(a) (1) This chapter shall be administered by the Bank Commissioner, and every authorized trust institution shall be under the supervision of the commissioner.(2) The commissioner shall execute and enforce through the State Bank Department or other agents all laws relating to authorized trust institutions.(3) The commissioner may promulgate rules as he or she determines to be necessary or appropriate to implement this chapter.
(1) This chapter shall be administered by the Bank Commissioner, and every authorized trust institution shall be under the supervision of the commissioner.
(2) The commissioner shall execute and enforce through the State Bank Department or other agents all laws relating to authorized trust institutions.
(3) The commissioner may promulgate rules as he or she determines to be necessary or appropriate to implement this chapter.
(b) The commissioner may subpoena witnesses, compel their attendance, require the production of evidence, administer oaths, and examine a person under oath in connection with any subject related to a duty imposed or a power vested in the commissioner.
(c) (1) (A) The commissioner or an employee or officer of the department who participates in the examination of a trust institution, or who may be called upon to make an official decision or determination affecting the operation of a trust institution, shall not be an officer, director, attorney, owner, or holder of stock in a state trust company, or a company that owns or controls a state trust company, or receive, directly or indirectly, a payment or gratuity from a trust institution, state trust company, or company controlling a trust company.(B) A person subject to this section shall not borrow money from a state trust company.(2) A person subject to this section may:(A) Be a depositor in a trust institution that the department regulates; and(B) Purchase trust or fiduciary services, other than credit services, under rates and terms generally available to other customers of the trust institution.
(1) (A) The commissioner or an employee or officer of the department who participates in the examination of a trust institution, or who may be called upon to make an official decision or determination affecting the operation of a trust institution, shall not be an officer, director, attorney, owner, or holder of stock in a state trust company, or a company that owns or controls a state trust company, or receive, directly or indirectly, a payment or gratuity from a trust institution, state trust company, or company controlling a trust company.(B) A person subject to this section shall not borrow money from a state trust company.
(A) The commissioner or an employee or officer of the department who participates in the examination of a trust institution, or who may be called upon to make an official decision or determination affecting the operation of a trust institution, shall not be an officer, director, attorney, owner, or holder of stock in a state trust company, or a company that owns or controls a state trust company, or receive, directly or indirectly, a payment or gratuity from a trust institution, state trust company, or company controlling a trust company.
(B) A person subject to this section shall not borrow money from a state trust company.
(2) A person subject to this section may:(A) Be a depositor in a trust institution that the department regulates; and(B) Purchase trust or fiduciary services, other than credit services, under rates and terms generally available to other customers of the trust institution.
(A) Be a depositor in a trust institution that the department regulates; and
(B) Purchase trust or fiduciary services, other than credit services, under rates and terms generally available to other customers of the trust institution.