Tex. Finance Code § 184.102
TRANSACTIONS IN STATE TRUST COMPANY SHARES OR PARTICIPATION SHARES
Texas · Texas Finance Code · Status: effective
Cite this
- Citation
- Tex. Finance Code § 184.102, TRANSACTIONS IN STATE TRUST COMPANY SHARES OR PARTICIPATION SHARES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/646648
- Permanent ID
ys:prov:646648@1- SHA-256
4b07977f5674151181fe90bc45d9dcb0edf1afb46308dcebef79a29a39006bcb
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Except with the prior written approval of the banking commissioner:
(1) a state trust company may not acquire its own shares or participation shares unless the amount of its undivided profits is sufficient to fully absorb the acquisition of the shares or participation shares under regulatory accounting principles; and
(2) a state trust company may not acquire a lien on its own shares or participation shares unless the amount of indebtedness secured is less than the amount of the state trust company's undivided profits.