Sec. 183.113. REPORTS OF APPARENT CRIME. (a) A state trust company that is the victim of a robbery, has a shortage of corporate or fiduciary funds in excess of $5,000, or is the victim of an apparent or suspected misapplication of its corporate or fiduciary funds or property in any amount by a director, manager, managing participant, officer, or employee shall report the robbery, shortage, or apparent or suspected misapplication of funds or property to the banking commissioner within 48 hours after the time it is discovered. The initial report may be oral if the report is promptly confirmed in writing. The state trust company or a director, manager, managing participant, officer, employee, or agent is not subject to liability for defamation or another charge resulting from information supplied in the report.
(b) A report filed with the banking commissioner under this section may be a copy of a written report filed with an appropriate federal agency.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 183 - Ownership and Management of State Trust Company
Subchapter B. Board and Officers
Section 183.101. Voting Securities Held by Trust Company
Section 183.103. Board of Directors, Managers, or Managing Participants
Section 183.104. Advisory Director or Advisory Manager
Section 183.105. Required Quarterly Board Meeting
Section 183.107. Limitation on Action of Officer or Employee in Relation to Asset or Liability
Section 183.108. Certain Criminal Offenses
Section 183.109. Transactions With Management and Affiliates
Section 183.110. Fiduciary Responsibility
Section 183.111. Recordkeeping