Sec. 93.007. TRUST POWERS. (a) A savings bank may exercise trust powers only with the commissioner's prior written approval.
(b) The commissioner may approve the exercise of trust powers only after finding that the applicant's savings bank:
(1) is complying with applicable regulatory capital requirements;
(2) is well managed; and
(3) has earnings, resources, and managerial talent adequate to maintain a trust department.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Section 93.001. General Corporate Powers
Section 93.002. Enlargement of Powers
Section 93.003. Powers of Federal Savings Bank
Section 93.004. Power to Borrow
Section 93.006. Power to Act Under Certain Federal Retirement Plans
Section 93.008. Powers Relative to Other Financial Institutions
Section 93.009. Right to Act to Avoid Loss
Section 93.010. Closing Place of Business