(a) A bank authorized by its charter to conduct a trust
business that maintains its principal office or a branch in this state
in accordance with governing law may freely establish one or more
representative trust offices in this state to the extent authorized
by its primary regulator and governing law, except that a foreign
bank must comply with Finance Code, §204.106 in lieu of this
section.
(b) An out-of-state bank authorized by its charter
to conduct a trust business that has not established or acquired a
branch in this state may establish a representative trust office in
this state:
(1) if not chartered by a federal banking regulatory
agency and not insured by the Federal Deposit Insurance Corporation,
only after complying with §21.44 of this title (relating to Representative
Trust Offices of Out-of-State Trust Companies and Uninsured State
Banks); or
(2) if chartered by a federal banking regulatory agency
or insured by the Federal Deposit Insurance Corporation, after filing
a written notice with the banking commissioner disclosing:
(A) the name of the institution and the address of
its principal office;
(B) the physical address and the proposed opening date
of the proposed office;
(C) a description of proposed activities at the office
consistent with the limitations of Finance Code, §187.201;
(D) copies of any regulatory notices, filings, or publications
required by the trust institution's home state regulator and/or its
primary federal regulator regarding the establishment of the office;
and
(E) a copy of the institution's registration filed
with the secretary of state pursuant to Finance Code, §201.102.
(c) An out-of-state bank that has established and is
maintaining a representative trust office in this state pursuant to
subsection (b) of this section may establish additional representative
trust offices in this state without providing notice to the banking
commissioner.
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