Tex. Fin. Code Section 185.107
Powers and Duties of Conservator

(a)

A conservator appointed under this subchapter shall immediately take charge of the state trust company and all of its property, books, records, and affairs on behalf and at the direction and control of the banking commissioner.

(b)

Subject to any limitation contained in the order of appointment or other direction of the banking commissioner, the conservator has all the powers of the directors, managers, managing participants, officers, and shareholders or participants of a state trust company and shall conduct the business of the state trust company and take all steps the conservator considers appropriate to remove the causes and conditions requiring the conservatorship. During the conservatorship, the board may not direct or participate in the affairs of the state trust company.

(c)

Except as otherwise provided by this subchapter, by rules adopted under this subtitle, or by Section 12.106 (Liability), the conservator has the rights and privileges and is subject to the duties, restrictions, penalties, conditions, and limitations of the directors, officers, and employees of state trust companies.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.

Source: Section 185.107 — Powers and Duties of Conservator, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­185.­htm#185.­107 (accessed Jun. 5, 2024).

185.0001
Applicability to State Trust Company Subsidiaries 185.001
Determination Letter 185.002
Cease and Desist Order 185.003
Removal or Prohibition Order 185.004
Hearing on Proposed Order 185.005
Emergency Order 185.006
Copy of Letter or Order in State Trust Company Records 185.007
Effect of Final Removal or Prohibition Order 185.008
Limitation on Action 185.009
Enforcement by Commissioner 185.010
Administrative Penalty 185.011
Payment or Appeal of Administrative Penalty 185.012
Confidentiality of Records 185.013
Collection of Fees 185.0035
Removal or Prohibition Orders in Response to Certain Criminal Offenses 185.0071
Application for Release from Final Removal or Prohibition Order 185.101
Order of Supervision 185.102
Order of Conservatorship 185.103
Hearing 185.104
Post-hearing Order 185.105
Confidentiality of Records 185.106
Duties of State Trust Company Under Supervision 185.107
Powers and Duties of Conservator 185.108
Qualifications of Appointee 185.109
Expenses 185.110
Review of Supervisor or Conservator Decisions 185.111
Suit Filed Against or on Behalf of State Trust Company Under Supervision or Conservatorship 185.112
Duration 185.113
Administrative Election of Remedies 185.114
Release Before Hearing 185.201
Investigation of Unauthorized Trust Activity 185.202
Subpoena Authority 185.203
Enforcement of Subpoena 185.204
Confidentiality of Subpoenaed Records 185.205
Evidence 185.206
Cease and Desist Order Regarding Unauthorized Trust Activity 185.207
Emergency Cease and Desist Order 185.208
Appeal of Cease and Desist Order 185.209
Violation of Final Cease and Desist Order 185.210
Administrative Penalty 185.211
Payment and Appeal of Administrative Penalty 185.212
Judicial Review of Administrative Penalty 185.1001
Applicability to State Trust Company Subsidiaries
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Accessed:
Jun. 5, 2024

§ 185.107’s source at texas​.gov