reglab/housing_qa huggingface dataset:
TX Fin Code § 273.307 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter D. Primary and Administrative Accounts; Issuance of Securities|Section 273.307. Allocation of Security Issue

Sec. 273.307.  ALLOCATION OF SECURITY ISSUE.  The corporation shall allocate each security issue under Section 273.301 ratably among the member associations based on the ratio of each association's total assets on December 31 of the year preceding the date on which the securities are purchased to the total assets of all member associations on that date.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 273.308 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter D. Primary and Administrative Accounts; Issuance of Securities|Section 273.308. Limitation on Issuance of Securities

Sec. 273.308.  LIMITATION ON ISSUANCE OF SECURITIES.  When the balance of the administrative account reaches the greater of $50 million or five percent of the balance of the primary account, the corporation shall stop issuing securities until the balance of the administrative account is less than $50 million or five percent of the balance of the primary account, as appropriate.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 273.401 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter E. Assistance Provided to Member Associations Under Conservatorship|Section 273.401. General Assistance

Sec. 273.401.  GENERAL ASSISTANCE.  On the commissioner's request and under the commissioner's instruction, the corporation shall assist in the merger, consolidation, conservation, rehabilitation, or supervision of a member association under conservatorship.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 273.402 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter E. Assistance Provided to Member Associations Under Conservatorship|Section 273.402. Assistance in Transferring or Disposing of Property

Sec. 273.402.  ASSISTANCE IN TRANSFERRING OR DISPOSING OF PROPERTY.  The corporation shall make or issue to the appropriate person, with the commissioner's approval, a guaranty or other form of written assurance that is reasonably necessary to facilitate the transfer or other disposition of all or part of the property of a member association under conservatorship.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 273.403 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter E. Assistance Provided to Member Associations Under Conservatorship|Section 273.403. Advance of Money

Sec. 273.403.  ADVANCE OF MONEY.  (a)  The corporation shall advance money on terms the board may establish to directly aid or to provide special services for a member association under conservatorship so the association may continue to operate and maintain solvency.(b)  The corporation may charge interest on the money it advances under this section.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 273.404 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter E. Assistance Provided to Member Associations Under Conservatorship|Section 273.404. Purchase of Interest in Assets

Sec. 273.404.  PURCHASE OF INTEREST IN ASSETS.  (a)  The corporation shall purchase from a member association under conservatorship an interest in the association's assets at a price agreed to by the conservator and the board, regardless of whether the price exceeds the market value of the purchased assets.(b)  A purchase must be made on the terms the board determines.  The commissioner must approve the terms of the purchase in writing.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 273.405 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter E. Assistance Provided to Member Associations Under Conservatorship|Section 273.405. Procedure for Merger, Sale of Control Of, or Sale of Assets

Sec. 273.405.  PROCEDURE FOR MERGER, SALE OF CONTROL OF, OR SALE OF ASSETS.  A merger, sale of control, or sale of any of the assets of a member association under conservatorship in aid of which money from an account under this chapter has been advanced may be accomplished in the form and by the procedure the board and the commissioner consider appropriate.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 273.501 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter F. Administrative Provisions|Section 273.501. Annual Financial Statement

Sec. 273.501.  ANNUAL FINANCIAL STATEMENT.  (a)  Not later than April 1 of each year, the board shall submit to the commissioner an audited financial statement for the preceding calendar year, prepared in accordance with consistently applied generally accepted accounting principles.(b)  An independent certified public accountant must certify the financial statement.(c)  The commissioner may require additional necessary information.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 273.502 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter F. Administrative Provisions|Section 273.502. Effect of Membership

Sec. 273.502.  EFFECT OF MEMBERSHIP.  In regulating a savings and loan association, the commissioner may not give preferential treatment to or discriminate against that association solely because that association is or is not a member of the corporation.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 273.503 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter F. Administrative Provisions|Section 273.503. Amount to Be Spent Before Certification of Insolvency of Member Association

Sec. 273.503.  AMOUNT TO BE SPENT BEFORE CERTIFICATION OF INSOLVENCY OF MEMBER ASSOCIATION.  The commissioner must spend the amount prescribed by Section 273.201(a)(7) before certifying a member association to be insolvent.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 273.504 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 273 - Savings and Loan Supplemental Fund Act|Subchapter F. Administrative Provisions|Section 273.504. Fee and Tax Exemption

Sec. 273.504.  FEE AND TAX EXEMPTION.  The corporation is exempt from fees and taxes imposed by this state or a political subdivision of this state, except a tax imposed on real property.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter A. General Provisions|Section 274.001. Definitions

Sec. 274.001.  DEFINITIONS.  In this chapter:(1)  "Bank" has the meaning assigned by Section 31.002(a)(2), excluding a bank that does not have its main office or a branch located in this state.(2)  "Bank holding company" has the meaning assigned by Section 2(a), Bank Holding Company Act of 1956 (12 U.S.C. Section 1841(a)), as amended.(3)  "Commissioner" means the banking commissioner of Texas.(4)  "Fiduciary" means an entity responsible for managing a fiduciary account.(5)  "Fiduciary account" means an account with a situs of administration in this state involving the exercise of a corporate purpose specified by Section 182.001(b).|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.51, eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 344, Sec. 2.030, eff. Sept. 1, 1999.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 78, eff. September 1, 2007.|
TX Fin Code § 274.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter A. General Provisions|Section 274.002. Affiliated Bank

Sec. 274.002.  AFFILIATED BANK.  A bank is affiliated with a subsidiary trust company if more than 50 percent of the bank's voting stock is directly or indirectly owned by a bank holding company that owns more than 50 percent of the voting stock of the subsidiary trust company.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.030, eff. Sept. 1, 1999.|
TX Fin Code § 274.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter A. General Provisions|Section 274.003. Subsidiary Trust Company

Sec. 274.003.  SUBSIDIARY TRUST COMPANY.  An entity is a subsidiary trust company of a bank holding company if:(1)  the entity is a:(A)  trust company organized under Subchapter A, Chapter 182; or(B)  bank that is organized to conduct a trust business and any incidental business or to exercise trust powers; and(2)  more than 50 percent of the voting stock of the entity is directly or indirectly owned by the bank holding company.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.52, eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 344, Sec. 2.030, eff. Sept. 1, 1999.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 79, eff. September 1, 2007.|
TX Fin Code § 274.101 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries|Section 274.101. Agreement to Substitute Fiduciaries

Sec. 274.101.  AGREEMENT TO SUBSTITUTE FIDUCIARIES.  (a)  A subsidiary trust company may enter into an agreement with an affiliated bank of the company to substitute the company as fiduciary for the bank in each fiduciary account listed in the agreement, provided the situs of account administration is not moved outside of this state without the express written consent of all persons entitled to notice under Sections 274.103(a) and (c).(b)  The agreement must include:(1)  a list of each fiduciary account for which substitution is requested;(2)  a statement of whether the substitution will cause a change in the situs of administration of each fiduciary account;  and(3)  the effective date of the substitution, which may not be before the 91st day after the date of the agreement.(c)  The agreement must be filed with the commissioner before the date the substitution takes effect.(d)  A fiduciary account may be removed from the operation of the agreement by the filing of an amendment to the agreement with the commissioner before the effective date stated in the agreement.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.031, eff. Sept. 1, 1999.|
TX Fin Code § 274.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries|Section 274.102. Situs of Account Administration

Sec. 274.102.  SITUS OF ACCOUNT ADMINISTRATION.  The situs of administration of a fiduciary account is the county in this state in which the fiduciary maintains the office that is primarily responsible for dealing with the parties involved in the account.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.032, eff. Sept. 1, 1999.|
TX Fin Code § 274.103 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries|Section 274.103. Notice of Substitution

Sec. 274.103.  NOTICE OF SUBSTITUTION.  (a)  Not later than the 91st day before the effective date of a substitution under Section 274.101, the parties to the substitution agreement shall send notice of the substitution to:(1)  any other fiduciary;(2)  each surviving settlor of a trust relating to the fiduciary account;(3)  each issuer of a security for which the affiliated bank administers the fiduciary account;(4)  the plan sponsor of each employee benefit plan relating to the fiduciary account;(5)  the principal of each agency account;  and(6)  the guardian of the person of each ward that has the fiduciary account resulting from a guardianship.(b)  If the substitution does not cause a change in the situs of administration of a fiduciary account, the parties to the substitution agreement shall also send notice of the substitution to each person who is readily ascertainable as a beneficiary of the account because the person has received account statements or because a parent, conservator, or guardian of a minor beneficiary has received account statements on the minor's behalf.(c)  If the substitution causes a change in the situs of administration of a fiduciary account, the parties to the substitution agreement shall also send notice of the substitution to:(1)  each adult beneficiary of a trust relating to the account;(2)  each parent, conservator, or guardian of a minor beneficiary receiving or entitled to receive current distributions of income or principal from the account;  and(3)  each person who individually or jointly has the power to remove the fiduciary being substituted.(d)  The notice must be sent by United States mail to the person's current address as shown on the fiduciary's records.  The fiduciary shall make a reasonable attempt to ascertain the address of a person who does not have an address shown on the fiduciary's records.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.104 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries|Section 274.104. Form of Notice of Substitution

Sec. 274.104.  FORM OF NOTICE OF SUBSTITUTION.  The notice required under Section 274.103 must be in writing and disclose:(1)  the effect the substitution of fiduciary will have on the situs of administration of the fiduciary account;(2)  the person's rights with respect to objecting to the substitution;  and(3)  the liability of the existing fiduciary and the substitute fiduciary for their actions.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.105 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries|Section 274.105. Failure to Send Notice of Substitution; Defective Notice

Sec. 274.105.  FAILURE TO SEND NOTICE OF SUBSTITUTION;  DEFECTIVE NOTICE.  (a)  If the parties to a substitution agreement under Section 274.101 intentionally fail to send the required notice under Section 274.103, the substitution of the fiduciary is ineffective.(b)  If the parties unintentionally fail to send the required notice, the substitution of the fiduciary is not impaired.(c)  If a substitution of a fiduciary is ineffective because of a defect in the required notice, any action taken by a subsidiary trust company before the substitution is determined to be ineffective is valid if the action would have been valid if performed by the affiliated bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.106 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries|Section 274.106. Effective Date of Substitution of Fiduciaries

Sec. 274.106.  EFFECTIVE DATE OF SUBSTITUTION OF FIDUCIARIES.  (a)  The substitution takes effect on the effective date stated in the substitution agreement unless, not later than the 16th day before the effective date:(1)  each party entitled to receive notice of the substitution under Sections 274.103(a) and (c) provides the affiliated bank with a written objection to the substitution;  or(2)  a party entitled to receive notice of the substitution under Section 274.103 files a written petition in a court seeking to have the substitution denied under Section 274.107 and provides the affiliated bank with a copy of the petition.(b)  A substitution that is objected to under Subsection (a)(1) takes effect when:(1)  one of the parties objecting to the substitution removes the party's objection in writing;  or(2)  the bank obtains a final court order approving the substitution.(c)  A substitution that is objected to under Subsection (a)(2) takes effect when:(1)  the petition is withdrawn or dismissed;  or(2)  the court enters a final order denying the relief sought.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.107 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries|Section 274.107. Hearing on Agreement to Substitute Fiduciaries

Sec. 274.107.  HEARING ON AGREEMENT TO SUBSTITUTE FIDUCIARIES.  (a)  A court may deny the substitution if the court, after notice and hearing, determines:(1)  if the substitution will not cause a change in the situs of administration of a fiduciary account, that the substitution is materially detrimental to the account or to its beneficiaries;  or(2)  if the substitution will cause a change in the situs of administration of a fiduciary account, that the substitution is not in the best interests of the account or its beneficiaries.(b)  The court shall allow a substitution that will cause the situs of administration of a fiduciary account to change if the court, after notice and hearing, determines that the substitution is in the best interests of the account and its beneficiaries.(c)  In a proceeding under this section, the court may award costs and reasonable and necessary attorney's fees as the court considers equitable and just.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.108 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries|Section 274.108. Subsidiary Trust Company as Substitute Fiduciary

Sec. 274.108.  SUBSIDIARY TRUST COMPANY AS SUBSTITUTE FIDUCIARY.  On the effective date of the substitution as prescribed by Section 274.106, the subsidiary trust company:(1)  without the necessity of an instrument of transfer or conveyance, succeeds to all interest in property the affiliated bank holds for the fiduciary account being substituted;  and(2)  without the necessity of judicial action or action by the creator of the fiduciary account, becomes fiduciary of the account and shall perform the duties and exercise the powers of a fiduciary in the same manner as if the company had originally been designated fiduciary.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.109 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries|Section 274.109. Notice of Change in Situs of Administration of Fiduciary Account Following Substitution

Sec. 274.109.  NOTICE OF CHANGE IN SITUS OF ADMINISTRATION OF FIDUCIARY ACCOUNT FOLLOWING SUBSTITUTION.  (a)  If the fiduciary of a fiduciary account has changed as a result of a substitution agreement under Section 274.101, the substitute fiduciary shall send notice of a change in the situs of administration of the account after the substitution to each person entitled to notice under Sections 274.103(a) and (c) not later than the 91st day before the effective date of the change.(b)  The notice must be sent by United States mail to the person's current address as shown on the fiduciary's records.  The fiduciary shall make a reasonable attempt to ascertain the address of a person who does not have an address shown on the fiduciary's records.(c)  The notice must disclose:(1)  the effect that the change will have on the situs of administration of the account;(2)  the effective date of the change;  and(3)  the person's rights with respect to objecting to the change.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.110 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 274 - Substitute or Successor Fiduciary|Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries|Section 274.110. Failure to Send Notice of Change in Situs of Administration

Sec. 274.110.  FAILURE TO SEND NOTICE OF CHANGE IN SITUS OF ADMINISTRATION.  (a)  If the substitute fiduciary of a fiduciary account intentionally fails to send the required notice under Section 274.109, the change in the situs of administration is ineffective.(b)  If the substitute fiduciary unintentionally fails to send the required notice, the change in the situs of administration is not impaired.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|