Texas § 186.101 INITIATING VOLUNTARY DISSOLUTION.

Texas Statutes

§ 186.101 — INITIATING VOLUNTARY DISSOLUTION.

Texas § 186.101

Code FIFinance Code

This text of Texas § 186.101 (INITIATING VOLUNTARY DISSOLUTION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 186.101 (2026).

Text

Sec. 186.101. INITIATING VOLUNTARY DISSOLUTION.

(a)A state trust company may initiate voluntary dissolution and surrender its charter as provided by this subchapter:

(1)with the approval of the banking commissioner;

(2)after complying with the provisions of the Business Organizations Code regarding board and shareholder approval for voluntary dissolution; and

(3)by filing the notice of dissolution as provided by Section 186.102 .

(b)The shareholders or participants of a state trust company initiating voluntary dissolution by resolution shall appoint one or more persons to act as liquidating agent or committee. The liquidating agent or committee shall conduct the liquidation as provided by law and under the supervision of the board. The board, in consultation with the banking commissio

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 186.101. INITIATING VOLUNTARY DISSOLUTION. (a) A state trust company may initiate voluntary dissolution and surrender its charter as provided by this subchapter:
(1) with the approval of the banking commissioner;
(2) after complying with the provisions of the Business Organizations Code regarding board and shareholder approval for voluntary dissolution; and
(3) by filing the notice of dissolution as provided by Section 186.102 .
(b) The shareholders or participants of a state trust company initiating voluntary dissolution by resolution shall appoint one or more persons to act as liquidating agent or committee. The liquidating agent or committee shall conduct the liquidation as provided by law and under the supervision of the board. The board, in consultation with the banking commissioner, shall require the liquidating agent or committee to give a suitable bond.

Legislative History

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999. Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962 ), Sec. 76, eff. September 1, 2007.