reglab/housing_qa huggingface dataset:
TX Fin Code § 181.304 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 181 - General Provisions|Subchapter D. Confidentiality of Information|Section 181.304. Other Disclosure Prohibited; Penalty

Sec. 181.304.  OTHER DISCLOSURE PROHIBITED;  PENALTY.  (a)  Confidential information that is provided to a state trust company, affiliate, or service provider of the state trust company, whether in the form of a report of examination or otherwise, is the confidential property of the department.  The information may not be made public or disclosed by the recipient or by an officer, director, manager, employee, or agent of the recipient to a person not officially connected to the recipient as officer, director, employee, attorney, auditor, independent auditor, or bonding company, except as authorized by rules adopted under this subtitle.(b)  A person commits an offense if the person discloses or uses the confidential information in violation of this section.  An offense under this subsection is punishable as if it were an offense under Section 37.10, Penal Code.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 181.305 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 181 - General Provisions|Subchapter D. Confidentiality of Information|Section 181.305. Civil Discovery

Sec. 181.305.  CIVIL DISCOVERY.  Civil discovery of confidential information from a person subject to Section 181.304 under subpoena or other legal process in a civil proceeding must comply with rules adopted under this subtitle and other applicable law.  The rules may:(1)  restrict release of confidential information to the portion directly relevant to the legal dispute at issue;  and(2)  require that a protective order, in the form and under circumstances specified by the rules, be issued by a court before release of the confidential information.|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. 3.06, eff. Sept. 1, 2001.|
TX Fin Code § 181.306 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 181 - General Provisions|Subchapter D. Confidentiality of Information|Section 181.306. Investigative Information

Sec. 181.306.  INVESTIGATIVE INFORMATION.  Notwithstanding any other law, the banking commissioner may refuse to release information or records concerning a state trust company in the custody of the department if, in the opinion of the banking commissioner, release of the information or records might jeopardize an ongoing investigation of potentially unlawful activity.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 181.307 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 181 - General Provisions|Subchapter D. Confidentiality of Information|Section 181.307. Employment Information

Sec. 181.307.  EMPLOYMENT INFORMATION.  (a)  A person may provide employment information concerning the known or suspected involvement of a present or former employee, officer, or director of a state trust company in a violation of any state or federal law, rule, or regulation that has been reported to appropriate state or federal authorities to:(1)  a state trust company;  or(2)  a person providing employment information to a state trust company.(b)  A person may not be held liable for providing information under Subsection (a) unless the information provided is false and the person provided the information with disregard for the truth.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 181.308 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 181 - General Provisions|Subchapter D. Confidentiality of Information|Section 181.308. Shareholder Inspection Rights

Sec. 181.308.  SHAREHOLDER INSPECTION RIGHTS.  (a)  Notwithstanding Section 21.218 or 101.502, Business Organizations Code, a shareholder or participant of a state trust company may not examine:(1)  a report of examination or other confidential property of the department that is in the possession of the state trust company; or(2)  a book or record of the state trust company that directly or indirectly pertains to financial or other information maintained by the state trust company on behalf of its clients, including a specific item in the minutes of the board or a committee of the board regarding client account review and approval or any report that would tend to identify the state trust company's client.(b)  This section does not affect the rights of a shareholder or participant of a state trust company acting in another capacity.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 67, eff. September 1, 2007.|
TX Fin Code § 182.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.003. Application for State Trust Company Charter; Standards for Approval

Sec. 182.003.  APPLICATION FOR STATE TRUST COMPANY CHARTER;  STANDARDS FOR APPROVAL.  (a)  An application for a state trust company charter must be made under oath and in the form required by the banking commissioner.  The application must be supported by information, records, and opinions of counsel that the banking commissioner requires.  The application must be accompanied by all charter fees and deposits required by statute or rule.(b)  The banking commissioner shall grant a state trust company charter only on proof satisfactory to the banking commissioner that public convenience and advantage will be promoted by the establishment of the state trust company.  In determining whether public convenience and advantage will be promoted, the banking commissioner shall consider the convenience of the public to be served and whether:(1)  the organizational and capital structure and amount of initial capitalization is adequate for the business and location;(2)  the anticipated volume and nature of business indicates a reasonable probability of success and profitability based on the market sought to be served;(3)  the proposed officers, directors, and managers, or managing participants, as a group have sufficient fiduciary experience, ability, standing, competence, trustworthiness, and integrity to justify a belief that the state trust company will operate in compliance with law and that success of the state trust company is probable;(4)  each principal shareholder or participant has sufficient experience, ability, standing, competence, trustworthiness, and integrity to justify a belief that the state trust company will be free from improper or unlawful influence or interference with respect to the state trust company's operation in compliance with law;  and(5)  the organizers are acting in good faith.(c)  The organizers bear the burden of proof to establish that public convenience and advantage will be promoted by the establishment of the state trust company.  The failure of an applicant to furnish required information, opinions of counsel, and other material, or the required fee, is considered an abandonment of the application.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 182.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.004. Notice and Investigation of Charter Application

Sec. 182.004.  NOTICE AND INVESTIGATION OF CHARTER APPLICATION.  (a)  The organizers shall solicit comments and protests by publishing notice of the application, its date of filing, and the identity of the organizers, in the form and frequency specified by the banking commissioner, in a newspaper of general circulation in the county where the initial home office of the proposed state trust company is to be located, or in another publication or location as directed by the banking commissioner.  The banking commissioner may require the organizers to publish the notice at other locations reasonably necessary to solicit the views of potentially affected persons.(b)  At the expense of the organizers, the banking commissioner shall thoroughly investigate the application and inquire fully into the identity and character of each proposed director, manager, officer, managing participant, and principal shareholder or participant.  The banking commissioner shall prepare a written report of the investigation.(c)  Rules adopted under this subtitle may specify the confidential or nonconfidential character of information obtained or prepared by the department under this section.  Except as provided by Subchapter D, Chapter 181, or in rules regarding confidential information, the business plan of the applicant and the financial statement of a proposed officer, director, manager, or managing participant are confidential and not subject to public disclosure.|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. 3.07, eff. Sept. 1, 2001.Amended by: Acts 2007, 80th Leg., R.S., Ch. 735 (H.B. 2754), Sec. 11, eff. September 1, 2007.|
TX Fin Code § 182.006 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.006. Issuance of Charter

Sec. 182.006.  ISSUANCE OF CHARTER.  A state trust company may not engage in the trust business until it receives its charter from the banking commissioner.  The banking commissioner may not deliver the charter until the state trust company has:(1)  received cash in at least the full amount of restricted capital from subscriptions for the issuance of shares or participation shares;(2)  elected or qualified the initial officers and directors or managers, as appropriate, named in the application for charter or other officers and directors or managers approved by the banking commissioner;  and(3)  complied with all other requirements of this subtitle relating to the organization of the state trust company.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 182.007 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.007. Deadline to Begin Business

Sec. 182.007.  DEADLINE TO BEGIN BUSINESS.  If a state trust company does not open and engage in the trust business within six months after the date it receives its charter or conditional approval of application for charter, the banking commissioner may revoke the charter or cancel the conditional approval of application for charter without judicial action.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 182.009 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.009. Application of General Corporate Law

Sec. 182.009.  APPLICATION OF GENERAL CORPORATE LAW.  (a)  The Business Organizations Code applies to a trust association as if it were a for-profit corporation, and to a limited trust association as if it were a limited liability company, to the extent not inconsistent with this subtitle or the proper business of a state trust company, except that:(1)  a reference to the secretary of state means the banking commissioner unless the context requires otherwise; and(2)  the right of shareholders or participants to cumulative voting in the election of directors or managers exists only if granted by the state trust company's certificate of formation.(b)  Unless expressly authorized by this subtitle or a rule of the finance commission, a state trust company may not take an action authorized by a law listed under Subsection (a) regarding its corporate status, capital structure, or a matter of corporate governance, of the type for which a law listed under Subsection (a) would require a filing with the secretary of state if the state trust company were a filing entity, without submitting the filing to the banking commissioner for prior written approval of the action.(c)  The finance commission may adopt rules to alter or supplement the procedures and requirements of the laws listed by Subsection (a) applicable to an action taken under this chapter by a state trust company.(d)  In this subtitle, a reference to a term or phrase listed in a subdivision of Section 1.006, Business Organizations Code, includes a synonymous term or phrase referenced by the same subdivision in Section 1.006 of that code.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 528, Sec. 21, eff. Sept. 1, 2001.Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 68, eff. September 1, 2007.Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 18, eff. June 14, 2013.|
TX Fin Code § 182.0105 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.0105. Financial Activities

Sec. 182.0105.  FINANCIAL ACTIVITIES.  (a)  The finance commission by rule may determine that an activity not otherwise approved or authorized for state trust companies is:(1)  a financial activity;(2)  incidental to a financial activity;  or(3)  complementary to a financial activity.(b)  In adopting a rule under Subsection (a), the finance commission shall consider:(1)  the purposes of this subtitle and the Gramm-Leach-Bliley Act (Pub.  L. No. 106-102);(2)  changes or reasonably expected changes in the marketplace in which state trust companies compete;(3)  changes or reasonably expected changes in the technology for delivering fiduciary and financial services;(4)  whether the activity is necessary or appropriate to allow a state trust company to:(A)  compete effectively with another company seeking to provide fiduciary and financial services;(B)  efficiently deliver information and services that are financial in nature through the use of technological means, including an application necessary to protect the security or efficacy of systems for the transmission of data or financial transactions;  or(C)  offer customers available or emerging technological means for using fiduciary and financial services or for the document imaging of data;(5)  whether the activity would violate applicable fiduciary duties or otherwise pose a substantial risk to the safety and soundness of a state trust company or the fiduciary and financial system generally;  and(6)  if otherwise determined to be permissible, whether the conduct of the activity by a state trust company should be qualified through the imposition of reasonable and necessary conditions to protect the public and require appropriate regard for safety and soundness of the trust company and the fiduciary and financial system generally.(c)  A rule adopted by the finance commission under this section does not alter or negate applicable licensing and regulatory requirements administered by a functional regulatory agency of this state, as defined by Section 31.303, including licensing and regulatory requirements pertaining to:(1)  insurance activities;(2)  securities activities;  and(3)  real estate development, marketing, and sales activities.|Added by Acts 2001, 77th Leg., ch. 528, Sec. 22, eff. Sept. 1, 2001.|
TX Fin Code § 182.012 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.012. Application for Exemption

Sec. 182.012.  APPLICATION FOR EXEMPTION.  (a)  A state trust company requesting an exemption under Section 182.011 shall file an application with the banking commissioner that includes:(1)  a nonrefundable application fee set by the finance commission;(2)  a detailed sworn statement showing the state trust company's assets and liabilities as of the end of the calendar month preceding the filing of the application;(3)  a sworn statement of the reason for requesting the exemption;(4)  a sworn statement that the state trust company:(A)  has or will have only family clients and transacts or will transact business solely on behalf of family clients and their related interests;(B)  is or will be wholly owned, directly or indirectly, legally or beneficially, by one or more family members;(C)  does not or will not hold itself out to the general public as a corporate fiduciary for hire; and(D)  will not transact business with the general public without the prior written permission of the banking commissioner;(5)  the current street mailing address and telephone number of the physical location in this state at which the state trust company will maintain its books and records, with a sworn statement that the address given is true and correct and is not a United States Postal Service post office box or a private mail box, postal box, or mail drop; and(6)  a list of the specific provisions of this subtitle for which the request for an exemption is made.(b)  The banking commissioner may not approve an exemption unless the application is completed as required by Subsection (a).(c)  In this section, "family client" and "family member" have the meanings assigned by Section 182.011.|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. 250 (S.B. 875), Sec. 6, eff. September 1, 2015.|
TX Fin Code § 182.013 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.013. Annual Certification for Exempt State Trust Company

Sec. 182.013.  ANNUAL CERTIFICATION FOR EXEMPT STATE TRUST COMPANY.  (a)  An exempt state trust company shall file a certification annually with its statement of condition and income, on a form provided by the banking commissioner, that it is maintaining the conditions and limitations of its exemption.  The certification must be accompanied by a fee set by the finance commission. (b)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 250 , Sec. 11(2), eff. September 1, 2015.(c)  The state trust company shall maintain records necessary to verify the certification.  The records are subject to examination under Section 181.104.|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. 250 (S.B. 875), Sec. 7, eff. September 1, 2015.Acts 2015, 84th Leg., R.S., Ch. 250 (S.B. 875), Sec. 11(2), eff. September 1, 2015.|
TX Fin Code § 182.014 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.014. Limitation on Effect of Exemption

Sec. 182.014.  LIMITATION ON EFFECT OF EXEMPTION.  (a)  An exempt state trust company shall comply with the home office provisions of Section 182.202.(b)  The grant of an exemption to a state trust company does not affect the state trust company's obligation to pay any corporate franchise tax required by state law.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 182.015 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.015. Change of Control of Exempt State Trust Company

Sec. 182.015.  CHANGE OF CONTROL OF EXEMPT STATE TRUST COMPANY.   If control of an exempt state trust company is sold or otherwise transferred, the acquiring person must comply with Sections 182.003, 182.004, 182.005, 183.001, and 183.002.  For the exempt status of the state trust company to continue, the acquiring person must file a certification with the banking commissioner that the state trust company will comply, or continue to comply, with the requirements of Section 182.011 after control is transferred.  The banking commissioner may examine or investigate the acquiring person and the state trust company as necessary to verify the certification.  If the commissioner determines that the state trust company will not comply, or continue to comply, with the requirements of Section 182.011 after control is transferred, the commissioner shall terminate the exemption on the effective date of the transfer.  After the termination, the acquiring person must file a separate application to obtain a new exemption for the state trust company under Section 182.011.|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. 250 (S.B. 875), Sec. 8, eff. September 1, 2015.|
TX Fin Code § 182.016 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.016. Grounds for Revocation of Exemption

Sec. 182.016.  GROUNDS FOR REVOCATION OF EXEMPTION.  The banking commissioner may revoke an exemption of a state trust company if the trust company:(1)  makes a false statement under oath on any document required to be filed by this subtitle or finance commission rule;(2)  fails to submit to an examination as required by Section 181.104;(3)  withholds requested information from the banking commissioner;  or(4)  violates any provision of this subtitle applicable to an exempt state trust company.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 182.017 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 182 - Powers, Organization, and Financial Requirements|Subchapter A. Organization and Powers in General|Section 182.017. Notice and Effect of Revocation of Exemption

Sec. 182.017.  NOTICE AND EFFECT OF REVOCATION OF EXEMPTION.  (a)  If the banking commissioner determines from examination or other credible evidence that an exempt state trust company has violated any of the requirements of this subchapter relating to an exempt state trust company, the banking commissioner may by personal delivery or registered or certified mail, return receipt requested, notify the state trust company in writing that the state trust company's exemption has been revoked.  The notice must state grounds for the revocation with reasonable certainty.  The notice must state its effective date, which may not be earlier than the fifth day after the date the notification is mailed or delivered.(b)  The revocation takes effect for the state trust company if the state trust company does not request a hearing in writing before the effective date.  After taking effect the revocation is final and nonappealable as to that state trust company, and the state trust company is subject to all of the requirements and provisions of this subtitle applicable to nonexempt state trust companies.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|