Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 2 - TEXAS DEPARTMENT OF BANKING › Chapter 21 - TRUST COMPANY CORPORATE ACTIVITIES › Subchapter D - TRUST COMPANY OFFICES › Section 21.41 - Written Notice and Application for Change of Home Office

Current through Reg. 49, No. 28; July 12, 2024
(a) Relocation by notice. If the location
				  that is the home office of a trust company prior to a proposed relocation of
				  the home office is to remain an additional office of the trust company after
				  the relocation, the trust company may relocate its home office by filing a
				  written notice pursuant to Finance Code, §
										RSA
				  182.202(c). The filed notice
				  must contain all information required by subsection (c) of this section,
				  accompanied by the required filing fee pursuant to §
										RSA
				  21.2 of this title (relating to Filing and
				  Investigation Fees), and notice of the submission must be published as required
				  by subsection (e) of this section. A trust company filing notice of a home
				  office relocation under this subsection may relocate its home office on the
				  31st day after the required notice and fee have been received by the banking
				  commissioner, unless the banking commissioner gives notice in writing, prior to
				  the expiration of that time period, that an earlier or later date is authorized
				  or that additional information and additional time for analysis is required.
				  Upon issuance of a notice requiring additional information and additional time
				  for analysis, the trust company may relocate its home office only on written
				  approval of the banking commissioner. Except as otherwise provided in this
				  section, the banking commissioner shall evaluate the notice under the criteria
				  of §
										RSA
				  21.42(e) of this title
				  (relating to Establishment, Relocation and Closing of an Additional
				  Office).
(b) Relocation by
				  application. If Finance Code, §
										RSA
				  182.202(c), and subsection
				  (a) of this section do not apply, a trust company desiring to change its home
				  office location must file an application with the banking commissioner pursuant
				  to Finance Code, §
										RSA
				  182.202(d), setting forth
				  all information required by subsection (d) of this section, accompanied by the
				  required filing fee pursuant to §
										RSA
				  21.2 of this title, and notice of the
				  submission must be published as required by subsection (e) of this section. The
				  banking commissioner shall issue a written notice no later than 15 days after
				  the date the initial filing is received, as required by §
										RSA
				  21.4 of this title (relating to Required
				  Information and Abandoned Filings), informing the applicant either that all
				  filing fees have been paid and the application is complete and accepted for
				  filing, or that the application is deficient and specific additional
				  information is required. Except as otherwise provided in this section, the
				  banking commissioner shall evaluate the application under the criteria of
				  §
										RSA
				  21.42(e) of this title. An
				  applicant under this subsection may not relocate its home office without the
				  prior written approval of the banking commissioner.
(c) Contents of notice. The notice filed
				  under subsection (a) of this section must disclose:
(1) the name of the trust company requesting
				  the home office relocation;
(2) the
				  street address of the trust company's home office before the requested home
				  office relocation;
(3) the street
				  address of the trust company's proposed home office;
(4) the desired effective date of the home
				  office relocation under subsection (a) of this section;
(5) a copy of the resolution adopted by the
				  trust company's board of directors authorizing the proposed home office
				  relocation;
(6) the cost to be
				  incurred in connection with the relocation and a statement of the impact of
				  such cost on the trust company's ability to meet liquidity
				  requirements;
(7) evidence that the
				  trust company has considered applicable federal law, if any;
(8) a description of any actual, proposed, or
				  contemplated financial involvement by an officer, director, manager, managing
				  participant, or principal shareholder or participant of the trust company with
				  respect to its home office relocation; and
(9) such other information as the banking
				  commissioner may require.