(a) Types of fees. Subsection (b) of this section contains
filing fees for specified applications and notices submitted to the
department, and subsection (c) of this section requires a fee for
protesting an application. These fees are due at the time the application
or protest is submitted. Subsection (d) of this section requires an
investigation fee to be paid in certain cases once an application
has been accepted by the department for filing, and in other cases
may require payment of investigative costs upon written request of
the department. Pursuant to subsection (e) of this section, an applicant
may seek waiver or reduction of required fees.
(b) Filing fees. Simultaneously with a submitted application
or notice, an applicant shall pay to the department:
(1) $10,000 for an application for trust company charter
pursuant to Finance Code, §182.003;
(2) $5,000 for an application for conversion of exempt
trust company to non-exempt pursuant to Finance Code, §182.011(d);
(3) $7,500 for an application to authorize a merger
or share exchange pursuant to Finance Code, §182.302, and §21.64
of this title (relating to Application for Merger or Share Exchange),
or $4,000 for an application accepted for expedited treatment pursuant
to §21.63 of this title (relating to Expedited Filings);
(4) $2,000 for each request to authorize an additional
merger if more than one affiliated merger is to occur simultaneously;
(5) $5,000 for an application to authorize a purchase
of assets pursuant to Finance Code, §182.401, if the purchase
price exceeds an amount equal to three times the sum of the trust
company's equity capital less intangible assets;
(6) $2,500 for an application to authorize the sale
of substantially all assets pursuant to Finance Code, §182.405;
(7) $1,000 for a subsidiary notice letter pursuant
to Finance Code, §184.103(c), plus an amount up to an additional
$3,500 if the banking commissioner notifies the applicant that additional
information and analysis is required;
(8) $10,000 for an application regarding acquisition
of control pursuant to Finance Code, §183.002, or $5,000 if the
applicant has previously been approved to control another trust company
and no material changes in the applicant's circumstances have occurred
since the prior approval;
(9) $500 for a notice to change home office with no
abandonment of existing office pursuant to Finance Code, §182.202(c),
and §21.41(a) of this title (relating to Written Notice and Application
for Change of Home Office);
(10) $2,000 for an application to relocate the home
office with abandonment of existing office pursuant to Finance Code, §182.202(d),
and §21.41(b) of this title, or $1,000 for an application accepted
for expedited treatment pursuant to §21.3 of this title (relating
to Expedited Filings);
(11) $500 for a notice of additional office pursuant
to Finance Code, §182.203(a), and §21.42 of this title (relating
to Establishment, Relocation and Closing of an Additional Office),
plus an additional $1,500 if the banking commissioner notifies the
applicant pursuant to Finance Code, §182.203(b), and §21.42(c)
of this title that additional information and analysis is required;
(12) $500 for an application for release from a final
removal or prohibition order pursuant to Finance Code, §185.0071;
(13) $300 for an application to amend a trust company
charter (certificate of formation) pursuant to Finance Code, §182.101;
(14) $2,500 for an application to authorize a reverse
stock split subject to the substantive provisions of §21.92 of
this title (relating to Amendment of Certificate to Effect a Reverse
Stock Split);
(15) $100 for a request for a "no objection" letter
to use a name containing a term listed in Finance Code, §181.004,
by an entity other than a depository institution or a trust company;
(16) $1,000 for an application to authorize acquisition
of treasury stock pursuant to Finance Code, §184.102, and §21.91
of this title (relating to Acquisition and Retention of Shares as
Treasury Stock);
(17) $1,000 for an application to authorize an increase
or reduction in capital and surplus pursuant to Finance Code, §182.103;
(18) $2,500 for an application by an existing trust
company for exemption pursuant to Finance Code, §182.012, and §21.24
of this title (relating to Exemptions for Family Trust Companies);
(19) $2,500 for an application for authority to accept
deposits pursuant to Finance Code, §§182.101, 184.301, and
184.302, and §21.31 of this title (relating to Notice to Engage
in Trust Deposits);
(20) $100 for the annual certification filing for an
exempt trust company pursuant to Finance Code, §182.013;
(21) $10,000 for an application to convert from a trust
institution to a state trust company pursuant to Finance Code, §182.502;
and
(22) $500 for a request to the banking commissioner
to exempt an acquisition of control transaction from the requirements
of Finance Code, §183.001, pursuant to Finance Code, §183.001(d)(4),
which fee will be applied to a subsequent application for approval
of an acquisition of control if the exemption is denied.
(c) Filing fee for protest. A person or entity filing
a protest to the application of another person or entity shall pay
a fee of $2,500 simultaneously with such protest filing. The purpose
of the fee required under this subsection is to partially offset the
department's increased cost of processing and reduce the costs incurred
by the applicant resulting solely from the protest.
(d) Investigative fees and costs. An applicant for
a trust company charter, conversion from an exempt trust company to
a non-exempt trust company or limited trust association, or conversion
of a trust institution to a state trust company shall pay an investigation
fee of $10,000 once the application has been accepted for filing.
If required by the banking commissioner, an applicant under another
type of application or filing listed in subsection (b) of this section
shall pay the reasonable investigative costs of the department incurred
in any investigation, review, or examination considered appropriate
by the department, calculated as provided by §17.22(a) of this
title (relating to Examination and Investigation Fees). Such investigation
fee or costs must be paid by the applicant upon written request of
the department. Failure to timely pay the investigation fee or a bill
for investigative costs constitutes grounds for denial of the submitted
or accepted filing.
(e) Reduction or waiver of fees. Fees paid are nonrefundable
and the banking commissioner shall charge fees on a consistent and
nondiscriminatory basis. However, in the exercise of discretion, the
banking commissioner may reduce, waive, or refund all or part of a
filing fee, investigation fee, or bill for investigative costs if
the banking commissioner concludes that:
(1) the application demonstrates that the fee creates
an unreasonable hardship on the applicant; or
(2) the nature of the application will result in substantially
reduced processing time compared to normal expectations for an application
of that type.
(f) Severability. If any fee or cost recovery set forth
in this section is finally determined by a court of competent jurisdiction
to be invalid that fee or cost recovery shall be severed from this
section and the remainder of this section shall remain fully enforceable.
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Source Note: The provisions of this §21.2 adopted to be effective March 12, 1998, 23 TexReg 2290; amended to be effective July 2, 1998, 23 TexReg 6715; amended to be effective December 31, 1998, 23 TexReg 13022; amended to be effective September 5, 2002, 27 TexReg 8203; amended to be effective January 2, 2014, 38 TexReg 9484; amended to be effective January 2, 2020, 44 TexReg 8236 |