reglab/housing_qa huggingface dataset:
TX Fin Code § 185.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.002. Cease and Desist Order

Sec. 185.002.  CEASE AND DESIST ORDER.  (a)  The banking commissioner has grounds to issue a cease and desist order to an officer, employee, director, manager, or managing participant of a state trust company, or the state trust company itself acting through an authorized person, if the banking commissioner determines from examination or other credible evidence that the state trust company or person directly or indirectly has:(1)  violated this subtitle or another applicable law or rule;(2)  engaged in a breach of trust or other fiduciary duty;(3)  refused to submit to examination or examination under oath;(4)  conducted business in an unsafe or unsound manner;  or(5)  violated a condition of the state trust company's charter or an agreement between the state trust company or the person and the banking commissioner or the department.(b)  If the banking commissioner has grounds for action under Subsection (a) and finds that an order to cease and desist from a violation or other conduct described by Subsection (a) appears to be necessary and in the best interest of a state trust company involved and its clients, creditors, and shareholders or participants, the banking commissioner may serve a proposed cease and desist order on the state trust company and each person who committed or participated in the violation.  The order must:(1)  be delivered by personal delivery or by registered or certified mail, return receipt requested;(2)  state with reasonable certainty the grounds for the order;  and(3)  state the effective date of the order, which may not be earlier than the 21st day after the date the order is mailed or delivered.(b-1)  A proposed cease and desist order may require an officer, employee, director, manager, or managing participant of a state trust company, or the state trust company itself acting through an authorized person, to cease or desist from a violation or other practice or to take affirmative action to correct the conditions resulting from a violation or other practice, including the payment of restitution or other action that the banking commissioner determines is appropriate.(c)  The order takes effect if the state trust company or person against whom the order is directed does not request a hearing in writing before the effective date.  After taking effect, the order is final and nonappealable as to that state trust company or person.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.Amended by: Acts 2015, 84th Leg., R.S., Ch. 422 (H.B. 3555), Sec. 10, eff. September 1, 2015.|
TX Fin Code § 185.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.004. Hearing on Proposed Order

Sec. 185.004.  HEARING ON PROPOSED ORDER.  (a)  A requested hearing on a proposed order shall be held not later than the 30th day after the date the first request for a hearing on the order was received by the banking commissioner unless the parties agree to a later hearing date.  Not later than the 11th day before the date of the hearing, each party shall be given written notice by personal delivery or by registered or certified mail, return receipt requested, of the date set by the banking commissioner for the hearing.  At the hearing, the banking commissioner has the burden of proof, and each person against whom the order is directed may cross-examine witnesses and present evidence to show why the order should not be issued.(b)  After the hearing, the banking commissioner shall issue or decline to issue the order.  The order may be modified as necessary to conform to the findings at the hearing and to require the board to take necessary affirmative action to correct the conditions cited in the order.(c)  An order issued under this section is immediately final for purposes of enforcement and appeal.  The order may be appealed as provided by Sections 181.202 and 181.204.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.Amended by: Acts 2019, 86th Leg., R.S., Ch. 20 (S.B. 614), Sec. 25, eff. September 1, 2019.|
TX Fin Code § 185.005 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.005. Emergency Order

Sec. 185.005.  EMERGENCY ORDER.  (a)  If the banking commissioner believes that immediate action is needed to prevent immediate and irreparable harm to the state trust company and its clients, creditors, and shareholders or participants, the banking commissioner may issue one or more cease and desist, removal, or prohibition orders as emergency orders to become effective immediately on service without prior notice or hearing.  Service must be by personal delivery or by registered or certified mail, return receipt requested.(b)  In each emergency order the banking commissioner shall notify the state trust company and any person against whom the emergency order is directed of:(1)  the specific conduct requiring the order;(2)  the citation of each statute or rule alleged to have been violated;(3)  the immediate and irreparable harm alleged to be threatened;(4)  the duration of the order, including whether the duration of the order is perpetual; and(5)  the right to a hearing.(c)  Unless a person against whom the order is directed requests a hearing in writing before the 11th day after the date the order is served on the person, the order is final and nonappealable as to that person.(d)  A hearing requested under Subsection (c) must be:(1)  given priority over all other matters pending before the banking commissioner;  and(2)  held not later than the 20th day after the date the hearing is requested unless the parties agree to a later hearing date.(e)  After the hearing, the banking commissioner may affirm, modify, or set aside in whole or part the emergency order.  An order affirming or modifying the order is immediately final for purposes of enforcement and appeal.  The order may be appealed as provided by Sections 181.202 and 181.204.(f)  An emergency order continues in effect unless the order is stayed by the banking commissioner.  The banking commissioner may impose any condition before granting a stay of the emergency order.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 183 (S.B. 1165), Sec. 10, eff. May 28, 2011.Acts 2019, 86th Leg., R.S., Ch. 20 (S.B. 614), Sec. 26, eff. September 1, 2019.|
TX Fin Code § 185.006 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.006. Copy of Letter or Order in State Trust Company Records

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.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 185.007 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.007. Effect of Final Removal or Prohibition Order

Sec. 185.007.  EFFECT OF FINAL REMOVAL OR PROHIBITION ORDER.  (a)  Except as provided by other law, without the prior written approval of the banking commissioner, a person subject to a final and enforceable removal or prohibition order issued by the banking commissioner, or by another state, federal, or foreign financial institution regulatory agency, may not:(1)  serve as a director, officer, or employee of a state trust company, state bank, or holding company of a state bank, or as a director, officer, or employee with financial responsibility of any other entity chartered, registered, permitted, or licensed by the banking commissioner under the laws of this state while the order is in effect;(2)  directly or indirectly participate in any manner in the management of such an entity;(3)  directly or indirectly vote for a director of such an entity; or(4)  solicit, procure, transfer, attempt to transfer, vote, or attempt to vote a proxy, consent, or authorization with respect to voting rights in such an entity.(b)  The person subject to the order remains entitled to receive dividends or a share of profits, return of contribution, or other distributive benefit from an entity identified in Subsection (a)(1) with respect to voting securities in the entity owned by the person.(c)  If voting securities of an entity identified in Subsection (a)(1) cannot be voted under this section, the voting securities are considered to be authorized but unissued for purposes of determining the procedures for and results of the affected vote.(d)  Participants of a limited trust association in which a participant has been finally removed or prohibited from participation in the state trust company's affairs under this subchapter shall elect a board of managers.(e)  This section and Section 185.008 do not prohibit a removal or prohibition order that has indefinite duration or that by its terms is perpetual.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 412, Sec. 3.10, eff. Sept. 1, 2001;  Acts 2001, 77th Leg., ch. 1420, Sec. 6.018(a), eff. Sept. 1, 2001.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 183 (S.B. 1165), Sec. 11, eff. May 28, 2011.Acts 2017, 85th Leg., R.S., Ch. 599 (S.B. 1401), Sec. 15, eff. September 1, 2017.|
TX Fin Code § 185.0071 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.0071. Application for Release From Final Removal or Prohibition Order

Sec. 185.0071.  APPLICATION FOR RELEASE FROM FINAL REMOVAL OR PROHIBITION ORDER.  (a)  After the expiration of 10 years from the date of issuance, a person who is subject to a prohibition or removal order issued under this subchapter, regardless of the order's stated duration or date of issuance, may apply to the banking commissioner to be released from the order.(b)  The application must be made under oath and in the form required by the banking commissioner.  The application must be accompanied by any required fees.(c)  The banking commissioner, in the exercise of discretion, may approve or deny an application filed under this section.(d)  The banking commissioner's decision under Subsection (c) is final and not appealable.|Added by Acts 2011, 82nd Leg., R.S., Ch. 183 (S.B. 1165), Sec. 12, eff. May 28, 2011.|
TX Fin Code § 185.008 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.008. Limitation on Action

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.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 185.009 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.009. Enforcement by Commissioner

Sec. 185.009.  ENFORCEMENT BY COMMISSIONER.  (a)  If the banking commissioner reasonably believes that a state trust company or other person has violated any of the following, the banking commissioner may take any action authorized under Subsection (a-1):(1)  this subtitle or rules enacted under this subtitle and, as a result of that violation, exposed or could have exposed the state trust company or its clients, creditors, shareholders, or participants to harm;(2)  other applicable law of this state and, as a result of that violation, exposed or could have exposed the state trust company or its clients, creditors, shareholders, or participants to harm; or(3)  a final order issued by the banking commissioner.(a-1)  The banking commissioner may:(1)  initiate administrative penalty proceedings against the state trust company or other person, as applicable, in accordance with Sections 185.010 and 185.011;(2)  refer the matter to the attorney general for enforcement by injunction or other available remedy; or(3)  pursue any other action the banking commissioner considers appropriate under applicable law.(b)  If the attorney general prevails in an action brought under Subsection (a-1)(2), the attorney general is entitled to recover reasonable attorney's fees from a state trust company or person committing the violation.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 183 (S.B. 1165), Sec. 13, eff. May 28, 2011.|
TX Fin Code § 185.010 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.010. Administrative Penalty

Sec. 185.010.  ADMINISTRATIVE PENALTY.  (a)  The banking commissioner may initiate a proceeding for an administrative penalty against a state trust company or other person by serving on the state trust company or other person, as applicable, notice of the time and place of a hearing on the penalty.  The hearing may not be held earlier than the 20th day after the date the notice is served.  The notice must:(1)  be served by personal delivery or by registered or certified mail, return receipt requested;(2)  contain a statement of the conduct alleged to constitute a violation; and(3)  if the alleged violation is described by Section 185.009(a)(1) or (2), identify corrective action that the state trust company or other person must take to avoid or reduce the amount of a penalty that would otherwise be imposed under this section.(b)  In determining the amount of any penalty to be imposed, the banking commissioner shall consider the following factors:(1)  the financial resources of the state trust company or other person;(2)  the good faith of the state trust company or other person, including any corrective action taken;(3)  the gravity of the violation;(4)  the history of previous violations;(5)  an offset of the amount of the penalty by the amount of any penalty imposed by another state or federal agency for the same conduct; and(6)  any other matter that justice may require.(c)  If the banking commissioner determines after the hearing that the alleged conduct occurred and that the conduct constitutes a violation, the banking commissioner may impose an administrative penalty against a state trust company or other person, as applicable, in an amount:(1)  if imposed against a state trust company, not more than $10,000 for each violation for each day the violation continues, except that the maximum administrative penalty that may be imposed is the lesser of $500,000 or one percent of the state trust company's assets; or(2)  if imposed against a person other than a state trust company, not more than $5,000 for each violation for each day the violation continues, except that the maximum administrative penalty that may be imposed is $250,000.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 183 (S.B. 1165), Sec. 14, eff. May 28, 2011.Acts 2019, 86th Leg., R.S., Ch. 652 (S.B. 1823), Sec. 10, eff. September 1, 2019.|
TX Fin Code § 185.011 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.011. Payment or Appeal of Administrative Penalty

Sec. 185.011.  PAYMENT OR APPEAL OF ADMINISTRATIVE PENALTY.  (a)  When a penalty order under Section 185.010 becomes final, a state trust company or other person, as applicable, shall pay the penalty or appeal by filing a petition for judicial review.(b)  The petition for judicial review stays the penalty order during the period preceding the decision of the court.  If the court sustains the order, the court shall order the state trust company or other person, as applicable, 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.  If the final judgment of the court requires payment of a penalty, interest accrues on the penalty, at the rate charged on loans to depository institutions by the Federal Reserve Bank of New York, beginning on the date the judgment is final and ending on the date the penalty and interest are paid.(c)  If the state trust company or other person, as applicable, does not pay the penalty imposed under a final and nonappealable penalty order, the banking commissioner shall refer the matter to the attorney general for enforcement.  The attorney general is entitled to recover reasonable attorney's fees from the state trust company or other person, as applicable, if the attorney general prevails in judicial action necessary for collection of the penalty.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 183 (S.B. 1165), Sec. 15, eff. May 28, 2011.|
TX Fin Code § 185.012 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.012. Confidentiality of Records

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.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 183 (S.B. 1165), Sec. 16, eff. May 28, 2011.|
TX Fin Code § 185.013 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter A. Enforcement Orders|Section 185.013. Collection of Fees

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:(1)  the levy of the fee or the delinquency of the stated fee amount;  and(2)  compliance by the banking commissioner with the law relating to the computation and levy of the fee.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 185.1001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter B. Supervision and Conservatorship|Section 185.1001. Applicability to State Trust Company Subsidiaries

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.|Added by Acts 2015, 84th Leg., R.S., Ch. 422 (H.B. 3555), Sec. 13, eff. September 1, 2015.|
TX Fin Code § 185.101 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter B. Supervision and Conservatorship|Section 185.101. Order of Supervision

Sec. 185.101.  ORDER OF SUPERVISION.  (a)  The banking commissioner by order may appoint a supervisor over a state trust company if the banking commissioner determines from examination or other credible evidence that the state trust company is in hazardous condition and that an order of supervision appears to be necessary and in the best interest of the state trust company and its clients, creditors, and shareholders or participants, or the public.(b)  The banking commissioner may issue the order without prior notice.(c)  Subject to Subsection (d), the supervisor serves until the earlier of:(1)  the expiration of the period stated in the order of supervision; or(2)  the date the banking commissioner determines that the requirements for abatement of the order have been satisfied.(d)  The banking commissioner may terminate an order of supervision at any time.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.Amended by: Acts 2017, 85th Leg., R.S., Ch. 599 (S.B. 1401), Sec. 16, eff. September 1, 2017.|
TX Fin Code § 185.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 185 - Enforcement Actions|Subchapter B. Supervision and Conservatorship|Section 185.102. Order of Conservatorship

Sec. 185.102.  ORDER OF CONSERVATORSHIP.  (a)  The banking commissioner by order may appoint a conservator for a state trust company if the banking commissioner determines from examination or other credible evidence that the state trust company is in hazardous condition and immediate and irreparable harm is threatened to the state trust company, its clients, creditors, or shareholders or participants, or the public.(b)  The banking commissioner may issue the order without prior notice at any time before, during, or after the period of supervision.(c)  An order of conservatorship issued under this section must specifically state the basis for the order.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|