Tex. Fin. Code Section 182.017
Notice and Effect of Revocation of Exemption

(a)

If the banking commissioner determines from examination or other credible evidence that an exempt state trust company has violated any of the requirements of this subchapter relating to an exempt state trust company, the banking commissioner may by personal delivery or registered or certified mail, return receipt requested, notify the state trust company in writing that the state trust company’s exemption has been revoked. The notice must state grounds for the revocation with reasonable certainty. The notice must state its effective date, which may not be earlier than the fifth day after the date the notification is mailed or delivered.

(b)

The revocation takes effect for the state trust company if the state trust company does not request a hearing in writing before the effective date. After taking effect the revocation is final and nonappealable as to that state trust company, and the state trust company is subject to all of the requirements and provisions of this subtitle applicable to nonexempt state trust companies.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.

Source: Section 182.017 — Notice and Effect of Revocation of Exemption, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­182.­htm#182.­017 (accessed May 18, 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:
May 18, 2024

§ 182.017’s source at texas​.gov