Tex. Finance Code § 204.103
ISSUANCE OF LICENSE
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 204.103, ISSUANCE OF LICENSE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/646850
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Full text
(a) The commissioner shall issue a license to a foreign bank to establish and maintain a Texas state branch or agency if the commissioner finds after reasonable inquiry that:
(1) all members of the management of the Texas state branch or agency have sufficient banking experience, ability, standing, competence, trustworthiness, and integrity to justify a belief that the agency will operate in compliance with state law;
(2) the foreign bank has sufficient standing to justify a belief that the Texas state branch or agency will be free from improper or unlawful influence or interference with respect to the office's operation in compliance with state law; and
(3) the foreign bank is acting in good faith and the application does not contain a material misrepresentation.
(b) Each Texas state branch or agency shall post its license in a conspicuous place at its office. A license issued under this subchapter is not transferable or assignable.