Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 2 - TEXAS DEPARTMENT OF BANKING › Chapter 21 - TRUST COMPANY CORPORATE ACTIVITIES › Subchapter A - FEES AND OTHER PROVISIONS OF GENERAL APPLICABILITY › Section 21.5 - Public Notice

Current through Reg. 49, No. 28; July 12, 2024
(a) General. A
				  person or entity required or authorized to file public notice in connection
				  with a trust company notice or application, including a person or entity
				  requesting authorization for a merger, purchase of assets, or another
				  application requiring public notice, shall publish notice in a newspaper of
				  general circulation in its specified community and in such other locations as
				  may be required by the banking commissioner.
(b) Contents. The public notice must state
				  that a filing is being made; the date (or expected date) of the filing;
				  sufficient information describing the proposed transaction, and other related
				  information required by the Trust Company Act, this chapter or rules and
				  regulations adopted pursuant to the Trust Company Act, and any other
				  information as may be required by the banking commissioner. In addition, the
				  notice must include substantially the following text as a separately stated
				  paragraph: "Any person wishing to comment on this application, either for or
				  against, may file written comments with the Texas Department of Banking, 2601
				  North Lamar Boulevard, Austin, Texas 78705-4294 on or before the 14th day after
				  the date of this publication. Such comments will be made a part of the record
				  before and considered by the banking commissioner. Any person wishing to
				  formally protest and oppose (describe type of application in general terms) and
				  participate in the application process may do so by filing a written notice of
				  protest with the Texas Department of Banking on or before the 14th calendar day
				  after the date of this publication accompanied by a protest filing fee of
				  $2,500. The protest fee may be reduced or waived by the banking commissioner
				  upon a showing of substantial hardship."
(c) Publisher's affidavit. A person or entity
				  required to file public notice under this section shall file with the banking
				  commissioner a copy of the notice and a publisher's affidavit attesting to the
				  date of publication.
(d) One
				  publication sufficient. Unless otherwise required by the Trust Company Act or
				  rules and regulations adopted pursuant to the Trust Company Act, one public
				  notice publication per submitted or accepted filing in each community specified
				  by the banking commissioner is sufficient if in substantial compliance with
				  this section and chapter and with the Trust Company Act, as determined by the
				  banking commissioner. The banking commissioner reserves the right to require
				  additional publication based on a determination that a particular publication
				  is insufficient or is otherwise not in compliance.
(e) Other acceptable public notice. The
				  banking commissioner may determine that public notice required by another
				  regulatory agency of a trust company satisfies the public notice requirements
				  of this section. For example, if a trust company converts, merges, or organizes
				  into a financial institution that is no longer regulated by the banking
				  commissioner and the banking commissioner determines that public notice
				  requirements imposed by the successor regulatory authority satisfy the notice
				  requirements of the Trust Company Act and this section, the banking
				  commissioner may permit the notice required by the successor regulatory
				  authority to serve as notice under this section.