| (a) General. A foreign bank may establish a representative
office in this state whether or not the foreign bank is authorized
to maintain a Texas branch or agency.
(b) Applicability. This section applies only to a foreign
bank that does not maintain a Texas branch or agency. A foreign bank
that maintains a Texas branch or agency is not subject to this section
and may establish a representative office by providing the notice
required under §3.41(c) of this title (relating to Applications,
Notices and Reports Related to Foreign Bank Branches and Agencies).
(c) Statement of registration. To establish a representative
office in this state, a foreign bank shall file with the banking commissioner
a statement of registration on the form prescribed by the department.
The statement of registration must:
(1) be in English and be signed, sworn to and acknowledged
by an officer of the foreign bank;
(2) be fully completed and provide the information
and include as attachments the documentation specified in the registration
form and the department's instructions, including the information
and documentation required under the Finance Code, §204.201,
and such other information and documentation as the banking commissioner
reasonably requests; and
(3) be accompanied by the registration fee established
in §15.2(b) of this title (relating to Filing and Investigation
Fees).
(d) Commencement of operations. A foreign bank may
establish its representative office upon receipt of written confirmation
from the banking commissioner that the statement of registration is
complete and all required fees have been paid.
(e) Separate statement of registration required. A
statement of registration must be filed for each representative office
a foreign bank establishes in this state. If a foreign bank has established
an initial representative office in accordance with this section,
the banking commissioner may waive one or more of the informational
requirements of the statement of registration form with respect to
any additional Texas representative office the foreign bank seeks
to establish. However, payment of the registration fee provided for
in §15.2(b) of this title (relating to Filing and Investigation
Fees) may not be waived.
(f) Notices. A foreign bank that maintains a representative
office in this state shall file the following notices in English with
the banking commissioner:
(1) the change of control notice required under the
Finance Code, §204.005;
(2) notice of the closing of a representative office
in this state at least 30 days before the effective date of the closing;
(3) notice of a change in location containing the street,
post office and mailing address of the new location at least 30 days
before the effective date of the relocation; and
(4) copies of other notices or applications filed with
a federal regulator affecting the representative office in this state,
at the time filed with the federal regulator.
|
| Source Note: The provisions of this §3.44 adopted to be effective March 9, 2006, 31 TexReg 1643; amended to be effective July 5, 2018, 43 TexReg 4451; amended to be effective September 8, 2022, 47 TexReg 5328 |
