reglab/statecodes huggingface dataset:
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter C. Involuntary Dissolution and Liquidation › Section 36.222. Safe Deposits and Other Bailments

Sec. 36.222.  SAFE DEPOSITS AND OTHER BAILMENTS.  (a)  A contract between the bank and another person for bailment, of deposit for hire, or for lease of a safe, vault, or box ceases on the date specified for removal of property in the notices that were published and mailed or a later date approved by the receiver or the court.  A person who has paid rental or storage charges for a period extending beyond the date designated for removal of property has a claim against the bank estate for a refund of the unearned amount paid.
(b)  If the property is not removed by the date the contract ceases, the receiver shall inventory the property.  In making the inventory the receiver may open a safe, vault, or box, or any package, parcel, or receptacle, in the custody or possession of the receiver.  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 receiver's custody and control has been inventoried, the receiver shall compile a master list that is divided for each office of the bank that received property that remains unclaimed.  The receiver shall publish, in a newspaper of general circulation in each community in which the bank had an office that received property that remains unclaimed, the list and the names of the owners of the property as shown in the bank's records.  The published notice must specify a procedure for claiming the property unless the court, on application of the receiver, approves an alternate procedure.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter C. Involuntary Dissolution and Liquidation › Section 36.223. Fiduciary Activities

Sec. 36.223.  FIDUCIARY ACTIVITIES.  (a)  As soon after beginning the receivership proceeding as is practicable, the receiver shall:
(1)  terminate all fiduciary positions the bank holds;
(2)  surrender all property held by the bank as a fiduciary;  and
(3)  settle the bank's fiduciary accounts.
(b)  The receiver shall release all segregated and identifiable fiduciary property held by the bank to successor fiduciaries.
(c)  With the approval of the court, the receiver may sell the administration of all or substantially all remaining fiduciary accounts to one or more successor fiduciaries on terms that appear to be in the best interests of the bank's estate and the persons interested in the fiduciary accounts.
(d)  If commingled fiduciary money held by the bank as trustee is insufficient to satisfy all fiduciary claims to the commingled money, the receiver shall distribute commingled money pro rata to all fiduciary claimants of commingled money based on their proportionate interests after payment of administrative expenses related solely to the fiduciary claims.  The fictional tracing rule does not apply.  To the extent of any unsatisfied fiduciary claim to commingled money, a claimant to commingled trust money is entitled to the same priority as a depositor of the bank.
(e)  Subject to Subsection (d), if the bank has lost fiduciary money or property through misappropriation or otherwise, a claimant to the missing fiduciary money or property is entitled to the same priority as a depositor of the bank.
(f)  The receiver may require a fiduciary claimant to file a proof of claim if the records of the bank are insufficient to identify the claimant's interest.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter C. Involuntary Dissolution and Liquidation › Section 36.224. Disposition and Maintenance of Records

Sec. 36.224.  DISPOSITION AND MAINTENANCE OF RECORDS.  (a)  On approval by the court, the receiver may dispose of records of the bank in liquidation that are obsolete and unnecessary to the continued administration of the receivership proceeding.
(b)  The receiver may devise a method for the effective, efficient, and economical maintenance of the records of the bank and of the receiver's office.  The method may include maintaining those records on any medium approved by the records management division of the Texas State Library.
(c)  To maintain the records of the liquidated bank after the closing of the receivership proceeding, the receiver may reserve assets of an estate, deposit them in an account, and use them for maintenance, storage, and disposal of records in closed receivership estates.
(d)  Records of a liquidated bank are not government records for any purpose, including Chapter 552, Government Code, but shall be preserved and disposed of as if they were records of the department under Chapter 441, Government Code.  Those records are confidential as provided by:
(1)  Subchapter D, Chapter 31;
(2)  Section 59.006;  and
(3)  rules adopted under this subtitle.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 6.103(d), eff. Sept. 1, 2001.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter C. Involuntary Dissolution and Liquidation › Section 36.225. Records Admitted

Sec. 36.225.  RECORDS ADMITTED.  (a)  A record of a bank in liquidation obtained by the receiver and held in the course of the receivership proceeding or a certified copy of the record under the official seal of the receiver is admissible in evidence in all cases without proof of correctness or other proof, except the certificate of the receiver that the record was received from the custody of the bank or found among its effects.
(b)  The receiver may certify the correctness of a record of the receiver's office, including a record described by Subsection (a), and may certify any fact contained in the record.  The record shall be received in evidence in all cases in which the original would be evidence.
(c)  The original record or a certified copy of the record is prima facie evidence of the facts it contains.
(d)  A copy of an original record or another record that is maintained on a medium approved by the records management division of the Texas State Library, within the scope of this section, and produced by the receiver or the receiver's authorized representative under this section:
(1)  has the same effect as the original record;  and
(2)  may be used the same as the original record in a judicial or administrative proceeding in this state.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter C. Involuntary Dissolution and Liquidation › Section 36.226. Resumption of Business

Sec. 36.226.  RESUMPTION OF BUSINESS.  (a)  A state bank closed under Section 36.201 may not be reopened without the approval of the banking commissioner unless a contest of liquidation under Section 36.204 is finally resolved adversely to the banking commissioner and the court authorizes the bank's reopening.
(b)  The banking commissioner may place temporary limits on the right of withdrawals by or payments to individual depositors and creditors of a bank reopened under this section.  The limits:
(1)  must apply equally to all unsecured depositors and creditors;
(2)  may not defer a withdrawal by or payment to a secured depositor or creditor without the person's written consent;  and
(3)  may not postpone the right of full withdrawal or payment of unsecured depositors or creditors for more than 18 months after the date that the bank reopens.
(c)  As a depositor or creditor of a reopened bank, this state or a political subdivision of this state may agree to temporary limits that the banking commissioner places on payments or withdrawals.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter C. Involuntary Dissolution and Liquidation › Section 36.227. Assets Discovered After Close of Receivership

Sec. 36.227.  ASSETS DISCOVERED AFTER CLOSE OF RECEIVERSHIP.  (a)  The banking commissioner shall report to the court discovery of an asset having value that:
(1)  the banking commissioner discovers after the receivership was closed by final order of the court;  and
(2)  was abandoned as worthless or unknown during the receivership.
(b)  The court may reopen the receivership proceeding for continued liquidation if the value of the asset justifies the reopening.
(c)  If the banking commissioner suspects that the information may have been intentionally or fraudulently concealed, the banking commissioner shall notify appropriate civil and criminal authorities to determine any applicable penalties.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.301. Filing Claim

Sec. 36.301.  FILING CLAIM.  (a)  This section applies only to a claim by a person, other than a shareholder acting in that capacity, who has a claim against a state bank in liquidation, including a claimant with a secured claim and a claimant under a fiduciary relationship who has been ordered by the receiver to file a proof of claim under Section 36.223.
(b)  To receive payment of a claim, the person must present proof of the claim to the receiver:
(1)  at a place specified by the receiver;  and
(2)  within the period specified by the receiver under Section 36.205.
(c)  A claim that is not filed within the period specified by the receiver may not participate in a distribution of the assets by the receiver, except that, subject to court approval, the receiver may accept a claim filed not later than the 180th day after the date notice of the claimant's right to file a proof of claim is mailed to the claimant.
(d)  A claim accepted and approved under Subsection (c) is subordinate to an approved claim of a general creditor.
(e)  Interest does not accrue on a claim after the date the bank is closed for liquidation.
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. 59, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.302. Proof of Claim

Sec. 36.302.  PROOF OF CLAIM.  (a)  A proof of claim must be in writing, be signed by the claimant, and include:
(1)  a statement of the claim;
(2)  a description of the consideration for the claim;
(3)  a statement of whether collateral is held or a security interest is asserted against the claim and, if so, a description of the collateral or security interest;
(4)  a statement of any right of priority of payment for the claim or other specific right asserted by the claimant;
(5)  a statement of whether a payment has been made on the claim and, if so, the amount and source of the payment, to the extent known by the claimant;
(6)  a statement that the amount claimed is justly owed by the bank in liquidation to the claimant;  and
(7)  any other matter that is required by the court.
(b)  The receiver may designate the form of the proof of claim.  A proof of claim must be filed under oath unless the oath is waived by the receiver.  A proof of claim filed with the receiver is considered filed in an official proceeding for purposes of Chapter 37, Penal Code.
(c)  If a claim is founded on a written instrument, the original instrument, unless lost or destroyed, must be filed with the proof of claim.  After the instrument is filed, the receiver may permit the claimant to substitute a copy of the instrument until the final disposition of the claim.  If the instrument is lost or destroyed, a statement of that fact and of the circumstances of the loss or destruction must be filed under oath with the claim.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.303. Judgment as Proof of Claim

Sec. 36.303.  JUDGMENT AS PROOF OF CLAIM.  (a)  A judgment entered against a state bank in liquidation before the date the bank was closed for liquidation may not be given higher priority than a claim of an unsecured creditor unless the judgment creditor in a proof of claim proves the allegations supporting the judgment to the receiver's satisfaction.
(b)  A judgment against the bank taken by default or by collusion before the date the bank was closed for liquidation may not be considered as conclusive evidence of the liability of the bank to the judgment creditor or of the amount of damages to which the judgment creditor is entitled.
(c)  A judgment against the bank entered after the date the bank was closed for liquidation may not be considered as evidence of liability or of the amount of damages.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.304. Secured Claim

Sec. 36.304.  SECURED CLAIM.  (a)  The owner of a secured claim against a bank in liquidation may:
(1)  surrender the security and file a claim as a general creditor;  or
(2)  apply the security to the claim and discharge the claim.
(b)  If the owner applies the security and discharges the claim, any deficiency shall be treated as a claim against the general assets of the bank on the same basis as a claim of an unsecured creditor.  The amount of the deficiency shall be determined as provided by Section 36.305, except that if the amount of the deficiency has been adjudicated by a court in a proceeding in which the receiver has had notice and an opportunity to be heard, the court's decision is conclusive as to the amount.
(c)  The value of security held by a secured creditor shall be determined under supervision of the court by:
(1)  converting the security into money according to the terms of the agreement under which the security was delivered to the creditor;  or
(2)  agreement, arbitration, compromise, or litigation between the creditor and the receiver.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.305. Unliquidated or Undetermined Claim

Sec. 36.305.  UNLIQUIDATED OR UNDETERMINED CLAIM.  (a)  A claim based on an unliquidated or undetermined demand shall be filed within the period provided by Subchapter C  for the filing of a claim.  The claim may not share in any distribution to claimants until the claim is definitely liquidated, determined, and allowed.  After the claim is liquidated, determined, and allowed, the claim shares ratably with the claims of the same class in all subsequent distributions.
(b)  For purposes of this section, a demand is considered unliquidated or undetermined if the right of action on the demand accrued while the bank was closed for liquidation and the liability on the demand has not been determined or the amount of the demand has not been liquidated.
(c)  If the receiver in all other respects is in a position to close the receivership proceeding, the proposed closing is sufficient grounds for the rejection of any remaining claim based on an unliquidated or undetermined demand.  The receiver shall notify the claimant of the intention to close the proceeding.  If the demand is not liquidated or determined before the 61st day after the date of the notice, the receiver may reject the claim.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.306. Set-Off

Sec. 36.306.  SET-OFF.  (a)  Mutual credits and mutual debts shall be set off and only the balance allowed or paid, except that a set-off may not be allowed in favor of a person if:
(1)  the obligation of the bank to the person on the date the bank was closed for liquidation did not entitle the person to share as a claimant in the assets of the bank;
(2)  the obligation of the bank to the person was purchased by or transferred to the person after the date the bank was closed for liquidation or for the purpose of increasing set-off rights;  or
(3)  the obligation of the person or the bank is as a trustee or fiduciary.
(b)  On request, the receiver shall provide a person with an accounting statement identifying each debt that is due and payable.  A person who owes the bank an amount that is due and payable against which the person asserts a set-off of mutual credits that may become due and payable from the bank in the future shall promptly pay to the receiver the amount due and payable.  The receiver shall promptly refund, to the extent of the person's prior payment, mutual credits that become due and payable to the person by the bank in liquidation.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.307. Action on Claim

Sec. 36.307.  ACTION ON CLAIM.  (a)  Not later than six months after the last day permitted for the filing of claims or a later date allowed by the court, the receiver shall accept or reject in whole or in part each filed claim against the bank in liquidation, except for an unliquidated or undetermined claim governed by Section 36.305.  The receiver shall reject a claim if the receiver doubts its validity.
(b)  The receiver shall mail written notice to each claimant specifying the disposition of the person's claim.  If a claim is rejected in whole or in part, the receiver in the notice shall specify the basis for rejection and advise the claimant of the procedures and deadline for appeal.
(c)  The receiver shall send each claimant a summary schedule of approved and rejected claims by priority class and notify the claimant:
(1)  that a copy of a schedule of claims disposition including only the name of the claimant, the amount of the claim allowed, and the amount of the claim rejected is available on request;  and
(2)  of the procedure and deadline for filing an objection to an approved claim.
(d)  The receiver or an agent or employee of the receiver, including an employee of the department, is not liable, and a cause of action may not be brought against the person, for an action taken or not taken by the person relating to the adjustment, negotiation, or settlement of a claim.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.308. Objection to Approved Claim

Sec. 36.308.  OBJECTION TO APPROVED CLAIM.  The receiver with court approval shall set a date for objection to an approved claim.  On or before that date a depositor, creditor, other claimant, or shareholder of the bank may file an objection to an approved claim.  The objection shall be heard and determined by the court.  If the objection is sustained, the court shall direct an appropriate modification of the schedule of claims.
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. 60, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.309. Appeal of Rejected Claim

Sec. 36.309.  APPEAL OF REJECTED CLAIM.  (a)  The receiver's rejection of a claim may be appealed in the court in which the receivership proceeding is pending.  The appeal must be brought within three months after the date of service of notice of the rejection.
(b)  If the action is timely brought, review is de novo as if originally filed in the court and subject to the rules of procedure and appeal applicable to civil cases.  This action is separate from the receivership proceeding and is not initiated by a claimant's attempt to appeal the action of the receiver by intervening in the receivership proceeding.
(c)  If the action is not timely brought, the action of the receiver is final and not subject to review.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.310. Payment of Claim

Sec. 36.310.  PAYMENT OF CLAIM.  (a)  Except as expressly provided otherwise by this subchapter or Subchapter C, without the approval of the court the receiver may not make a payment on a claim, other than a claim for an obligation incurred by the receiver for administrative expenses.
(b)  The receiver may periodically make partial distribution to the holders of approved claims if:
(1)  all objections have been heard and decided as provided by Section 36.308;
(2)  the time for filing appeals has expired as provided by Section 36.309;  and
(3)  a proper reserve is established for the pro rata payment of:
(A)  rejected claims that have been appealed;  and
(B)  any claims based on unliquidated or undetermined demands governed by Section 36.305.
(c)  As soon as practicable after the determination of all objections, appeals, and claims based on previously unliquidated or undetermined demands governed by Section 36.305, the receiver shall distribute the assets of the bank in satisfaction of approved claims other than claims asserted in a person's capacity as a shareholder.
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. 61, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.311. Priority of Claims Against Insured Bank

Sec. 36.311.  PRIORITY OF CLAIMS AGAINST INSURED BANK.  The distribution of assets from the estate of a bank the deposits of which are insured by the Federal Deposit Insurance Corporation or its successor shall be made in the same order of priority as assets would be distributed on liquidation or purchase of assets and assumption of liabilities of a national bank under federal law.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.312. Priority of Claims Against Uninsured Bank

Sec. 36.312.  PRIORITY OF CLAIMS AGAINST UNINSURED BANK.  (a)  The priority of distribution of assets from the estate of a bank the deposits of which are not insured by the Federal Deposit Insurance Corporation or its successor shall be in accordance with the order of each class as provided by this section.  Every claim in each class shall be paid in full, or adequate money shall be retained for that payment, before a member of the next class receives any payment.  A subclass may not be established within a class, except for a preference or subordination within a class expressly created by contract or other instrument or in the certificate of formation.
(b)  Assets shall be distributed in the following order of priority:
(1)  administrative expenses;
(2)  approved claims of secured creditors to the extent of the value of the security as provided by Section 36.304;
(3)  approved claims of beneficiaries of insufficient commingled fiduciary money or missing fiduciary property and approved claims of depositors of the bank;
(4)  other approved claims of general creditors not falling within a higher priority under this section, including unsecured claims for taxes and debts due the federal government or a state or local government;
(5)  approved claims of a type described by Subdivisions (1)-(4) that were not filed within the period prescribed by this subchapter; and
(6)  claims of capital note or debenture holders or holders of similar obligations and proprietary claims of shareholders or other owners according to the terms established by issue, class, or series.
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. 62, eff. September 1, 2007.
Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 14, eff. June 14, 2013.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.313. Excess Assets

Sec. 36.313.  EXCESS ASSETS.  (a)  If bank assets remain after the receiver has provided for unclaimed distributions and all of the liabilities of the bank in liquidation, the receiver shall distribute the remaining assets to the shareholders of the bank.
(b)  If the remaining assets are not liquid or if they otherwise require continuing administration, the receiver may call a meeting of the shareholders of the bank.  The receiver shall give notice of the meeting:
(1)  in a newspaper of general circulation in the county where the home office of the bank was located; and
(2)  by written notice to the shareholders of record at their last known addresses.
(c)  At the meeting, the shareholders shall appoint one or more agents to take over the affairs to continue the liquidation for the benefit of the shareholders.  Voting privileges are governed by the bank's bylaws and certificate of formation.  If a quorum cannot be obtained at the meeting, the banking commissioner shall appoint an agent.  An agent appointed under this subsection shall execute and file with the court a bond approved by the court, conditioned on the faithful performance of all the duties of the trust.
(d)  Under order of the court the receiver shall transfer and deliver to the agent or agents for continued liquidation under the court's supervision all assets of the bank remaining in the receiver's hands.  The court shall discharge the receiver from further liability to the bank and its depositors, creditors, and shareholders.
(e)  The bank may not resume business and the charter of the bank is void on the date the court issues the order directing the receiver to transfer and deliver the remaining assets of the bank to the agent or agents.
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. 63, eff. September 1, 2007.
Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 15, eff. June 14, 2013.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 36 - Dissolution and Receivership › Subchapter D. Claims Against Receivership Estate › Section 36.314. Unclaimed Property

Sec. 36.314.  UNCLAIMED PROPERTY.  After completion of the liquidation, any unclaimed property remaining in the hands of the receiver shall be tendered to the comptroller as provided by Chapter 74, Property Code.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 37 - Emergencies › Section 37.001. Definition

Sec. 37.001.  DEFINITION.  In this chapter, "emergency" means a condition or occurrence that may interfere physically with the conduct of normal business at the offices of a bank or with the conduct of a particular bank operation, or that poses an imminent or existing threat to the safety or security of persons or property, including:
(1)  fire, flood, earthquake, hurricane, tornado, or wind, rain, or snow storm;
(2)  labor dispute or strike;
(3)  power failure, transportation failure, or interruption of communication facilities;
(4)  shortage of fuel, housing, food, transportation, or labor;
(5)  robbery, burglary, or attempted robbery or burglary;
(6)  epidemic or other catastrophe;  or
(7)  riot, civil commotion, enemy attack, or other actual or threatened act of lawlessness or violence.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 37 - Emergencies › Section 37.002. Emergency Closing of Office or Operation by Bank

Sec. 37.002.  EMERGENCY CLOSING OF OFFICE OR OPERATION BY BANK.  (a)  If the officers of a bank located in this state determine that an emergency that affects or may affect the bank's offices or a particular bank operation exists or is impending, the officers may determine:
(1)  not to open the bank's offices or conduct the particular bank operation;  or
(2)  if the bank's offices have opened or the particular bank operation has begun, to close the bank's offices or suspend and close the particular bank operation during the emergency, regardless of whether the banking commissioner has issued a proclamation of emergency.
(b)  Subject to Subsection (c), the office or operation closed may remain closed until the officers determine that the emergency has ended and for additional time reasonably required to reopen.
(c)  An office or operation may not remain closed for more than three consecutive days, excluding days on which the bank is customarily closed, without the banking commissioner's approval.
(d)  A bank closing an office or operation under this section shall give notice of its action to the banking commissioner as promptly as possible and by any means available.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 37 - Emergencies › Section 37.003. Emergency Closing of Office or Operation by Banking Commissioner

Sec. 37.003.  EMERGENCY CLOSING OF OFFICE OR OPERATION BY BANKING COMMISSIONER.  (a)  If the banking commissioner determines that an emergency exists or is impending in all or part of this state, the banking commissioner by proclamation may authorize banks located in the affected area to close all or part of their offices or operations.
(b)  If the banking commissioner determines that an emergency exists or is impending that affects or may affect one or more particular banks or a particular bank operation, but not banks located in the area generally, the banking commissioner may authorize the bank or banks affected to close their offices or a particular bank operation.
(c)  A bank office or bank operation closed under this section may remain closed until the banking commissioner proclaims that the emergency has ended, or until an earlier time that the officers of the bank determine that the closed bank office or bank operation should reopen, except that the affected bank office or operation may remain closed for additional time reasonably required to reopen.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 37 - Emergencies › Section 37.004. Effect of Closing

Sec. 37.004.  EFFECT OF CLOSING.  (a)  A day on which a bank or one or more of its operations is closed during its normal banking hours as provided by this chapter is a legal holiday for all purposes with respect to any banking business affected by the closed bank or bank operation.
(b)  A bank or a director, officer, or employee of a bank does not incur liability or loss of rights because of a closing authorized by this chapter.
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. 64, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 37 - Emergencies › Section 37.005. Limitations on Withdrawals From State Bank

Sec. 37.005.  LIMITATIONS ON WITHDRAWALS FROM STATE BANK.  (a)  At the request of a state bank that is experiencing or threatened with unusual and excessive withdrawals because of financial conditions, panic, or crisis, the banking commissioner, to prevent unnecessary loss to or preference among the depositors and creditors of the bank and to preserve the financial structure of the bank and its usefulness to the community, may issue an order limiting the right of withdrawal by or payment to depositors, creditors, and other persons to whom the bank is liable.
(b)  The order:
(1)  must expire not later than the 10th day after the date it is issued;
(2)  must be uniform in application to each class of liability;  and
(3)  is not subject to judicial review.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 37 - Emergencies › Section 37.006. Financial Moratorium

Sec. 37.006.  FINANCIAL MORATORIUM.  (a)  The banking commissioner, with the approval of a majority of the finance commission and the governor, may proclaim a financial moratorium for, and invoke a uniform limitation on, withdrawal of deposits of every character from all banks within this state.  A bank refusing to comply with a written proclamation of the banking commissioner under this section, signed by a majority of the members of the finance commission and the governor:
(1)  forfeits its charter if it is a state bank;  or
(2)  may not act as reserve agent for a state bank or as depository of state, county, municipal, or other public money if it is a national bank.
(b)  On order of the banking commissioner after refusal of a national bank to comply with the proclamation, a depositor of public money with the bank:
(1)  shall immediately withdraw the public money from the bank;  and
(2)  may not redeposit public money in the bank without the banking commissioner's prior written approval.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 37 - Emergencies › Section 37.007. Temporary Branch or Office

Sec. 37.007.  TEMPORARY BRANCH OR OFFICE.  (a)  If the banking commissioner determines that an emergency has affected and will continue to affect one or more particular bank offices for an extended period, either as a result of the emergency or subsequent recovery operations, the banking commissioner may authorize the bank or banks affected to open temporary branch offices or other facilities required for bank operations for the purpose of prompt restoration of access by the public to banking services.
(b)  A temporary bank office opened under the authority of Subsection (a) may remain open only for the period specified in the banking commissioner's order, except that the banking commissioner may extend the period the office may remain open on a finding that the conditions requiring the temporary office continue to exist. The bank may convert a temporary branch office to a permanent bank location only by obtaining the prior written approval of the banking commissioner under Section 32.203.
(c)  If requested by the state bank regulatory agency of another state that is experiencing an emergency and is contiguous to this state, the banking commissioner may authorize a bank or banks located in the state to open temporary offices in this state for the purpose of prompt restoration of banking services to the existing customers of the bank or banks, as the circumstances of such emergency may require.  A temporary bank office opened under the authority of this subsection may remain open only for the period specified in the banking commissioner's order, except that the banking commissioner may extend the period the office may remain open on a finding that the conditions requiring the temporary office continue to exist.  A bank may convert a temporary branch office to a permanent bank location if permitted by and subject to the conditions and requirements of Chapter 203.
Added by Acts 2007, 80th Leg., R.S., Ch. 110 (H.B. 2007), Sec. 12, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 37 - Emergencies › Section 37.008. Regulatory Coordination

Sec. 37.008.  REGULATORY COORDINATION.  (a)  To ensure effective coordination among and between the department and other state and federal agencies and the banking industry, and to further rapid restoration of banking services after an emergency, the banking commissioner may:
(1)  enter into cooperative, coordinating, or information-sharing agreements with other state or federal agencies or with or through organizations affiliated with or representing one or more state or federal agencies;
(2)  enter into cooperative, coordinating, or information-sharing agreements with banks or banking trade associations or other organizations affiliated with or representing one or more banks;  and
(3)  issue interpretive statements or opinions to temporarily waive or suspend regulatory requirements that threaten to impede recovery and restoration of financial services.
(b)  Disclosure of information by or to the banking commissioner under this section does not constitute a waiver of or otherwise affect or diminish an evidentiary privilege to which the information is otherwise subject, regardless of whether the disclosure is governed by a confidentiality agreement.  Notwithstanding other law, a party to an agreement described by Subsection (a) may execute, honor, and comply with an agreement to maintain confidentiality and oppose disclosure of information obtained from the banking commissioner, and shall treat as confidential any information obtained from the banking commissioner that is entitled to confidential treatment under applicable state or federal law.
(c)  The banking commissioner shall coordinate and cooperate with and assist the office of the governor in the performance of duties under this chapter and other state or federal law as required by Section 421.071, Government Code.
Added by Acts 2007, 80th Leg., R.S., Ch. 110 (H.B. 2007), Sec. 12, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 59 - Miscellaneous Provisions › Subchapter A. General Provisions › Section 59.002. Slander or Libel of Bank

Sec. 59.002.  SLANDER OR LIBEL OF BANK.  (a)  A person commits an offense if the person:
(1)  knowingly makes, circulates, or transmits to another person an untrue statement that is derogatory to the financial condition of a bank located in this state;  or
(2)  with intent to injure a bank located in this state, counsels, aids, procures, or induces another person to knowingly make, circulate, or transmit to another person an untrue statement that is derogatory to the financial condition of any bank located in this state.
(b)  An offense under this section is a state jail felony.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.016, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 59 - Miscellaneous Provisions › Subchapter A. General Provisions › Section 59.003. Authority of Notary Public

Sec. 59.003.  AUTHORITY OF NOTARY PUBLIC.  A notary public is not disqualified from taking an acknowledgment or proof of a written instrument as provided by Section 406.016, Government Code, solely because of the person's ownership of stock or a participation interest in or employment by a financial institution that is an interested party to the underlying transaction.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.016, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 59 - Miscellaneous Provisions › Subchapter A. General Provisions › Section 59.004. Succession of Trust Powers

Sec. 59.004.  SUCCESSION OF TRUST POWERS.  (a)  If, at the time of a merger, reorganization, conversion, sale of substantially all of its assets under Chapter 32 or other applicable law, or sale of substantially all of its trust accounts and related activities at a separate branch or other office, a reorganizing or selling financial institution is acting as trustee, guardian, executor, or administrator, or in another fiduciary capacity, a successor or purchasing financial institution with sufficient fiduciary authority may continue the office, trust, or fiduciary relationship:
(1)  without the necessity of judicial action or action by the creator of the office, trust, or fiduciary relationship;  and
(2)  without regard to whether the successor or purchasing financial institution meets qualification requirements specified in an instrument creating the office, trust, or fiduciary relationship other than a requirement related to geographic locale of account administration, including requirements as to jurisdiction of incorporation, location of principal office, or type of financial institution.
(b)  The successor or purchasing financial institution may perform all the duties and exercise all the powers connected with or incidental to the fiduciary relationship in the same manner as if the successor or purchasing financial institution had been originally designated as the fiduciary.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.016, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 59 - Miscellaneous Provisions › Subchapter A. General Provisions › Section 59.005. Agency Activities

Sec. 59.005.  AGENCY ACTIVITIES.  (a)  A financial institution may receive deposits, renew time deposits, close loans, service loans, receive payments on loans and other obligations, and perform other services as an agent for another financial institution under a written agency agreement.
(b)  A financial institution may not under an agency agreement:
(1)  conduct an activity as agent that it would be prohibited from conducting as a principal under applicable state or federal law;  or
(2)  have an agent conduct an activity that the bank as principal would be prohibited from conducting under applicable state or federal law.
(c)  The banking commissioner may order a state bank or another financial institution subject to the banking commissioner's enforcement powers to cease acting as an agent or principal under an agency agreement in a manner that the banking commissioner finds to be inconsistent with safe and sound banking practices or governing law.
(d)  Notwithstanding another law, a financial institution acting as an agent for another financial institution in accordance with this section is not considered to be a branch of the institution acting as principal.
(e)  This section does not affect:
(1)  authority under another law for a financial institution to act as an agent on behalf of another person or to act as a principal in employing another person as agent;  or
(2)  whether an agent's activities on behalf of a financial institution under another law would cause the agent to be considered a branch of the financial institution.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.016, eff. Sept. 1, 1999;  Acts 2001, 77th Leg., ch. 528, Sec. 14, eff. Sept. 1, 2001.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 59 - Miscellaneous Provisions › Subchapter A. General Provisions › Section 59.007. Attachment, Injunction, Execution, or Garnishment

Sec. 59.007.  ATTACHMENT, INJUNCTION, EXECUTION, OR GARNISHMENT.  (a)  An attachment, injunction, execution, or writ of garnishment may not be issued against or served on a financial institution that has its principal office or a branch in this state to collect a money judgment or secure a prospective money judgment against the financial institution before the judgment is final and all appeals have been foreclosed by law.
(b)  An attachment, injunction, execution, or writ of garnishment issued to or served on a financial institution for the purpose of collecting a money judgment or securing a prospective money judgment against a customer of the financial institution is governed by Section 59.008 and not this section.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.016, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 3 - Financial Institutions and Businesses › Subtitle A - Banks › Chapter 59 - Miscellaneous Provisions › Subchapter A. General Provisions › Section 59.008. Claims Against Customers of Financial Institutions

Sec. 59.008.  CLAIMS AGAINST CUSTOMERS OF FINANCIAL INSTITUTIONS.  (a)  A claim against a customer of a financial institution shall be delivered or served as otherwise required or permitted by law at the address designated as the address of the registered agent of the financial institution in a registration filed with the secretary of state pursuant to Section 201.102, with respect to an out-of-state financial institution, or Section 201.103, with respect to a Texas financial institution.
(b)  If a financial institution files a registration statement with the secretary of state pursuant to Section 201.102, with respect to an out-of-state financial institution, or Section 201.103, with respect to a Texas financial institution, a claim against a customer of the financial institution is not effective as to the financial institution if the claim is served or delivered to an address other than that designated by the financial institution in the registration as the address of the financial institution's registered agent.
(c)  The customer bears the burden of preventing or limiting a financial institution's compliance with or response to a claim subject to this section by seeking an appropriate remedy, including a restraining order, injunction, protective order, or other remedy, to prevent or suspend the financial institution's response to a claim against the customer.
(d)  A financial institution that does not file a registration with the secretary of state pursuant to Section 201.102, with respect to an out-of-state financial institution, or Section 201.103, with respect to a Texas financial institution, is subject to service or delivery of all claims against customers of the financial institution as otherwise provided by law.
Added by Acts 1999, 76th Leg., ch. 344, Sec. 2.016, eff. Sept. 1, 1999.