Sec. 185.006. COPY OF LETTER OR ORDER IN STATE TRUST COMPANY RECORDS. A copy of any determination letter, proposed order, emergency order, or final order issued by the banking commissioner under this subchapter shall be immediately brought to the attention of the board of the affected state trust company, regardless of whether the state trust company is a party, and filed in the minutes of the board. Each director, manager, or managing participant shall immediately certify to the banking commissioner in writing that the certifying person has read and understood the determination letter, proposed order, emergency order, or final order. The required certification may not be considered an admission of a person in a subsequent legal or administrative proceeding.
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