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

Accessed:
Jun. 5, 2024

§ 35.207’s source at texas​.gov