Tex. Fin. Code Section 204.103
Issuance of License

(a)

The commissioner shall issue a license to a foreign bank to establish and maintain a Texas state branch or agency if the commissioner finds after reasonable inquiry that:

(1)

all members of the management of the Texas state branch or agency have sufficient banking experience, ability, standing, competence, trustworthiness, and integrity to justify a belief that the agency will operate in compliance with state law;

(2)

the foreign bank has sufficient standing to justify a belief that the Texas state branch or agency will be free from improper or unlawful influence or interference with respect to the office’s operation in compliance with state law; and

(3)

the foreign bank is acting in good faith and the application does not contain a material misrepresentation.

(b)

Each Texas state branch or agency shall post its license in a conspicuous place at its office. A license issued under this subchapter is not transferable or assignable.
Added by Acts 1999, 76th Leg., ch. 344, Sec. 1.001, eff. Sept. 1, 1999.

Source: Section 204.103 — Issuance of License, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­204.­htm#204.­103 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 204.103’s source at texas​.gov