Tex. Fin. Code Section 187.103
Acquiring an Interstate Trust Office

(a)

An out-of-state trust company that does not operate a trust office in this state and that meets the requirements of this subchapter may acquire an existing trust institution in this state and after the acquisition operate and maintain the acquired institution as a trust office in this state, subject to Subchapter A, Chapter 183 (Ownership and Management of State Trust Company), or Subchapter A, Chapter 33 (Ownership and Management of State Bank), if applicable.

(b)

An out-of-state trust institution that does not operate a trust office in this state may not establish and maintain a trust office in this state through the acquisition of a trust office of an existing trust institution except as provided by Section 187.102 (Establishing an Interstate Trust Office). This section does not affect or prohibit a trust institution or other person from chartering a state trust company pursuant to Section 182.001 (Organization and General Powers of State Trust Company).
Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 17, eff. June 14, 2013.

Source: Section 187.103 — Acquiring an Interstate Trust Office, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­187.­htm#187.­103 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 187.103’s source at texas​.gov