Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 185.009 - Enforcement By Commissioner(a) If the banking commissioner reasonably believes that a state trust company or other person has violated any of the following, the banking commissioner may take any action authorized under Subsection (a-1):(1) this subtitle or rules enacted under this subtitle and, as a result of that violation, exposed or could have exposed the state trust company or its clients, creditors, shareholders, or participants to harm;(2) other applicable law of this state and, as a result of that violation, exposed or could have exposed the state trust company or its clients, creditors, shareholders, or participants to harm; or(3) a final order issued by the banking commissioner.(a-1) The banking commissioner may: (1) initiate administrative penalty proceedings against the state trust company or other person, as applicable, in accordance with Sections 185.010 and 185.011;(2) refer the matter to the attorney general for enforcement by injunction or other available remedy; or(3) pursue any other action the banking commissioner considers appropriate under applicable law.(b) If the attorney general prevails in an action brought under Subsection (a-1)(2), the attorney general is entitled to recover reasonable attorney's fees from a state trust company or person committing the violation.Amended By Acts 2011, 82nd Leg., R.S., Ch. 183, Sec. 13, eff. 5/28/2011.Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. 9/1/1999.