reglab/housing_qa huggingface dataset:
TX Fin Code § 35.211 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 35 - Enforcement Actions|Subchapter C. Unauthorized Activity: Investigation and Enforcement|Section 35.211. Administrative Penalty

Sec. 35.211.  ADMINISTRATIVE PENALTY.  (a)  The banking commissioner may initiate an action for an administrative penalty against a person for violation of a cease and desist order by serving on the person notice of the time and place of a hearing on the penalty.  The notice must be delivered by personal delivery or certified mail, return receipt requested, to the person's last known address.  The hearing may not be held earlier than the 20th day after the date the notice is served.  The notice must contain a statement of the facts or conduct alleged to violate the cease and desist order.(b)  In determining whether a cease and desist order has been violated, the banking commissioner shall consider the maintenance of procedures reasonably adopted to ensure compliance with the order.(c)  If the banking commissioner after the hearing determines that a cease and desist order has been violated, the banking commissioner may:(1)  impose an administrative penalty in an amount not to exceed $25,000 for each discrete unauthorized act;(2)  direct the person against whom the order was issued to make complete restitution, in the form and amount and within the period determined by the banking commissioner, to each resident of this state and entity operating in this state damaged by the violation;  or(3)  both impose the penalty and direct restitution.(d)  In determining the amount of the penalty and whether to impose restitution, the banking commissioner shall consider:(1)  the seriousness of the violation, including the nature, circumstances, extent, and gravity of any prohibited act;(2)  the economic harm caused by the violation;(3)  the history of previous violations;(4)  the amount necessary to deter future violations;(5)  efforts to correct the violation;(6)  whether the violation was intentional or unintentional;(7)  the financial ability of the person against whom the penalty is to be assessed;  and(8)  any other matter that justice may require.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 35.212 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 35 - Enforcement Actions|Subchapter C. Unauthorized Activity: Investigation and Enforcement|Section 35.212. Payment and Appeal of Administrative Penalty

Sec. 35.212.  PAYMENT AND APPEAL OF ADMINISTRATIVE PENALTY.  (a)  When an administrative penalty order under Section 35.211 becomes final, a person affected by the order, within the time permitted by law for appeal, shall:(1)  pay the amount of the penalty;(2)  pay the amount of the penalty and file a petition for judicial review contesting the occurrence of the violation, the amount of the penalty, or both;  or(3)  without paying the amount of the penalty, file a petition for judicial review contesting the occurrence of the violation, the amount of the penalty, or both.(b)  Within the time permitted by law for appeal, a person who acts under Subsection (a)(3) may:(1)  stay enforcement of the penalty by:(A)  paying the amount of the penalty to the court for placement in an escrow account;  or(B)  giving the court a supersedeas bond that is approved by the court for the amount of the penalty and that is effective until all judicial review of the order is final;  or(2)  request the court to stay enforcement of the penalty by:(A)  filing with the court a sworn affidavit of the person stating that the person is financially unable to pay the amount of the penalty and is financially unable to give the supersedeas bond;  and(B)  giving a copy of the affidavit to the banking commissioner by certified mail.(c)  Not later than the fifth day after the date the banking commissioner receives a copy of an affidavit under Subsection (b)(2), the banking commissioner may file with the court a contest to the affidavit.  The court shall hold a hearing on the facts alleged in the affidavit as soon as practicable and shall stay the enforcement of the penalty on finding that the alleged facts are true.  The person who files an affidavit has the burden of proving that the person is financially unable to pay the amount of the penalty and to give a supersedeas bond.(d)  If the person does not pay the amount of the penalty and the enforcement of the penalty is not stayed, the banking commissioner may refer the matter to the attorney general for collection of the amount of the penalty.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 35.213 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 35 - Enforcement Actions|Subchapter C. Unauthorized Activity: Investigation and Enforcement|Section 35.213. Judicial Review of Administrative Penalty

Sec. 35.213.  JUDICIAL REVIEW OF ADMINISTRATIVE PENALTY.  (a)  If on judicial review the court sustains the penalty order, the court shall order the person to pay the full amount of the penalty or a lower amount determined by the court.  If the court does not sustain the order, a penalty is not owed.(b)  When the judgment of the court becomes final, if the person paid the amount of the penalty and if that amount is reduced or is not upheld by the court, the court shall order that the appropriate amount plus accrued interest computed at the annual rate of 10 percent be remitted by the department.  The interest shall be paid for the period beginning on the date the penalty was paid and ending on the date the penalty is remitted.  If the person gave a supersedeas bond and if the amount of the penalty is not upheld by the court, the court shall order the release of the bond.  If the person gave a supersedeas bond and if the amount of the penalty is reduced, the court shall order the release of the bond after the person pays the amount owed.(c)  If the judgment of the court requires payment of a penalty that has not previously been paid, the court shall order as part of its judgment that interest accrues on the penalty at the annual rate of 10 percent, beginning on the date the judgment is final and ending on the date the penalty and interest are paid.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter A. General Provisions|Section 36.001. Definition

Sec. 36.001.  DEFINITION.  In this chapter, "administrative expense" means:(1)  an expense designated as an administrative expense by Subchapter C or D; (2)  court costs and expenses of operation and liquidation of a bank estate;(3)  wages owed to an employee of a bank for services rendered within three months before the date the bank was closed for liquidation and not exceeding:(A)  $2,000 to each employee;  or(B)  another amount set by rules adopted under this subtitle;(4)  current wages owed to a bank employee whose services are retained by the receiver for services rendered after the date the bank is closed for liquidation;(5)  an unpaid expense of supervision or conservatorship of the bank before its closing for liquidation;  and(6)  any unpaid fees or assessments owed to the department.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter A. General Provisions|Section 36.002. Remedies Exclusive

Sec. 36.002.  REMEDIES EXCLUSIVE.  (a)  Unless the banking commissioner so requests, a court may not:(1)  order the closing or suspension of operation of a state bank;  or(2)  appoint for a state bank a receiver, supervisor, conservator, liquidator, or other person with similar responsibility.(b)  A person may not be designated a receiver, supervisor, conservator, or liquidator without the voluntary approval of the banking commissioner.(c)  This chapter prevails over any conflicting law of this state.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter A. General Provisions|Section 36.003. Federal Deposit Insurance Corporation as Liquidator

Sec. 36.003.  FEDERAL DEPOSIT INSURANCE CORPORATION AS LIQUIDATOR.  (a)  The banking commissioner without court action may tender a state bank that has been closed for liquidation to the Federal Deposit Insurance Corporation or its successor as receiver and liquidating agent if the deposits of the bank were insured by the Federal Deposit Insurance Corporation or its successor on the date of closing.(b)  After acceptance of tender of the bank, the Federal Deposit Insurance Corporation or its successor shall perform the acts and duties as receiver of the bank that it considers necessary or desirable and that are permitted or required by federal law or this chapter.(c)  If the Federal Deposit Insurance Corporation or its successor refuses to accept tender of the bank, the banking commissioner shall act as receiver.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter A. General Provisions|Section 36.004. Appointment of Independent Receiver

Sec. 36.004.  APPOINTMENT OF INDEPENDENT RECEIVER.  (a)  On request of the banking commissioner, the court in which a liquidation proceeding is pending may:(1)  appoint an independent receiver;  and(2)  require a suitable bond of the independent receiver.(b)  On appointment of an independent receiver, the banking commissioner is discharged as receiver and remains a party to the liquidation proceeding with standing to initiate or contest any motion.  The views of the banking commissioner are entitled to deference unless they are inconsistent with the plain meaning of this chapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.005 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter A. General Provisions|Section 36.005. Succession of Trust Powers

Sec. 36.005.  SUCCESSION OF TRUST POWERS.  (a)  If a state bank in the process of voluntary or involuntary dissolution and liquidation is acting as trustee, guardian, executor, administrator, or escrow agent, or in another fiduciary or custodial capacity, the banking commissioner may authorize the sale of the bank's administration of fiduciary accounts to a successor entity with fiduciary powers.(b)  The successor entity, without the necessity of action by a court or the creator or a beneficiary of the fiduciary relationship, shall:(1)  continue the office, trust, or fiduciary relationship;  and(2)  perform all the duties and exercise all the powers connected with or incidental to the fiduciary relationship as if the successor entity had been originally designated as the fiduciary.(c)  This section applies to all fiduciary relationships, including a trust established for the benefit of a minor by court order under Section 142.005, Property Code.  This section does not affect any right of a court or a party to the instrument governing the fiduciary relationship to subsequently designate another trustee as the successor fiduciary.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.101 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter B. Voluntary Dissolution|Section 36.101. Initiating Voluntary Dissolution

Sec. 36.101.  INITIATING VOLUNTARY DISSOLUTION.  (a)  A state bank may initiate voluntary dissolution and surrender its charter as provided by this subchapter:(1)  with the approval of the banking commissioner;(2)  after complying with the provisions of the Business Organizations Code regarding board and shareholder approval for voluntary dissolution; and(3)  by filing the documents as provided by Section 36.102.(b)  The shareholders of a state bank initiating voluntary dissolution by resolution shall appoint one or more persons to act as the liquidating agent or committee.  The liquidating agent or committee shall conduct the liquidation as provided by law and under the supervision of the bank's board.  The board, in consultation with the banking commissioner, shall require the liquidating agent or committee to give a suitable bond.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 49, eff. September 1, 2007.|
TX Fin Code § 36.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter B. Voluntary Dissolution|Section 36.102. Filing Resolutions With Banking Commissioner

Sec. 36.102.  FILING RESOLUTIONS WITH BANKING COMMISSIONER.  After resolutions to dissolve and liquidate a state bank have been adopted by the bank's board and shareholders, a majority of the directors shall verify and file with the banking commissioner certified copies of:(1)  the resolutions of the shareholders that:(A)  are adopted at a meeting for which proper notice was given or by unanimous written consent; and(B)  approve the dissolution and liquidation of the bank;(2)  the resolutions of the board approving the dissolution and liquidation of the bank; and(3)  the notice to the shareholders informing them of the meeting.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 50, eff. September 1, 2007.Acts 2007, 80th Leg., R.S., Ch. 735 (H.B. 2754), Sec. 9, eff. September 1, 2007.|
TX Fin Code § 36.103 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter B. Voluntary Dissolution|Section 36.103. Banking Commissioner Investigation and Consent

Sec. 36.103.  BANKING COMMISSIONER INVESTIGATION AND CONSENT.  The banking commissioner shall review the documentation submitted under Section 36.102 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 bank to publish notice of its pending dissolution.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.104 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter B. Voluntary Dissolution|Section 36.104. Notice of Pending Dissolution

Sec. 36.104.  NOTICE OF PENDING DISSOLUTION.  (a)  A state bank initiating voluntary dissolution shall publish notice of its pending dissolution in a newspaper of general circulation in each community where its home office or a branch is located:(1)  at least once each week for eight consecutive weeks;  or(2)  at other times specified by the banking commissioner or rules adopted under this subtitle.(b)  The notice must:(1)  be in the form and include the information required by the banking commissioner;  and(2)  state that:(A)  the bank is liquidating;(B)  depositors and creditors must present their claims for payment on or before a specified date;  and(C)  all safe deposit box holders and bailors of property left with the bank should remove their property on or before a specified date.(c)  The dates selected by the bank under Subsection (b) must:(1)  be approved by the banking commissioner;  and(2)  allow:(A)  the affairs of the bank to be wound up as quickly as feasible;  and(B)  creditors, depositors, and owners of property adequate time for presentation of claims, withdrawal of accounts, and redemption of property.(d)  The banking commissioner may adjust the dates under Subsection (b) with or without republication of notice if additional time appears needed for the activities to which the dates pertain.(e)  At the time of or promptly after publication of the notice, the bank shall mail to each of the bank's known depositors, creditors, safe deposit box holders, and bailors of property left with the bank, at the mailing address shown on the bank's records, an individual notice containing:(1)  the information required in a notice under Subsection (b);  and(2)  specific information pertinent to the account or property of the addressee.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.105 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter B. Voluntary Dissolution|Section 36.105. Safe Deposits and Other Bailments

Sec. 36.105.  SAFE DEPOSITS AND OTHER BAILMENTS.  (a)  A contract between the bank and a person for bailment, of deposit for hire, or for lease of a safe, vault, or box ceases on the date specified in the notice as the date for removal of property or a later date approved by the banking commissioner.  A person who has paid rental or storage charges for a period extending beyond the date designated for removal of property has an unsecured claim against the bank for a refund of the unearned amount paid.(b)  If the property is not removed by the date the contract ceases, an officer of the bank shall inventory the property.  In making the inventory the officer may open a safe, vault, or box, or any package, parcel, or receptacle, in the custody or possession of the bank.  The inventory must be made in the presence of a notary public who is not an officer or employee of the bank and who is bonded in an amount and by sureties approved by the banking commissioner.  The property shall be marked to identify, to the extent possible, its owner or the person who left it with the bank.  After all property belonging to others that is in the bank's custody and control has been inventoried, a master list certified by the bank officer and the notary public shall be furnished to the banking commissioner.  The master list shall be kept in a place and dealt with in a manner the banking commissioner specifies pending delivery of the property to its owner or to the comptroller as unclaimed property.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.106 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter B. Voluntary Dissolution|Section 36.106. Offices to Remain Open

Sec. 36.106.  OFFICES TO REMAIN OPEN.  Unless the banking commissioner directs or consents otherwise, the home office and all branch offices of a state bank 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.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.107 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter B. Voluntary Dissolution|Section 36.107. Fiduciary Activities

Sec. 36.107.  FIDUCIARY ACTIVITIES.  (a)  As soon after publication of the notice of dissolution as is practicable, the bank shall:(1)  terminate all fiduciary positions it holds;(2)  surrender all property held by it as a fiduciary;  and(3)  settle its fiduciary accounts.(b)  Unless all fiduciary accounts are settled and transferred by the last date specified in published notices or by the banking commissioner and unless the banking commissioner directs otherwise, the bank shall mail a notice to each trustor and beneficiary of any remaining trust, escrow arrangement, or other fiduciary relationship.  The notice must state:(1)  the location of an office open during normal business hours where administration of the remaining fiduciary accounts will continue until settled or transferred;  and(2)  a telephone number at that office.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.108 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter B. Voluntary Dissolution|Section 36.108. Final Liquidation

Sec. 36.108.  FINAL LIQUIDATION.  (a)  After the bank has taken all of the actions specified by Sections 36.102, 36.105, and 36.107, paid all its debts and obligations, and transferred all property for which a legal claimant has been found after the time for presentation of claims has expired, the bank shall make a list from its books of the names of each depositor, creditor, owner of personal property in the bank's possession or custody, or lessee of any safe, vault, or box, who has not claimed or has not received a deposit, debt, dividend, interest, balance, or other amount or property due to the person.  The list must be sworn to or affirmed by a majority of the bank's board.(b)  The bank shall:(1)  file the list and any necessary identifying information with the banking commissioner;(2)  pay any unclaimed money and deliver any unclaimed property to the comptroller as provided by Chapter 74, Property Code;  and(3)  certify to the banking commissioner that the unclaimed money has been paid and unclaimed property has been delivered to the comptroller.(c)  After the banking commissioner has reviewed the list and has reconciled the unclaimed cash and property with the amounts of money and property reported and transferred to the comptroller, the banking commissioner shall allow the bank to distribute the bank's remaining assets, if any, among its shareholders as their ownership interests appear.(d)  After distribution of all remaining assets under Subsection (c), the bank shall file with the department:(1)  an affidavit and schedules, sworn to or affirmed by a majority of the bank's board, showing the distribution to each shareholder;(2)  all copies of reports of examination of the bank in its possession; and(3)  its original charter or an affidavit stating that the original charter is lost.(e)  After verifying the submitted information and documents, the banking commissioner shall issue a certificate canceling the charter of the bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 51, eff. September 1, 2007.|
TX Fin Code § 36.109 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter B. Voluntary Dissolution|Section 36.109. Application of Law to Bank in Dissolution

Sec. 36.109.  APPLICATION OF LAW TO BANK IN DISSOLUTION.  A state bank in the process of voluntary dissolution and liquidation remains subject to this subtitle and Chapters 11 and 12, including provisions for examination by the banking commissioner, and the bank shall furnish reports required by the banking commissioner.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 36.110 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle A - Banks|Chapter 36 - Dissolution and Receivership|Subchapter B. Voluntary Dissolution|Section 36.110. Authorization of Deviation From Procedures

Sec. 36.110.  AUTHORIZATION OF DEVIATION FROM PROCEDURES.  The banking commissioner may authorize a deviation from the procedures for voluntary dissolution in this subchapter if the banking commissioner determines that the interests of claimants are not jeopardized by the deviation.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|