Texas Administrative Code

Texas Administrative Code

TITLE 7	BANKING AND SECURITIES
PART 2	TEXAS DEPARTMENT OF BANKING
CHAPTER 15	CORPORATE ACTIVITIES
SUBCHAPTER F	APPLICATIONS FOR MERGER, CONVERSION, AND PURCHASE OR SALE OF ASSETS
RULE §15.106	Application for Authority to Sell Assets

(D) a copy of current financial statements for each entity involved in the proposed transaction, accompanied by an affidavit of no material change dated no earlier than 30 days prior to the date of submission of the application;

(E) that portion of the most recent watch list of the applicant that identifies low-quality assets;

(F) a description of all material legal or administrative proceedings involving the applicant; and

(G) other information that the banking commissioner, in the exercise of discretion, considers necessary to make an informed decision to approve or deny the proposed transaction. With respect to a proposed interstate merger transaction, the applicant must contact the department to determine additional information that the banking commissioner requires in the application.

(2) The banking commissioner will expedite processing of an application under this subsection to the extent required to protect the interests of the depositors and creditors of the applicant. An application under this subsection is not subject to the notice and publication requirements of §15.5 of this title except as may otherwise be required by the banking commissioner.

Source Note: The provisions of this §15.106 adopted to be effective September 15, 1997, 22 TexReg 8948; amended to be effective January 7, 2004, 29 TexReg 80; amended to be effective November 8, 2012, 37 TexReg 8779; amended to be effective January 2, 2020, 44 TexReg 8232