Tex. Finance Code § 35.106
AUTHORITY OF SUPERVISOR
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 35.106, AUTHORITY OF SUPERVISOR, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645158
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Full text
During a period of supervision, a bank, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or restricted by the order of supervision, may not:
(1) dispose of, sell, transfer, convey, or encumber the bank's assets;
(2) lend or invest the bank's money;
(3) incur a debt, obligation, or liability;
(4) pay a dividend to the bank's shareholders;
(5) remove an executive officer or director, change the number of executive officers or directors, or have any other change in the position of executive officer or director; or
(6) engage in any other activity determined by the banking commissioner to threaten the safety and soundness of the bank.