Tex. Fin. Code Section 204.119
Status of Revoked License

Unless stayed by the district court that has jurisdiction over an appeal, a final order of the commissioner revoking a license is effective immediately and the foreign bank shall immediately cease all activity in this state requiring a license. Subject to Section 204.120 (Seizure and Liquidation), all functions requiring a license must be immediately transferred to a branch, affiliate, or agency of the foreign bank that is located outside of this state and that has the power to perform those functions under governing law. Continued activity in this state of an unlicensed foreign bank is subject to Subchapter C, Chapter 35 (Enforcement Actions).

Added by Acts 1999, 76th Leg., ch. 344, Sec. 1.001, eff. Sept. 1, 1999.

Amended by:

Acts 2019, 86th Leg., R.S., Ch. 20 (S.B. 614), Sec. 31, eff. September 1, 2019.

Source: Section 204.119 — Status of Revoked License, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.204.htm#204.119 (accessed May 18, 2024).

204.001
Transacting Business 204.002
Books, Accounts, and Records 204.003
Examination 204.004
Reports 204.005
Change of Control of Foreign Bank 204.006
Operations in This State of Banks Owned or Controlled by Foreign Banks and Other Foreign Persons 204.007
Establishment of Interstate Branch in This State by an Out-of-state Foreign Bank 204.008
Conversion of Existing Office 204.101
Application to Establish Branch or Agency 204.102
Hearing and Decision on Application 204.103
Issuance of License 204.104
No Concurrent Federal Branch or Agency 204.105
Powers of Branch and Agency 204.106
Application to Act as Fiduciary 204.107
Filing of Amendments to Certificate of Formation 204.108
Amended License for Branch or Agency 204.109
Relocation of Office 204.110
Separate Assets 204.111
Disclosure of Lack of Deposit Insurance 204.112
Limitations on Payment of Interest on Deposits 204.113
Pledge of Assets 204.114
Asset Maintenance 204.115
Voluntary Closure of Branch or Agency 204.116
Enforcement 204.117
Procedure for Revocation 204.118
Immediate Suspension or Revocation 204.119
Status of Revoked License 204.120
Seizure and Liquidation 204.121
Dissolution 204.201
Registration of Representative Office 204.202
Place of Business 204.203
Permissible Activities of Representative Office 204.204
Enforcement 204.205
Procedure for Revocation 204.206
Effect of Revoked Registration 204.207
Dissolution

Accessed:
May 18, 2024

§ 204.119’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._fin._code_section_204.119

Original Source: Section 204.119 — Status of Revoked License, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.204.htm#204.119 (last accessed May 18, 2024).