Grounds For Revocation of Exemption

Sec. 182.016. GROUNDS FOR REVOCATION OF EXEMPTION. The banking commissioner may revoke an exemption of a state trust company if the trust company: (1) makes a false statement under oath on any document required to be filed by this subtitle or finance commission rule; (2) fails to submit to an examination as required by Section 181.104; (3) withholds requested information from the banking commissioner; or (4) violates any provision of this subtitle applicable to an exempt state trust company. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.