Tex. Fin. Code Section 35.207
Cease and Desist Order

(a)

The banking commissioner may serve a proposed cease and desist order on a person that the banking commissioner believes is engaging or is likely to engage in an unauthorized 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 each act or practice alleged to be an unauthorized activity; and

(3)

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

(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 department unless the parties agree to a later hearing date. At the hearing, the department 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 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 activity.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 35.207 — Cease and Desist Order, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­35.­htm#35.­207 (accessed Jun. 5, 2024).

35.0001
Applicability to Bank Subsidiaries 35.001
Determination Letter 35.002
Cease and Desist Order 35.003
Removal or Prohibition Order 35.004
Hearing on Proposed Order 35.005
Emergency Order 35.006
Copy of Letter or Order in Bank Records 35.007
Effect of Final Removal or Prohibition Order 35.008
Limitation on Action 35.009
Enforcement by Commissioner 35.010
Administrative Penalty 35.011
Payment or Appeal of Administrative Penalty 35.012
Confidentiality of Records 35.013
Collection of Fees 35.0035
Removal or Prohibition Orders in Response to Certain Criminal Offenses 35.0071
Application for Release from Final Removal or Prohibition Order 35.101
Order of Supervision 35.102
Order of Conservatorship 35.103
Notice and Hearing 35.104
Post-hearing Order 35.105
Confidentiality of Records 35.106
Authority of Supervisor 35.107
Authority of Conservator 35.108
Qualifications of Appointee 35.109
Expenses 35.110
Review of Supervisor or Conservator Decision 35.111
Venue 35.112
Duration 35.113
Administrative Election of Remedies 35.114
Release Before Hearing 35.201
Inapplicability 35.202
Investigation of Unauthorized Activity 35.203
Subpoena Authority 35.204
Enforcement of Subpoena 35.205
Confidentiality of Subpoenaed Records 35.206
Evidence 35.207
Cease and Desist Order 35.208
Emergency Cease and Desist Order 35.209
Judicial Review of Cease and Desist Order 35.210
Violation of Final Cease and Desist Order 35.211
Administrative Penalty 35.212
Payment and Appeal of Administrative Penalty 35.213
Judicial Review of Administrative Penalty 35.1001
Applicability to Bank Subsidiaries
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 35.207’s source at texas​.gov