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Texas Finance Code - FIN § 187.306. Notice of Subsequent Event

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

Each out-of-state trust company that has established and maintains an office in this state pursuant to this subtitle shall give written notice, at least 30 days before the effective date of the event, or, in the case of an emergency transaction, a shorter period before the effective date consistent with applicable state or federal law, to the banking commissioner of:

(1) a merger or other transaction that would cause a change of control with respect to the trust company, with the result that an application would be required to be filed with the home state regulator or a federal supervisory agency;

(2) a transfer of all or substantially all of the trust accounts or trust assets of the out-of-state trust company to another person;  or

(3) the closing or disposition of an office in this state.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 187.306. Notice of Subsequent Event - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-187-306/

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