Texas § 204.119 STATUS OF REVOKED LICENSE.

Texas Statutes

§ 204.119 — STATUS OF REVOKED LICENSE.

Texas § 204.119

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 204.119 (2026).

Text

Sec. 204.119. STATUS OF REVOKED LICENSE. Unless stayed by the district court that has jurisdiction over an appeal, a final order of the commissioner revoking a license is effective immediately and the foreign bank shall immediately cease all activity in this state requiring a license. Subject to Section 204.120 , all functions requiring a license must be immediately transferred to a branch, affiliate, or agency of the foreign bank that is located outside of this state and that has the power to perform those functions under governing law. Continued activity in this state of an unlicensed foreign bank is subject to Subchapter C , Chapter 35 .

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Sec. 204.119. STATUS OF REVOKED LICENSE. Unless stayed by the district court that has jurisdiction over an appeal, a final order of the commissioner revoking a license is effective immediately and the foreign bank shall immediately cease all activity in this state requiring a license. Subject to Section 204.120 , all functions requiring a license must be immediately transferred to a branch, affiliate, or agency of the foreign bank that is located outside of this state and that has the power to perform those functions under governing law. Continued activity in this state of an unlicensed foreign bank is subject to Subchapter C , Chapter 35 .

Legislative History

Added by Acts 1999, 76th Leg., ch. 344, Sec. 1.001, eff. Sept. 1, 1999. Amended by: Acts 2019, 86th Leg., R.S., Ch. 20 (S.B. 614 ), Sec. 31, eff. September 1, 2019.