Tex. Fin. Code Section 185.207
Emergency Cease and Desist Order

(a)

The banking commissioner may issue an emergency cease and desist order to a person who the banking commissioner reasonably believes is engaging in a continuing unauthorized trust activity that is fraudulent or threatens immediate and irreparable public harm.

(b)

The order must:

(1)

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

(2)

state the specific charges and require the person immediately to cease and desist from the unauthorized activity; and

(3)

contain a notice that a request for hearing may be filed under this section.

(c)

Unless a person against whom the emergency order is directed requests a hearing in writing before the 11th day after the date it is served on the person, the emergency order is final and nonappealable as to that person. A request for a hearing must:

(1)

be in writing and directed to the banking commissioner; and

(2)

state the grounds for the request to set aside or modify the order.

(d)

On receiving a request for a hearing, the banking commissioner shall serve notice of the time and place of the hearing by personal delivery or registered or certified mail, return receipt requested. The hearing must be held not later than the 10th day after the date the banking commissioner receives the request for a hearing 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. The person requesting the hearing may cross-examine witnesses and show cause why the order should not be affirmed.

(e)

After the hearing, the banking commissioner shall affirm, modify, or set aside in whole or part the emergency cease and desist order. An order affirming or modifying the emergency cease and desist order is immediately final for purposes of enforcement and appeal.

(f)

An order continues in effect unless the order is stayed by the banking commissioner. The banking commissioner may impose any condition before granting a stay of the order.

(g)

The banking commissioner may release a final cease and desist order issued under this section or information regarding 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 185.207 — Emergency Cease and Desist Order, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­185.­htm#185.­207 (accessed May 18, 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:
May 18, 2024

§ 185.207’s source at texas​.gov