Sec. 185.001. DETERMINATION LETTER. (a) If the banking commissioner determines from examination or other credible evidence that a state trust company is in a condition that may warrant the issuance of an enforcement order under this chapter, the banking commissioner may notify the state trust company in writing of the determination, the requirements the state trust company must satisfy to abate the determination, and the time in which the requirements must be satisfied to avert further administrative action. The determination letter must be delivered by personal delivery or by registered or certified mail, return receipt requested.
(b) The determination letter may be issued in connection with the issuance of a cease and desist, removal, or prohibition order under this subchapter or an order of supervision or conservatorship under Subchapter B.
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 185 - Enforcement Actions
Subchapter A. Enforcement Orders
Section 185.0001. Applicability to State Trust Company Subsidiaries
Section 185.001. Determination Letter
Section 185.002. Cease and Desist Order
Section 185.003. Removal or Prohibition Order
Section 185.0035. Removal or Prohibition Orders in Response to Certain Criminal Offenses
Section 185.004. Hearing on Proposed Order
Section 185.005. Emergency Order
Section 185.006. Copy of Letter or Order in State Trust Company Records
Section 185.007. Effect of Final Removal or Prohibition Order
Section 185.0071. Application for Release From Final Removal or Prohibition Order
Section 185.008. Limitation on Action
Section 185.009. Enforcement by Commissioner
Section 185.010. Administrative Penalty
Section 185.011. Payment or Appeal of Administrative Penalty