCIARY ACTIVITIES.


Tex. Finance Code Sec. 186.108. FINAL LIQUIDATION.


Tex. Finance Code Sec. 186.109. APPLICATION OF LAW TO STATE TRUST COMPANY IN DISSOLUTION. A state trust company in the process of voluntary dissolution and liquidation remains subject to this subtitle, including provisions for examination by the banking commissioner, and the state trust company shall furnish reports required by the banking commissioner.


Tex. Finance Code Sec. 186.110. AUTHORIZATION OF DEVIATION FROM PROCEDURES. The banking commissioner may authorize a deviation from the procedures for voluntary dissolution provided by this subchapter if the banking commissioner determines that the interests of claimants are not jeopardized by the deviation.


Tex. Finance Code Sec. 186.111. CLOSURE BY BANKING COMMISSIONER FOR INVOLUNTARY DISSOLUTION AND LIQUIDATION. The banking commissioner may close the state trust company for involuntary dissolution and liquidation under this chapter if the banking commissioner determines that:


Tex. Finance Code Sec. 186.112. APPLICATION FOR NEW CHARTER. After a state trust company's charter has been voluntarily surrendered and canceled, the state trust company may not resume business or reopen except on application for and approval of a new charter.


Tex. Finance Code Sec. 186.201. ACTION TO CLOSE STATE TRUST COMPANY.


Tex. Finance Code Sec. 186.202. NOTICE AND EFFECT OF CLOSURE; APPOINTMENT OF RECEIVER.


Tex. Finance Code Sec. 186.203. NATURE AND DURATION OF RECEIVERSHIP.


Tex. Finance Code Sec. 186.204. CONTEST OF LIQUIDATION.


Tex. Finance Code Sec. 186.205. NOTICE OF STATE TRUST COMPANY CLOSING.


Tex. Finance Code Sec. 186.206. INVENTORY. As soon as reasonably practicable given the state of state trust company records and the adequacy of staffing, the receiver shall prepare a comprehensive inventory of the state trust company's assets for filing with the court. The inventory is open to inspection.


Tex. Finance Code Sec. 186.207. RECEIVER'S TITLE AND PRIORITY.


Tex. Finance Code Sec. 186.208. RIGHTS FIXED. The rights and liabilities of the state trust company in liquidation and of a client, creditor, officer, director, manager, managing participant, employee, shareholder, participant, participant-transferee, agent, or other person interested in the state trust company's estate are fixed on the date of closing of the state trust company for liquidation except as otherwise directed by the court or as expressly provided otherwise by this subchapter or Subchapter D.


Tex. Finance Code Sec. 186.209. DEPOSITORIES.


Tex. Finance Code Sec. 186.210. PENDING LAWSUIT.


Tex. Finance Code Sec. 186.211. NEW LAWSUIT.


Tex. Finance Code Sec. 186.212. OBTAINING RECORD OR OTHER PROPERTY IN POSSESSION OF OTHER PERSON.


Tex. Finance Code Sec. 186.213. INJUNCTION IN AID OF LIQUIDATION.


Tex. Finance Code Sec. 186.214. SUBPOENA.


Tex. Finance Code Sec. 186.215. EXECUTORY CONTRACT; ORAL AGREEMENT.


Tex. Finance Code Sec. 186.216. PREFERENCES.


Tex. Finance Code Sec. 186.217. EMPLOYEES OF RECEIVER. The receiver may employ agents, legal counsel, accountants, appraisers, consultants, and other personnel the receiver considers necessary to assist in the performance of the receiver's duties. The receiver may use personnel of the department if the receiver considers the use to be advantageous or desirable. The expense of employing those persons is an administrative expense.


Tex. Finance Code Sec. 186.218. DISPOSAL OF PROPERTY; SETTLING OF CLAIM.


Tex. Finance Code Sec. 186.219. COURT ORDER; NOTICE AND HEARING. If the court requires notice and hearing before entering an order, the court shall set the time and place of the hearing and prescribe whether the notice is to be given by service on specific parties, by publication, or by a combination of those methods. The court may not enter an order requested by a person other than the receiver without notice to the receiver and an opportunity for the receiver to be heard.


Tex. Finance Code Sec. 186.220. RECEIVER'S REPORTS; EXPENSES.


Tex. Finance Code Sec. 186.221. COURT-ORDERED AUDIT.


Tex. Finance Code Sec. 186.222. SAFE DEPOSITS AND OTHER BAILMENTS.


Tex. Finance Code Sec. 186.223. FIDUCIARY ACTIVITIES.


Tex. Finance Code Sec. 186.224. DISPOSITION AND MAINTENANCE OF RECORDS.


Tex. Finance Code Sec. 186.225. RECORDS ADMITTED.


Tex. Finance Code Sec. 186.226. RESUMPTION OF BUSINESS.


Tex. Finance Code Sec. 186.227. ASSETS DISCOVERED AFTER CLOSE OF RECEIVERSHIP.


Tex. Finance Code Sec. 186.301. FILING CLAIM.


Tex. Finance Code Sec. 186.302. PROOF OF CLAIM.


Tex. Finance Code Sec. 186.303. JUDGMENT AS PROOF OF CLAIM.


Tex. Finance Code Sec. 186.304. SECURED CLAIM.


Tex. Finance Code Sec. 186.305. UNLIQUIDATED OR UNDETERMINED CLAIM.


Tex. Finance Code Sec. 186.306. SET-OFF.


Tex. Finance Code Sec. 186.307. ACTION ON CLAIM.


Tex. Finance Code Sec. 186.308. OBJECTION TO APPROVED CLAIM. The receiver with court approval shall set a deadline for an objection to an approved claim. On or before that date a depositor, creditor, other claimant, shareholder, participant, or participant-transferee of the state trust company may file an objection to an approved claim. The objection shall be heard and determined by the court. If the objection is sustained, the court shall direct an appropriate modification of the schedule of claims.


Tex. Finance Code Sec. 186.309. APPEAL OF REJECTED CLAIM.


Tex. Finance Code Sec. 186.310. PAYMENT OF CLAIM.


Tex. Finance Code Sec. 186.311. PRIORITY OF CLAIMS AGAINST INSURED STATE TRUST COMPANY. The distribution of assets from the estate of a state trust company the trust deposits of which are insured by the Federal Deposit Insurance Corporation or its successor shall be made in the same order of priority as assets would be distributed on liquidation or purchase of assets and assumption of liabilities of a national bank under federal law.


Tex. Finance Code Sec. 186.312. PRIORITY OF CLAIMS AGAINST UNINSURED STATE TRUST COMPANY.


Tex. Finance Code Sec. 186.313. EXCESS ASSETS.


Tex. Finance Code Sec. 186.314. UNCLAIMED PROPERTY. After completion of the liquidation, any unclaimed property remaining with the receiver shall be delivered to the comptroller as provided by Chapter 74, Property Code.


Tex. Finance Code Sec. 187.001. DEFINITIONS.


Tex. Finance Code Sec. 187.002. COMPANIES AUTHORIZED TO CONDUCT A TRUST BUSINESS.


Tex. Finance Code Sec. 187.003. INTERSTATE TRUST BUSINESS OF STATE TRUST COMPANY. Subject to the approval of the banking commissioner pursuant to Section 182.203, a state trust company may engage in the trust business in another state or a foreign country at a trust office or a trust representative office to the extent permitted by and subject to applicable laws of the state or foreign country.


Tex. Finance Code Sec. 187.004. TRUST BUSINESS OF OUT-OF-STATE TRUST COMPANY.


Tex. Finance Code Sec. 187.005. DESIGNATION OF TRUSTEE AND GOVERNING LAW.


Tex. Finance Code Sec. 187.006. TAXATION. An out-of-state trust institution doing business in this state is subject to the franchise tax to the extent provided by Chapter 171, Tax Code.


Tex. Finance Code Sec. 187.007. SEVERABILITY. The provisions of this chapter or applications of those provisions are severable as provided by Section 312.013, Government Code.


Tex. Finance Code Sec. 187.101. TRUST OFFICES IN THIS STATE. An out-of-state trust company may engage in a trust business at an office in this state only if it establishes and maintains a trust office in this state as permitted by this subchapter.


Tex. Finance Code Sec. 187.102. ESTABLISHING AN INTERSTATE TRUST OFFICE.


Tex. Finance Code Sec. 187.103. ACQUIRING AN INTERSTATE TRUST OFFICE.


Tex. Finance Code Sec. 187.104. REQUIREMENT OF NOTICE. An out-of-state trust company desiring to establish and maintain a de novo trust office or acquire an existing trust institution in this state and to operate and maintain the acquired institution as a trust office pursuant to this subchapter shall provide written notice of the proposed transaction to the banking commissioner on or after the date on which the out-of-state trust company applies to the home state regulator for approval to establish and maintain or acquire the trust office. The filing of the notice shall be preceded or accompanied by a copy of the resolution adopted by the board authorizing the additional office and the filing fee, if any, prescribed by law. The written notice must contain sufficient information to enable an informed decision under Section 187.105.


Tex. Finance Code Sec. 187.105. CONDITIONS FOR APPROVAL.


Tex. Finance Code Sec. 187.106. ADDITIONAL TRUST OFFICES. An out-of-state trust company that maintains a trust office in this state under this subchapter may establish or acquire additional trust offices or representative trust offices in this state to the same extent that a state trust company may establish or acquire additional offices in this state pursuant to the procedures for establishing or acquiring the offices set forth in Section 182.203.


Tex. Finance Code Sec. 187.201. REPRESENTATIVE TRUST OFFICE BUSINESS.


Tex. Finance Code Sec. 187.202. REGISTRATION OF REPRESENTATIVE TRUST OFFICE.


Tex. Finance Code Sec. 187.301. COOPERATIVE AGREEMENTS; FEES.


Tex. Finance Code Sec. 187.302. EXAMINATIONS; PERIODIC REPORTS.


Tex. Finance Code Sec. 187.303. INTERPRETIVE STATEMENTS AND OPINIONS.


Tex. Finance Code Sec. 187.304. CONFIDENTIAL INFORMATION. Information obtained directly or indirectly by the banking commissioner relative to the financial condition or business affairs of a trust institution, other than the public portions of a report of condition or income statement, or a present, former, or prospective shareholder, participant, officer, director, manager, affiliate, or service provider of the trust institution, whether obtained through application, examination, or otherwise, and each related file or record of the department is confidential and may not be disclosed by the banking commissioner or an employee of the department except as expressly provided by Subchapter D, Chapter 181.


Tex. Finance Code Sec. 187.305. ENFORCEMENT; APPEALS.


Tex. Finance Code Sec. 187.306. NOTICE OF SUBSEQUENT EVENT. Each out-of-state trust company that has established and maintains an office in this state pursuant to this subtitle shall give written notice, at least 30 days before the effective date of the event, or, in the case of an emergency transaction, a shorter period before the effective date consistent with applicable state or federal law, to the banking commissioner of:


Tex. Finance Code Sec. 199.001. SLANDER OR LIBEL OF STATE TRUST COMPANY.


Tex. Finance Code Sec. 199.002. AUTHORITY TO ACT AS NOTARY PUBLIC. A notary public is not disqualified from taking an acknowledgment or proof of a written instrument as provided by Section 406.016, Government Code, solely because of the person's ownership of stock or participation interest in or employment by a trust institution that is an interested party in the underlying transaction, including a state trust company or a trust institution organized under the laws of another state that lawfully maintains an office in this state.


Tex. Finance Code Sec. 199.003. SUCCESSION OF TRUST POWERS.


Tex. Finance Code Sec. 199.004. DISCOVERY OF CLIENT RECORDS. Civil discovery of a client record maintained by a trust institution, including a state trust company or a trust institution organized under the laws of another state that lawfully maintains an office in this state, is governed by Section 59.006.


Tex. Finance Code Sec. 199.005. COMPLIANCE REVIEW COMMITTEE. A trust company may establish a compliance review committee as provided by Section 59.009.


Tex. Finance Code Sec. 201.001. SCOPE OF SUBTITLE.


Tex. Finance Code Sec. 201.002. DEFINITIONS.


Tex. Finance Code Sec. 201.003. RULES.


Tex. Finance Code Sec. 201.004. LAW APPLICABLE TO INTERSTATE BRANCHES.


Tex. Finance Code Sec. 201.005. COOPERATIVE AGREEMENTS; FEES.


Tex. Finance Code Sec. 201.006. ISSUANCE OF INTERPRETIVE STATEMENTS AND OPINIONS.


Tex. Finance Code Sec. 201.007. CONFIDENTIALITY. Except as expressly provided otherwise in this subtitle, confidentiality of information obtained by the commissioner under this subtitle is governed by Subchapter D, Chapter 31, or, with respect to a state savings bank, Subtitle C, and may not be disclosed by the commissioner or an employee of the commissioner's department except as provided by Subchapter D, Chapter 31, or, with respect to a state savings bank, Subtitle C.


Tex. Finance Code Sec. 201.008. NOTICE OF SUBSEQUENT EVENT. Each out-of-state state bank that has established and maintains an interstate branch in this state pursuant to this subtitle shall give written notice to the commissioner, at least 30 days before the effective date of the event, or in the case of an emergency transaction, within a shorter period consistent with applicable state or federal law, of a merger or other transaction that would cause a change of control with respect to the bank or a bank holding company that controls the bank, with the result that an application would be required to be filed with the bank's home state regulator or a federal bank supervisory agency, including an application filed pursuant to the Change in Bank Control Act of 1978 (12 U.S.C. Section 1817(j)), as amended, or the Bank Holding Company Act (12 U.S.C. Section 1841 et seq.).


Tex. Finance Code Sec. 201.009. ENFORCEMENT; APPEALS.


Tex. Finance Code Sec. 201.010. TAXATION. A bank subject to this subtitle is subject to the franchise tax to the extent provided by Chapter 171, Tax Code.


Tex. Finance Code Sec. 201.011. SEVERABILITY. The provisions of this subtitle or the applications of those provisions are severable as provided by Section 311.032(c), Government Code.


Tex. Finance Code Sec. 201.101. DEFINITIONS. In this subchapter:


Tex. Finance Code Sec. 201.102. REGISTRATION TO DO BUSINESS. An out-of-state financial institution must file an application for registration with the secretary of state, before operating a branch or other office in this state, by complying with the law of this state relating to foreign corporations doing business in this state, notwithstanding a provision in that law that purports to limit or prohibit its applicability to financial institutions.


Tex. Finance Code Sec. 201.103. APPOINTMENT OF AGENT TO RECEIVE SERVICE OF PROCESS.


Tex. Finance Code Sec. 202.001. ACQUISITION OF BANK OR BANK HOLDING COMPANY.


Tex. Finance Code Sec. 202.002. LIMITATION ON CONTROL OF DEPOSITS.


Tex. Finance Code Sec. 202.003. REQUIRED AGE OF ACQUIRED BANK.


Tex. Finance Code Sec. 202.004. NONBANKING ACQUISITION, ELECTION, OR ACTIVITY.


Tex. Finance Code Sec. 202.005. APPLICABLE LAWS.


Tex. Finance Code Sec. 202.006. FINANCIAL ACTIVITIES.


Tex. Finance Code Sec. 203.001. INTERSTATE BRANCHING BY TEXAS STATE BANKS.


Tex. Finance Code Sec. 203.002. CONDITIONS FOR ENTRY BY DE NOVO BRANCHING.


Tex. Finance Code Sec. 203.003. ENTRY BY INTERSTATE MERGER TRANSACTION.


Tex. Finance Code Sec. 203.004. LIMITATION ON CONTROL OF DEPOSITS.


Tex. Finance Code Sec. 203.006. ADDITIONAL BRANCHES. An out-of-state bank that has established or acquired a branch in this state under this chapter may establish or acquire additional branches in this state to the same extent that a Texas state bank may establish or acquire a branch in this state under applicable state and federal law.


Tex. Finance Code Sec. 203.007. EXAMINATIONS.


Tex. Finance Code Sec. 204.001. TRANSACTING BUSINESS.


Tex. Finance Code Sec. 204.002. BOOKS, ACCOUNTS, AND RECORDS. Each Texas state branch, agency, or representative office shall maintain and make available appropriate books, accounts, and records reflecting:


Tex. Finance Code Sec. 204.003. EXAMINATION; FEES.


Tex. Finance Code Sec. 204.004. REPORTS.


Tex. Finance Code Sec. 204.005. CHANGE OF CONTROL OF FOREIGN BANK. A foreign bank licensed to establish and maintain a Texas state branch or agency pursuant to Subchapter B, or which has registered a Texas representative office pursuant to Subchapter C, shall file with the commissioner a notice of change of control, in the form and containing the information the commissioner requires, not later than the 14th day after the date of a merger or other transaction that results or will result in a change of control.


Tex. Finance Code Sec. 204.006. OPERATIONS IN THIS STATE OF BANKS OWNED OR CONTROLLED BY FOREIGN BANKS AND OTHER FOREIGN PERSONS.


Tex. Finance Code Sec. 204.007. ESTABLISHMENT OF INTERSTATE BRANCH IN THIS STATE BY AN OUT-OF-STATE FOREIGN BANK.


Tex. Finance Code Sec. 204.008. CONVERSION OF EXISTING OFFICE.


Tex. Finance Code Sec. 204.101. APPLICATION TO ESTABLISH BRANCH OR AGENCY.


Tex. Finance Code Sec. 204.102. HEARING AND DECISION ON APPLICATION.


Tex. Finance Code Sec. 204.103. ISSUANCE OF LICENSE.


Tex. Finance Code Sec. 204.104. NO CONCURRENT FEDERAL BRANCH OR AGENCY.


Tex. Finance Code Sec. 204.105. POWERS OF BRANCH AND AGENCY.


Tex. Finance Code Sec. 204.106. APPLICATION TO ACT AS FIDUCIARY.


Tex. Finance Code Sec. 204.107. FILING OF AMENDMENTS TO CERTIFICATE OF FORMATION. If the certificate of formation of a foreign bank licensed to maintain a Texas state branch or agency is amended, the foreign bank shall promptly file with the commissioner a copy of the amendment, duly authenticated by the proper officer of the country of the foreign bank's organization. The filing does not enlarge or alter the business the foreign bank is authorized to pursue in this state, authorize the foreign bank to transact business in this state under a name other than the name set forth in its license, or extend the duration of its corporate existence.


Tex. Finance Code Sec. 204.108. AMENDED LICENSE FOR BRANCH OR AGENCY.


Tex. Finance Code Sec. 204.109. RELOCATION OF OFFICE.


Tex. Finance Code Sec. 204.110. SEPARATE ASSETS.


Tex. Finance Code Sec. 204.111. DISCLOSURE OF LACK OF DEPOSIT INSURANCE. Each foreign bank licensed to establish and maintain a Texas state branch or agency shall give notice that deposits and credit balances in the office are not insured by the Federal Deposit Insurance Corporation.


Tex. Finance Code Sec. 204.112. LIMITATIONS ON PAYMENT OF INTEREST ON DEPOSITS. A foreign bank licensed to establish and maintain a Texas state branch or agency is subject to the same limitations with respect to the payment of interest on deposits as a state bank that is a member of the Federal Reserve System.


Tex. Finance Code Sec. 204.113. PLEDGE OF ASSETS.


Tex. Finance Code Sec. 204.114. ASSET MAINTENANCE.


Tex. Finance Code Sec. 204.115. VOLUNTARY CLOSURE OF BRANCH OR AGENCY.


Tex. Finance Code Sec. 204.116. ENFORCEMENT. The commissioner may initiate an enforcement action under Chapter 35 or a proceeding to revoke the license of a Texas state branch or agency if the commissioner by examination or other credible evidence finds that the foreign bank:


Tex. Finance Code Sec. 204.117. PROCEDURE FOR REVOCATION.


Tex. Finance Code Sec. 204.118. IMMEDIATE SUSPENSION OR REVOCATION.


Tex. Finance Code Sec. 204.119. STATUS OF REVOKED LICENSE. Unless stayed by the district court that has jurisdiction over an appeal, a final order of the commissioner revoking a license is effective immediately and the foreign bank shall immediately cease all activity in this state requiring a license. Subject to Section 204.120, all functions requiring a license must be immediately transferred to a branch, affiliate, or agency of the foreign bank that is located outside of this state and that has the power to perform those functions under governing law. Continued activity in this state of an unlicensed foreign bank is subject to Subchapter C, Chapter 35.


Tex. Finance Code Sec. 204.120. SEIZURE AND LIQUIDATION.


Tex. Finance Code Sec. 204.121. DISSOLUTION.


Tex. Finance Code Sec. 204.201. REGISTRATION OF REPRESENTATIVE OFFICE.


Tex. Finance Code Sec. 204.202. PLACE OF BUSINESS. A Texas representative office may engage in the business authorized by this subchapter at each place of business registered with the commissioner. A Texas representative office may change its location in this state by filing a notice with the commissioner containing the street address and post office address of the new location.


Tex. Finance Code Sec. 204.203. PERMISSIBLE ACTIVITIES OF REPRESENTATIVE OFFICE.


Tex. Finance Code Sec. 204.204. ENFORCEMENT. The commissioner may initiate an enforcement action under Chapter 35 or a proceeding to revoke the registration of a representative office if the commissioner by examination or other credible evidence finds that the foreign bank:


Tex. Finance Code Sec. 204.205. PROCEDURE FOR REVOCATION.


Tex. Finance Code Sec. 204.206. EFFECT OF REVOKED REGISTRATION. A foreign bank that has had its registration under this subchapter revoked shall cease all activities in this state. Continued activity in this state of an unregistered foreign bank is subject to Subchapter C, Chapter 35.


Tex. Finance Code Sec. 204.207. DISSOLUTION.


Tex. Finance Code Sec. 31.001. SHORT TITLE. This subtitle may be cited as the Texas Banking Act.


Tex. Finance Code Sec. 31.002. DEFINITIONS.


Tex. Finance Code Sec. 31.003. BANKING RULES.


Tex. Finance Code Sec. 31.004. UNAUTHORIZED BANKING.


Tex. Finance Code Sec. 31.005. IMPLYING THAT PERSON IS BANK.


Tex. Finance Code Sec. 31.006. LIABILITY OF DEPOSITORY INSTITUTION DIRECTORS AND PERSONNEL.


Tex. Finance Code Sec. 31.007. EXEMPTION OF BANK DIRECTORS AND PERSONNEL FROM SECURITIES LAW.


Tex. Finance Code Sec. 31.101. GENERAL DUTIES OF BANKING COMMISSIONER. The banking commissioner shall:


Tex. Finance Code Sec. 31.102. ISSUANCE OF INTERPRETIVE STATEMENTS.


Tex. Finance Code Sec. 31.103. ISSUANCE OF OPINION.


Tex. Finance Code Sec. 31.104. EFFECT OF INTERPRETIVE STATEMENT OR OPINION. An interpretive statement or opinion issued under this subchapter does not have the force of law and is not a rule for the purposes of Chapter 2001, Government Code, unless adopted by the finance commission as provided by Chapter 2001, Government Code. An interpretive statement or opinion is an administrative construction of this subtitle or Chapter 12 entitled to great weight if the construction is reasonable and does not conflict with this subtitle or Chapter 12.


Tex. Finance Code Sec. 31.105. EXAMINATION REQUIRED.


Tex. Finance Code Sec. 31.106. COST OF REGULATION. Each state bank shall pay, through the imposition and collection of fees established by the finance commission under Section 31.003(a)(4):


Tex. Finance Code Sec. 31.107. REGULATION AND EXAMINATION OF RELATED ENTITIES.


Tex. Finance Code Sec. 31.108. CALL REPORT; PENALTY.


Tex. Finance Code Sec. 31.201. BANKING COMMISSIONER HEARING; INFORMAL DISPOSITION.


Tex. Finance Code Sec. 31.202. APPEAL OF BANKING COMMISSIONER DECISION OR ORDER. Except as expressly provided otherwise by this subtitle, an appellant may appeal a decision or order of the banking commissioner made under this subtitle or Chapter 12 after a hearing to a district court in Travis County as provided by Section 31.204.


Tex. Finance Code Sec. 31.204. APPEAL TO DISTRICT COURT. A person affected by a final order of the banking commissioner may appeal the final order by filing a petition for judicial review in a district court in Travis County as provided by Chapter 2001, Government Code. A petition for judicial review filed in the district court does not stay or vacate the appealed order unless the court, after notice and hearing, expressly stays or vacates the order.


Tex. Finance Code Sec. 31.301. DISCLOSURE BY DEPARTMENT PROHIBITED.


Tex. Finance Code Sec. 31.3015. DISCLOSURE TO STATE BANKS. The banking commissioner may disclose to a state bank information about an affiliate or third-party service provider of the state bank.


Tex. Finance Code Sec. 31.302. DISCLOSURE TO FINANCE COMMISSION. Confidential information may not be disclosed to a member of the finance commission, and a member of the commission may not be given access to the files and records of the department except that the banking commissioner may disclose to the commission information, files, and records pertinent to a hearing or matter pending before the commission.


Tex. Finance Code Sec. 31.303. DISCLOSURE TO OTHER AGENCIES.


Tex. Finance Code Sec. 31.304. OTHER DISCLOSURE PROHIBITED; PENALTY.


Tex. Finance Code Sec. 31.305. CIVIL DISCOVERY. Civil discovery of confidential information from a person subject to Section 31.304 under subpoena or other legal process must comply with rules adopted under this subtitle and other applicable law. The rules may:


Tex. Finance Code Sec. 31.306. INVESTIGATIVE INFORMATION. Notwithstanding any other law, the banking commissioner may refuse to release information or records in the custody of the department if, in the opinion of the commissioner, release of the information or records might jeopardize an ongoing investigation of potentially unlawful activities.


Tex. Finance Code Sec. 31.307. EMPLOYMENT INFORMATION.


Tex. Finance Code Sec. 31.308. SHAREHOLDER INSPECTION RIGHTS.


Tex. Finance Code Sec. 32.001. ORGANIZATION AND GENERAL POWERS OF STATE BANK.


Tex. Finance Code Sec. 32.002. CERTIFICATE OF FORMATION OF STATE BANK.


Tex. Finance Code Sec. 32.003. APPLICATION FOR STATE BANK CHARTER; STANDARDS FOR APPROVAL.


Tex. Finance Code Sec. 32.004. NOTICE AND INVESTIGATION OF CHARTER APPLICATION.


Tex. Finance Code Sec. 32.005. PROTEST; HEARING; DECISION ON CHARTER APPLICATION.


Tex. Finance Code Sec. 32.006. ISSUANCE OF CERTIFICATE OF AUTHORITY. A state bank may not engage in the business of banking until it receives a certificate of authority from the banking commissioner. The banking commissioner may not deliver the certificate of authority until the bank has:


Tex. Finance Code Sec. 32.007. DEADLINE TO BEGIN BUSINESS. If the state bank does not open and engage in the business of banking within six months after the date of the granting of its charter, the banking commissioner may forfeit the charter or cancel the conditional approval of application for charter without judicial action.


Tex. Finance Code Sec. 32.008. APPLICATION OF GENERAL CORPORATE LAW.


Tex. Finance Code Sec. 32.009. PARITY BETWEEN STATE AND NATIONAL BANKS.


Tex. Finance Code Sec. 32.010. ADDITIONAL POWERS.


Tex. Finance Code Sec. 32.011. FINANCIAL ACTIVITIES.


Tex. Finance Code Sec. 32.101. AMENDMENT OR RESTATEMENT OF STATE BANK CERTIFICATE OF FORMATION.


Tex. Finance Code Sec. 32.102. ESTABLISHING SERIES OF SHARES.


Tex. Finance Code Sec. 32.103. CHANGE IN OUTSTANDING CAPITAL AND SURPLUS.


Tex. Finance Code Sec. 32.104. CAPITAL NOTES OR DEBENTURES.


Tex. Finance Code Sec. 32.201. CONDUCT OF THE BUSINESS OF BANKING.


Tex. Finance Code Sec. 32.202. HOME OFFICE.


Tex. Finance Code Sec. 32.203. BRANCH OFFICES.


Tex. Finance Code Sec. 32.204. DEPOSIT OR LOAN PRODUCTION OFFICES.


Tex. Finance Code Sec. 32.301. MERGER AUTHORITY.


Tex. Finance Code Sec. 32.302. APPROVAL OF BANKING COMMISSIONER.