Texas § 186.102 FILING RESOLUTIONS WITH BANKING COMMISSIONER.

Texas Statutes

§ 186.102 — FILING RESOLUTIONS WITH BANKING COMMISSIONER.

Texas § 186.102

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 186.102 (2026).

Text

Sec. 186.102. FILING RESOLUTIONS WITH BANKING COMMISSIONER. After resolutions to dissolve and liquidate a state trust company have been adopted by the board and shareholders or participants, a majority of the directors, managers, or managing participants shall verify and file with the banking commissioner certified copies of:

(1)the resolutions of the shareholders or participants that:

(A)are adopted at a meeting for which proper notice was given or by unanimous written consent; and

(B)approve the dissolution and liquidation of the state trust company;

(2)the resolutions of the board approving the dissolution and liquidation of the state trust company if the trust company is operated by a board of directors or managers;

(3)the notice to the shareholders or participants informing them

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Sec. 186.102. FILING RESOLUTIONS WITH BANKING COMMISSIONER. After resolutions to dissolve and liquidate a state trust company have been adopted by the board and shareholders or participants, a majority of the directors, managers, or managing participants shall verify and file with the banking commissioner certified copies of:
(1) the resolutions of the shareholders or participants that:
(A) are adopted at a meeting for which proper notice was given or by unanimous written consent; and
(B) approve the dissolution and liquidation of the state trust company;
(2) the resolutions of the board approving the dissolution and liquidation of the state trust company if the trust company is operated by a board of directors or managers;
(3) the notice to the shareholders or participants informing them of the meeting described by Subdivision (1)(A); and
(4) a plan of liquidation.

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. 735 (H.B. 2754 ), Sec. 18, eff. September 1, 2007.