reglab/housing_qa huggingface dataset:
TX Fin Code § 186.313 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter D. Claims Against Receivership Estate|Section 186.313. Excess Assets

Sec. 186.313.  EXCESS ASSETS.  (a)  If state trust company assets remain after the receiver has provided for unclaimed distributions and all of the liabilities of the state trust company in liquidation, the receiver shall distribute the remaining assets to the shareholders or participants of the state trust company.(b)  If the remaining assets are not liquid or if they otherwise require continuing administration, the receiver may call a meeting of the shareholders or participants and participant-transferees of the state trust company.  The receiver shall give notice of the meeting:(1)  in a newspaper of general circulation in the county where the home office of the state trust company was located;  and(2)  by written notice to the shareholders or participants and participant-transferees of record at their last known addresses.(c)  At the meeting, the shareholders or participants shall appoint one or more agents to take over the affairs to continue the liquidation for the benefit of the shareholders or participants and participant-transferees.  Voting privileges are governed by the state trust company's bylaws and certificate of formation.  If a quorum cannot be obtained at the meeting, the banking commissioner shall appoint an agent.  An agent appointed under this subsection shall execute and file with the court a bond approved by the court, conditioned on the faithful performance of all the duties of the trust.(d)  Under order of the court the receiver shall transfer and deliver to one or more agents for continued liquidation under the court's supervision all assets of the state trust company remaining in the receiver's hands.  The court shall discharge the receiver from further liability to the state trust company and its clients, creditors, shareholders, participants, and participant-transferees.(e)  The state trust company may not resume business and the charter of the state trust company is void on the date the court issues the order directing the receiver to transfer and deliver the remaining assets of the state trust company to one or more agents.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 35, eff. June 14, 2013.|
TX Fin Code § 186.314 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter D. Claims Against Receivership Estate|Section 186.314. Unclaimed Property

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.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 187.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter A. General Provisions|Section 187.002. Companies Authorized to Conduct a Trust Business

Sec. 187.002.  COMPANIES AUTHORIZED TO CONDUCT A TRUST BUSINESS.  (a)  A company may not conduct a trust business in this state unless the company is a trust institution and is:(1)  a state trust company chartered pursuant to this subtitle;(2)  a bank, savings association, savings bank, or credit union that maintains its principal office or a branch in this state in accordance with governing law, or another office in this state with the power to conduct a trust business to the extent permitted by rule;(3)  a trust company chartered under the laws of another state or a foreign country that has a trust office in this state licensed by the banking commissioner pursuant to this chapter;  or(4)  a foreign bank with an office in this state that is authorized to act as a fiduciary pursuant to Section 204.106.(b)  Notwithstanding Subsection (a), a trust institution that does not maintain a principal office, branch, or trust office in this state may act as a fiduciary in this state to the extent permitted by Subchapter A, Chapter 505, Estates Code.(c)  A company does not engage in the trust business in this state in a manner requiring a charter or license under this subtitle by engaging in an activity identified in Section 182.021, except that the registration requirements of Section 187.202 may apply to a trust representative office engaging in the activity.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.Amended by: Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.017, eff. September 1, 2015.|
TX Fin Code § 187.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter A. General Provisions|Section 187.003. Interstate Trust Business of State Trust Company

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.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.|
TX Fin Code § 187.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter A. General Provisions|Section 187.004. Trust Business of Out-of-State Trust Company

Sec. 187.004.  TRUST BUSINESS OF OUT-OF-STATE TRUST COMPANY.  (a)  An out-of-state trust company that establishes or maintains an office in this state under this chapter may conduct any activity at the office that would be authorized under the laws of this state for a state trust company to conduct at the office.(b)  Before establishing an office in this state, an out-of-state trust company must comply with Section 201.102.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.|
TX Fin Code § 187.005 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter A. General Provisions|Section 187.005. Designation of Trustee and Governing Law

Sec. 187.005.  DESIGNATION OF TRUSTEE AND GOVERNING LAW.  (a)  Unless another law restricts the designation of trustee, a person residing in this state may designate a trust institution to act as a fiduciary on behalf of the person.(b)  Unless another law specifies governing law, if a trust or its subject matter bears a reasonable relation to this state and also to another state or a foreign country, a trust institution and its affected client may agree that the law of this state or of the other state or country governs their rights and duties, including the law of a state or a foreign country where the affected client resides or where the trust institution has its principal office.(c)  Repealed by Acts 2007, 80th Leg., R.S., Ch. 451, Sec. 21, eff. September 1, 2007.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.Amended by: Acts 2007, 80th Leg., R.S., Ch. 451 (H.B. 564), Sec. 1, eff. September 1, 2007.Acts 2007, 80th Leg., R.S., Ch. 451 (H.B. 564), Sec. 21, eff. September 1, 2007.|
TX Fin Code § 187.006 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter A. General Provisions|Section 187.006. Taxation

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.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.|
TX Fin Code § 187.007 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter A. General Provisions|Section 187.007. Severability

Sec. 187.007.  SEVERABILITY.  The provisions of this chapter or applications of those provisions are severable as provided by Section 312.013, Government Code.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.|
TX Fin Code § 187.101 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter B. Out-of-State Trust Company Trust Office|Section 187.101. Trust Offices in This State

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.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.|
TX Fin Code § 187.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter B. Out-of-State Trust Company Trust Office|Section 187.102. Establishing an Interstate Trust Office

Sec. 187.102.  ESTABLISHING AN INTERSTATE TRUST OFFICE.  (a)  An out-of-state trust company that does not operate a trust office in this state may not establish and maintain a de novo trust office in this state unless:(1)  a state trust company would be permitted to establish a de novo trust office in the home state or foreign country of the out-of-state trust company;  and(2)  a bank whose home state is this state would be permitted to establish a de novo branch in the home state or foreign country of the out-of-state trust company.(b)  Subject to Subsection (a), a de novo trust office may be established in this state under this section through the acquisition of a trust office in this state of an existing trust institution.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.|
TX Fin Code § 187.103 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter B. Out-of-State Trust Company Trust Office|Section 187.103. Acquiring an Interstate Trust Office

Sec. 187.103.  ACQUIRING AN INTERSTATE TRUST OFFICE.  (a)  An out-of-state trust company that does not operate a trust office in this state and that meets the requirements of this subchapter may acquire an existing trust institution in this state and after the acquisition operate and maintain the acquired institution as a trust office in this state, subject to Subchapter A, Chapter 183, or Subchapter A, Chapter 33, if applicable. (b)  An out-of-state trust institution that does not operate a trust office in this state may not establish and maintain a trust office in this state through the acquisition of a trust office of an existing trust institution except as provided by Section 187.102.  This section does not affect or prohibit a trust institution or other person from chartering a state trust company pursuant to Section 182.001.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 17, eff. June 14, 2013.|
TX Fin Code § 187.104 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter B. Out-of-State Trust Company Trust Office|Section 187.104. Requirement of Notice

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.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.|
TX Fin Code § 187.105 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter B. Out-of-State Trust Company Trust Office|Section 187.105. Conditions for Approval

Sec. 187.105.  CONDITIONS FOR APPROVAL.  (a)  A trust office of an out-of-state trust company may be acquired or established in this state under this subchapter if:(1)  the out-of-state trust company confirms in writing to the banking commissioner that while it maintains a trust office in this state, it will comply with all applicable laws of this state;(2)  the out-of-state trust company provides satisfactory evidence to the banking commissioner of compliance with Section 201.102 and the applicable requirements of its home state regulator for acquiring or establishing and maintaining the office;(3)  all filing fees have been paid as required by law; and(4)  the banking commissioner finds that:(A)  applicable conditions of Section 187.102 or 187.103 have been met;(B)  if a state bank is being acquired, the applicable requirements of Subchapter A, Chapter 33 have been met, or if a state trust company is being acquired, the applicable requirements of Subchapter A, Chapter 183 have been met; and(C)  any conditions imposed by the banking commissioner pursuant to Subsection (b) have been satisfied.(b)  The banking commissioner may condition approval of a trust office on compliance by the out-of-state trust company with any requirement applicable to formation of a state trust company pursuant to Sections 182.003(b) and 182.007.(c)  If all requirements of Subsection (a) have been met, the out-of-state trust company may commence business at the trust office on the 61st day after the date the banking commissioner notifies the company that the notice required by Section 187.104 has been accepted for filing, unless the banking commissioner specifies an earlier or later date.(d)  The 60-day period of review may be extended by the banking commissioner on a determination that the written notice raises issues that require additional information or additional time for analysis.  If the period of review is extended, the out-of-state trust company may establish the office only on prior written approval by the banking commissioner.(e)  If all requirements of Subsection (a) have been met, the banking commissioner may otherwise deny approval of the office if the banking commissioner finds that the out-of-state trust company lacks sufficient financial resources to undertake the proposed expansion without adversely affecting its safety or soundness or that the proposed office is contrary to the public interest.  In acting on the notice, the banking commissioner shall consider the views of the appropriate supervisory agencies.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 18, eff. June 14, 2013.|
TX Fin Code § 187.106 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter B. Out-of-State Trust Company Trust Office|Section 187.106. Additional Trust Offices

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.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.|
TX Fin Code § 187.201 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter C. Out-of-State Trust Institution Representative Trust Office|Section 187.201. Representative Trust Office Business

Sec. 187.201.  REPRESENTATIVE TRUST OFFICE BUSINESS.  (a)  An out-of-state trust institution may establish a representative trust office as permitted by this subchapter to:(1)  solicit, but not accept, fiduciary appointments;(2)  act as a fiduciary in this state to the extent permitted for a foreign corporate fiduciary by Subchapter A, Chapter 505, Estates Code;(3)  perform ministerial duties with respect to existing clients and accounts of the trust institution;(4)  engage in an activity permitted by Section 182.021; and(5)  to the extent the office is not acting as a fiduciary:(A)  receive for safekeeping personal property of every description;(B)  act as assignee, bailee, conservator, custodian, escrow agent, registrar, receiver, or transfer agent; and(C)  act as financial advisor, investment advisor or manager, agent, or attorney-in-fact in any agreed capacity.(b)  Except as provided by Subsection (a), a trust representative office may not act as a fiduciary or otherwise engage in the trust business in this state.(c)  Subject to the requirements of this subchapter, an out-of-state trust institution may establish and maintain representative trust offices anywhere in this state.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.Amended by: Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.018, eff. September 1, 2015.|
TX Fin Code § 187.202 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter C. Out-of-State Trust Institution Representative Trust Office|Section 187.202. Registration of Representative Trust Office

Sec. 187.202.  REGISTRATION OF REPRESENTATIVE TRUST OFFICE.  (a)  Except as provided by Subsection (e) with respect to a credit union, a savings association, or a savings bank, an out-of-state trust institution that does not maintain a branch or trust office in this state and that desires to establish or acquire and maintain a representative trust office shall:(1)  file a notice on a form prescribed by the banking commissioner, setting forth:(A)  the name of the out-of-state trust institution;(B)  the location of the proposed office;  and(C)  satisfactory evidence that the notificant is a trust institution;(2)  pay the filing fee, if any, prescribed by law;  and(3)  submit a copy of the resolution adopted by the board authorizing the representative trust office and a copy of the trust institution's registration filed with the secretary of state pursuant to Section 201.102.(b)  The notificant may commence business at the representative trust office on the 31st day after the date the banking commissioner receives the notice unless the banking commissioner specifies an earlier or later date.(c)  The 30-day period of review may be extended by the banking commissioner on a determination that the written notice raises issues that require additional information or additional time for analysis.  If the period of review is extended, the out-of-state trust institution may establish the representative trust office only on prior written approval by the banking commissioner.(d)  The banking commissioner may deny approval of the representative trust office if the banking commissioner finds that the notificant lacks sufficient financial resources to undertake the proposed expansion without adversely affecting its safety or soundness or that the proposed office would be contrary to the public interests.  In acting on the notice, the banking commissioner shall consider the views of the appropriate supervisory agencies.(e)  A credit union, savings association, or savings bank that does not maintain a branch in this state and desires to establish or acquire and maintain a representative trust office shall comply with this section, except that the notice required by Subsection (a) must be filed with, and the duties and responsibilities of the banking commissioner under Subsections (b)-(d) shall be performed by:(1)  the Texas credit union commissioner, with respect to a credit union; or(2)  the Texas savings and mortgage lending commissioner, with respect to a savings association or savings bank.(f)  An out-of-state trust institution that fails to register as required by this section is subject to Subchapter C, Chapter 185.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.056, eff. September 1, 2007.|
TX Fin Code § 187.301 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 187 - Multistate Trust Business|Subchapter D. Supervision of Out-of-State Trust Company|Section 187.301. Cooperative Agreements; Fees

Sec. 187.301.  COOPERATIVE AGREEMENTS;  FEES.  (a)  To carry out the purposes of this subtitle, the banking commissioner may:(1)  enter into cooperative, coordinating, or information sharing agreements with another supervisory agency or an organization affiliated with or representing one or more supervisory agencies;(2)  with respect to periodic examination or other supervision or investigation, accept reports of examination or investigation by, and reports submitted to, another supervisory agency in lieu of conducting examinations or investigations or receiving reports as might otherwise be required or permissible under this subtitle;(3)  enter into contracts with another supervisory agency having concurrent regulatory or supervisory jurisdiction to engage the services of the agency for reasonable compensation to assist with the banking commissioner's performance of official duties under this subtitle or other law, or to provide services to the agency for reasonable compensation in connection with the agency's performance of official duties under law, except that Chapter 2254, Government Code, does not apply to those contracts;(4)  enter into joint examinations or joint enforcement actions with another supervisory agency having concurrent regulatory or supervisory jurisdiction, except that the banking commissioner may independently take action under Section 187.305 if the banking commissioner determines that the action is necessary to carry out the banking commissioner's responsibilities under this subtitle or to enforce compliance with the laws of this state;  and(5)  assess supervisory and examination fees to be paid by an out-of-state trust company that maintains one or more offices in this state in connection with the banking commissioner's performance of duties under this subtitle.(b)  Supervisory or examination fees assessed by the banking commissioner in accordance with this subtitle may be shared with another supervisory agency or an organization affiliated with or representing one or more supervisory agencies in accordance with an agreement between the banking commissioner and the agency or organization.  The banking commissioner may also receive a portion of supervisory or examination fees assessed by another supervisory agency in accordance with an agreement between the banking commissioner and the agency.|Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.|