{"data":{"id":"us-tx/tex.-finance-code-185.106","jurisdiction":"us-tx","citation":"Tex. Finance Code § 185.106","heading":"DUTIES OF STATE TRUST COMPANY UNDER SUPERVISION.","body":"During a period of supervision, a state trust company, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or restricted by the order of supervision, may not:\n(1) dispose of, sell, transfer, convey, or encumber the state trust company's assets;\n(2) lend or invest the state trust company's funds;\n(3) incur a debt, obligation, or liability;\n(4) pay a dividend to the state trust company's shareholders or participants;\n(5) solicit or accept any new client accounts;\n(6) remove an executive officer or director, change the number of executive officers or directors, or have any other change in the position of executive officer or director; or\n(7) engage in any other activity determined by the banking commissioner to threaten the safety and soundness of the state trust company.\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. 16, eff. June 14, 2013.\nActs 2025, 89th Leg., R.S., Ch. 639 (H.B. 3806), Sec. 1, eff. September 1, 2025.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE F. TRUST COMPANIES","CHAPTER 185. ENFORCEMENT ACTIONS","SUBCHAPTER B. SUPERVISION AND CONSERVATORSHIP"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.185.htm#185.106","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"6a25807cf373f466c6c1ae2683e37dd554f7f25175d2f4da8be0110b7537c8b7","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-185.105","next":"us-tx/tex.-finance-code-185.107"},"notice":"GroundRules: Original legal text. Not legal advice."}