{"data":{"id":"us-tx/tex.-finance-code-183.104","jurisdiction":"us-tx","citation":"Tex. Finance Code § 183.104","heading":"ADVISORY DIRECTOR OR ADVISORY MANAGER.","body":"(a) An advisory director or advisory manager is not considered to be a director if the advisory director or advisory manager:\n(1) is not elected by the shareholders or participants of the state trust company;\n(2) does not vote on matters before the board or a committee of the board;\n(3) is not counted for purposes of determining a quorum of the board or committee; and\n(4) provides solely general policy advice to the board.\n(b) A state trust company may not disclose to an advisory director or advisory manager confidential information pertaining to the state trust company or the company's clients unless:\n(1) the board adopts a resolution that designates the advisory director or advisory manager as a person who is officially connected to the trust company and that describes the purpose for disclosure of the information, which must be a reasonable business purpose; and\n(2) the disclosure is made under a written confidentiality agreement between the state trust company and the advisory director or advisory manager.\nAdded by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.\nAmended by:\nActs 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 13, eff. June 14, 2013.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE F. TRUST COMPANIES","CHAPTER 183. OWNERSHIP AND MANAGEMENT OF STATE TRUST COMPANY","SUBCHAPTER B. BOARD AND OFFICERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.183.htm#183.104","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"3682381e00f589c315541422641a5db25eb9da330c71629ce3e82b54ad3b6fb4","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-183.103","next":"us-tx/tex.-finance-code-183.105"},"notice":"GroundRules: Original legal text. Not legal advice."}