Texas § 182.020 FOREIGN CORPORATION EXERCISING TRUST POWERS.

Texas Statutes

§ 182.020 — FOREIGN CORPORATION EXERCISING TRUST POWERS.

Texas § 182.020

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 182.020 (2026).

Text

Sec. 182.020. FOREIGN CORPORATION EXERCISING TRUST POWERS.

(a)A foreign corporation may not conduct a trust business in this state. A foreign corporation may control a state trust company in this state if the state trust company is formed or acquired and operated as provided by this subtitle and applicable rules.

(b)A foreign corporation or other entity chartered or domiciled in another jurisdiction as a trust company or depository institution with trust powers may act as a trustee in this state only as provided by Subchapter A , Chapter 505 , Estates Code.

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Sec. 182.020. FOREIGN CORPORATION EXERCISING TRUST POWERS. (a) A foreign corporation may not conduct a trust business in this state. A foreign corporation may control a state trust company in this state if the state trust company is formed or acquired and operated as provided by this subtitle and applicable rules.
(b) A foreign corporation or other entity chartered or domiciled in another jurisdiction as a trust company or depository institution with trust powers may act as a trustee in this state only as provided by Subchapter A , Chapter 505 , Estates Code.

Legislative History

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999. Amended by: Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296 ), Sec. 20.016, eff. September 1, 2015.