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Texas Statutes (Last Updated: January 4, 2014) |
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FINANCE CODE |
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Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES |
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Subtitle F. TRUST COMPANIES |
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Chapter 186. DISSOLUTION AND RECEIVERSHIP |
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Subchapter B. VOLUNTARY DISSOLUTION |
Sec. 186.102. FILING RESOLUTIONS WITH BANKING COMMISSIONER
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After resolutions to dissolve and liquidate a state trust company have been adopted by the board and shareholders or participants, a majority of the directors, managers, or managing participants shall verify and file with the banking commissioner certified copies of:
(1) the resolutions of the shareholders or participants that:
(A) are adopted at a meeting for which proper notice was given or by unanimous written consent; and
(B) approve the dissolution and liquidation of the state trust company;
(2) the resolutions of the board approving the dissolution and liquidation of the state trust company if the trust company is operated by a board of directors or managers;
(3) the notice to the shareholders or participants informing them of the meeting described by Subdivision (1)(A); and
(4) a plan of liquidation.