Tex. Fin. Code § 93.007

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 93.007 - Trust Powers

(a) A savings bank may exercise trust powers only with the commissioner's prior written approval.

(b) The commissioner may approve the exercise of trust powers only after finding that the applicant's savings bank:

(1) is complying with applicable regulatory capital requirements;

(2) is well managed; and

(3) has earnings, resources, and managerial talent adequate to maintain a trust department.

Tex. Fin. Code § 93.007

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.