Sec. 182.020. FOREIGN CORPORATION EXERCISING TRUST POWERS. (a) A foreign corporation may not conduct a trust business in this state. A foreign corporation may control a state trust company in this state if the state trust company is formed or acquired and operated as provided by this subtitle and applicable rules.
(b) A foreign corporation or other entity chartered or domiciled in another jurisdiction as a trust company or depository institution with trust powers may act as a trustee in this state only as provided by Subchapter A, Chapter 505, Estates Code.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.016, eff. September 1, 2015.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 182 - Powers, Organization, and Financial Requirements
Subchapter A. Organization and Powers in General
Section 182.001. Organization and General Powers of State Trust Company
Section 182.002. Certificate of Formation of State Trust Company
Section 182.003. Application for State Trust Company Charter; Standards for Approval
Section 182.004. Notice and Investigation of Charter Application
Section 182.005. Protest; Hearing; Decision on Charter Application
Section 182.006. Issuance of Charter
Section 182.007. Deadline to Begin Business
Section 182.008. Restricted Capital
Section 182.009. Application of General Corporate Law
Section 182.0105. Financial Activities
Section 182.011. Exemption From Statutory Provisions for Certain State Trust Companies
Section 182.012. Application for Exemption
Section 182.013. Annual Certification for Exempt State Trust Company
Section 182.014. Limitation on Effect of Exemption
Section 182.015. Change of Control of Exempt State Trust Company
Section 182.016. Grounds for Revocation of Exemption
Section 182.017. Notice and Effect of Revocation of Exemption
Section 182.018. Action After Revocation of Exemption
Section 182.019. Prior Exemption
Section 182.020. Foreign Corporation Exercising Trust Powers