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Texas Finance Code - FIN § 186.102. Filing Resolutions With Banking Commissioner

Current as of January 01, 2024 | Updated by Findlaw Staff

After resolutions to dissolve and liquidate a state trust company have been adopted by the board and shareholders or participants, a majority of the directors, managers, or managing participants shall verify and file with the banking commissioner certified copies of:

(1) the resolutions of the shareholders or participants that:

(A) are adopted at a meeting for which proper notice was given or by unanimous written consent; and

(B) approve the dissolution and liquidation of the state trust company;

(2) the resolutions of the board approving the dissolution and liquidation of the state trust company if the trust company is operated by a board of directors or managers;

(3) the notice to the shareholders or participants informing them of the meeting described by Subdivision (1)(A); and

(4) a plan of liquidation.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 186.102. Filing Resolutions With Banking Commissioner - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-186-102/

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