Sec. 204.110. SEPARATE ASSETS. (a) Each foreign bank licensed to establish and maintain a Texas state branch or agency in this state shall keep the assets of its business in this state separate and apart from the assets of its business outside this state.
(b) The depositors and creditors of a foreign bank arising out of transactions with, and recorded on the books of, its Texas state branch or agency are entitled to absolute preference and priority over the depositors and creditors of the foreign bank's offices located outside this state with respect to the assets of the foreign bank in this state.
Added by Acts 1999, 76th Leg., ch. 344, Sec. 1.001, eff. Sept. 1, 1999.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle G - Bank Holding Companies; Interstate Bank Operations
Subchapter B. Direct Branch and Agency Offices of Foreign Banks
Section 204.101. Application to Establish Branch or Agency
Section 204.102. Hearing and Decision on Application
Section 204.103. Issuance of License
Section 204.104. No Concurrent Federal Branch or Agency
Section 204.105. Powers of Branch and Agency
Section 204.106. Application to Act as Fiduciary
Section 204.109. Relocation of Office
Section 204.110. Separate Assets
Section 204.111. Disclosure of Lack of Deposit Insurance
Section 204.112. Limitations on Payment of Interest on Deposits
Section 204.113. Pledge of Assets
Section 204.114. Asset Maintenance
Section 204.115. Voluntary Closure of Branch or Agency
Section 204.117. Procedure for Revocation
Section 204.118. Immediate Suspension or Revocation
Section 204.119. Status of Revoked License