Tex. Fin. Code Section 182.015
Change of Control of Exempt State Trust Company

If control of an exempt state trust company is sold or otherwise transferred, the acquiring person must comply with Sections 182.003 (Application for State Trust Company Charter; Standards for Approval), 182.004 (Notice and Investigation of Charter Application), 182.005 (Protest; Hearing; Decision on Charter Application), 183.001 (Acquisition of Control), and 183.002 (Application Regarding Acquisition of Control). For the exempt status of the state trust company to continue, the acquiring person must file a certification with the banking commissioner that the state trust company will comply, or continue to comply, with the requirements of Section 182.011 (Exemption from Statutory Provisions for Certain State Trust Companies) after control is transferred. The banking commissioner may examine or investigate the acquiring person and the state trust company as necessary to verify the certification. If the commissioner determines that the state trust company will not comply, or continue to comply, with the requirements of Section 182.011 (Exemption from Statutory Provisions for Certain State Trust Companies) after control is transferred, the commissioner shall terminate the exemption on the effective date of the transfer. After the termination, the acquiring person must file a separate application to obtain a new exemption for the state trust company under Section 182.011 (Exemption from Statutory Provisions for Certain State Trust Companies).
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 250 (S.B. 875), Sec. 8, eff. September 1, 2015.

Source: Section 182.015 — Change of Control of Exempt State Trust Company, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­182.­htm#182.­015 (accessed Jun. 5, 2024).

182.001
Organization and General Powers of State Trust Company 182.002
Certificate of Formation of State Trust Company 182.003
Application for State Trust Company Charter 182.004
Notice and Investigation of Charter Application 182.005
Protest 182.006
Issuance of Charter 182.007
Deadline to Begin Business 182.008
Restricted Capital 182.009
Application of General Corporate Law 182.010
Parity 182.011
Exemption from Statutory Provisions for Certain State Trust Companies 182.012
Application for Exemption 182.013
Annual Certification for Exempt State Trust Company 182.014
Limitation on Effect of Exemption 182.015
Change of Control of Exempt State Trust Company 182.016
Grounds for Revocation of Exemption 182.017
Notice and Effect of Revocation of Exemption 182.018
Action After Revocation of Exemption 182.019
Prior Exemption 182.020
Foreign Corporation Exercising Trust Powers 182.021
Activities Not Requiring Charter 182.101
Amendment or Restatement of State Trust Company Certificate of Formation 182.102
Establishing Series of Shares or Participation Shares 182.103
Change in Restricted Capital 182.104
Capital Notes or Debentures 182.0105
Financial Activities 182.105
Board Designation of Certified Surplus 182.201
Conduct of Trust Business 182.202
Home Office 182.203
Additional Offices 182.0211
Conformance with Securities Act 182.301
Merger Authority 182.302
Merger Application 182.303
Approval of Banking Commissioner 182.304
Rights of Dissenters to Merger 182.401
Authority to Purchase Assets 182.402
Authority to Act as Disbursing Agent 182.403
Liquidation of Selling Institution 182.404
Payment to Creditors 182.405
Sale of Assets 182.501
Merger or Conversion of State Trust Company into Another Trust Institution Exercising Fiduciary Powers 182.502
Conversion of Trust Institution into State Trust Company
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 182.015’s source at texas​.gov