Section 21.41 - Written Notice and Application for Change of Home Office(a) Relocation by notice. If the location that is the home office of a trust company prior to a proposed relocation of the home office is to remain an additional office of the trust company after the relocation, the trust company may relocate its home office by filing a written notice pursuant to Finance Code, § RSA 182.202(c). The filed notice must contain all information required by subsection (c) of this section, accompanied by the required filing fee pursuant to § RSA 21.2 of this title (relating to Filing and Investigation Fees), and notice of the submission must be published as required by subsection (e) of this section. A trust company filing notice of a home office relocation under this subsection may relocate its home office on the 31st day after the required notice and fee have been received by the banking commissioner, unless the banking commissioner gives notice in writing, prior to the expiration of that time period, that an earlier or later date is authorized or that additional information and additional time for analysis is required. Upon issuance of a notice requiring additional information and additional time for analysis, the trust company may relocate its home office only on written approval of the banking commissioner. Except as otherwise provided in this section, the banking commissioner shall evaluate the notice under the criteria of § RSA 21.42(e) of this title (relating to Establishment, Relocation and Closing of an Additional Office).(b) Relocation by application. If Finance Code, § RSA 182.202(c), and subsection (a) of this section do not apply, a trust company desiring to change its home office location must file an application with the banking commissioner pursuant to Finance Code, § RSA 182.202(d), setting forth all information required by subsection (d) of this section, accompanied by the required filing fee pursuant to § RSA 21.2 of this title, and notice of the submission must be published as required by subsection (e) of this section. The banking commissioner shall issue a written notice no later than 15 days after the date the initial filing is received, as required by § RSA 21.4 of this title (relating to Required Information and Abandoned Filings), informing the applicant either that all filing fees have been paid and the application is complete and accepted for filing, or that the application is deficient and specific additional information is required. Except as otherwise provided in this section, the banking commissioner shall evaluate the application under the criteria of § RSA 21.42(e) of this title. An applicant under this subsection may not relocate its home office without the prior written approval of the banking commissioner.(c) Contents of notice. The notice filed under subsection (a) of this section must disclose: (1) the name of the trust company requesting the home office relocation;(2) the street address of the trust company's home office before the requested home office relocation;(3) the street address of the trust company's proposed home office;(4) the desired effective date of the home office relocation under subsection (a) of this section;(5) a copy of the resolution adopted by the trust company's board of directors authorizing the proposed home office relocation;(6) the cost to be incurred in connection with the relocation and a statement of the impact of such cost on the trust company's ability to meet liquidity requirements;(7) evidence that the trust company has considered applicable federal law, if any;(8) a description of any actual, proposed, or contemplated financial involvement by an officer, director, manager, managing participant, or principal shareholder or participant of the trust company with respect to its home office relocation; and(9) such other information as the banking commissioner may require.(d) Contents of application. The application submitted under subsection (b) of this section must disclose: (1) the name of the trust company requesting the home office relocation;(2) the street address of the trust company's home office before the requested home office relocation;(3) the street address of the trust company's proposed home office;(4) the desired effective date for the home office relocation;(5) a copy of the resolution adopted by the trust company's board of directors authorizing the home office relocation;(6) the cost to be incurred in connection with the relocation and a statement of the impact of such cost on the trust company's ability to meet liquidity requirements;(7) a written statement signed by the principal executive officer of the trust company or a majority of the trust company's board of directors stating whether the home office relocation will result in an abandonment of all or a part of the community served by the trust company present home office location and, if so, an explanation of how the abandonment is consistent with the original determination of public convenience and advantage for the establishment of the trust company at its existing home office location;(8) a written statement signed by the principal executive officer of the trust company or a majority of the trust company's board of directors stating whether the home office relocation is anticipated to result in a reduction of trust services presently offered by the trust company at its present location within the 18-month period after the proposed effective date of the relocation and, if so, an explanation of the anticipated reduction in trust and fiduciary services and how the diminution in services is consistent with the original determination of public convenience and advantage for the establishment of the trust company at its existing home office location;(9) a description of any actual, proposed, or contemplated financial involvement by an officer, director, manager, managing participant, or principal shareholder or participant of the trust company with respect to the home office relocation;(10) evidence that the trust company has considered applicable federal law, if any; and(11) such other information as the banking commissioner may require.(e) Public notice and participation. (1) Within 14 days of the initial submission of a notice or application under subsection (a) or (b) of this section, the trust company shall publish notice of the submission as required by § RSA 21.5 of this title (relating to Public Notice). Notice must be published in the community where the current home office of the trust company is located and in the community where the proposed home office will be located, and must disclose the locations of the existing and proposed home offices.(2) For a period of 14 days after publication of notice or such longer period as the banking commissioner may allow for good cause shown, the public may submit written comments or protests. Persons submitting comments are not entitled to further notice of or participation in the proceedings. In the event of a properly filed protest, each protesting party has the rights and responsibilities of a protesting party to a notice of additional office under § RSA 21.42 of this title.(f) Certificate of formation. An amendment to the certificate of formation of the trust company is not required to effect a change in the location of its home office under this section. However, if the certificate of formation is subsequently restated for any reason, the trust company must include the address of its then current home office in the restated certificate of formation.7 Tex. Admin. Code § 21.41
The provisions of this §21.41 adopted to be effective July 2, 1998, 23 TexReg 6715; amended to be effective September 5, 2002, 27 TexReg 8203; amended to be effective November 7, 2013, 38 TexReg 7690