Tex. Fin. Code Section 185.206
Cease and Desist Order Regarding Unauthorized Trust Activity

(a)

The banking commissioner may serve a proposed cease and desist order on a person the banking commissioner believes is engaging or is likely to engage in an unauthorized trust activity. The order must:

(1)

be delivered by personal delivery or registered or certified mail, return receipt requested, to the person’s last known address;

(2)

state the acts or practices alleged to be an unauthorized activity; and

(3)

state the effective date of the order, which may not be earlier than the 21st day after the date the proposed order is mailed or delivered.

(b)

Unless the person against whom the proposed order is directed requests a hearing in writing before the effective date of the proposed order, the order takes effect and is final and nonappealable as to that person.

(c)

A requested hearing on a proposed order shall be held not later than the 30th day after the date the first written request for a hearing on the order is received by the banking commissioner unless the parties agree to a later hearing date. At the hearing, the banking commissioner has the burden of proof and must present evidence in support of the order. Each person against whom the order is directed may cross-examine witnesses and show cause why the order should not be issued.

(d)

After the hearing, the banking commissioner shall issue or decline to issue a cease and desist order. The proposed order may be modified as necessary to conform to the findings at the hearing. An order issued under this subsection:

(1)

is immediately final for purposes of enforcement and appeal; and

(2)

must require the person to immediately cease and desist from the unauthorized trust activity.

(e)

The banking commissioner may release a final cease and desist order issued under this section or information relating to the existence of the order to the public if the banking commissioner finds that the release would enhance the effective enforcement of the order or will serve the public interest.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.

Source: Section 185.206 — Cease and Desist Order Regarding Unauthorized Trust Activity, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­185.­htm#185.­206 (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
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 185.206’s source at texas​.gov