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Can you summarize Tex. Fin. Title 3, Subtitle A?
FINANCIAL INSTITUTIONS AND BUSINESSES > BANKS
Short Summary
The provided legal document content covers various aspects related to state banks in Texas. It includes the ownership and management of state banks, voting rights, composition and qualifications of the board of directors, appointment and responsibilities of officers, conduct of officers, directors, employees, and shareholders, restrictions on transactions involving bank assets, confidentiality of information obtained by the banking commissioner, succession of trust powers for state banks during dissolution and liquidation. The documents apply to state banks, their board of directors, officers, advisory directors, limited banking associations, financial institutions, shareholders, officers, directors, affiliates, third-party service providers, participants and managers of limited banking associations, banking commissioner, Federal Deposit Insurance Corporation or its successor. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
State banks, their board of directors, officers, advisory directors, limited banking associations, financial institutions, shareholders, officers, directors, affiliates, third-party service providers, participants and managers of limited banking associations, banking commissioner, Federal Deposit Insurance Corporation or its successor
What does it govern?
Ownership and management of state banks, voting rights, composition and qualifications of the board of directors, appointment and responsibilities of officers, conduct of officers, directors, employees, and shareholders, restrictions on transactions involving bank assets, confidentiality of information obtained by the banking commissioner, succession of trust powers for state banks during dissolution and liquidation
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
Class A misdemeanor for disclosure or permission to access confidential information in violation of the document, liability for providing false information with disregard for the truth, refusal to release information or records by the banking commissioner that might jeopardize an ongoing investigation
Jurisdiction
Texas