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TX HB3806
Bill
Status
Passed
6/20/2025
Primary Sponsor
Stan Lambert
Click for details
AI Summary
- Amends Section 185.106 of the Texas Finance Code governing state trust companies under regulatory supervision
- Expands the dividend prohibition from "cash dividend" to any "dividend" paid to shareholders or participants without prior approval
- Adds new restriction prohibiting state trust companies under supervision from engaging in any activity the banking commissioner determines threatens the company's safety and soundness
- Requires prior approval from the banking commissioner or supervisor before undertaking prohibited activities including disposing of assets, lending or investing funds, incurring debts, or making changes to executive officers or directors
- Takes effect September 1, 2025; passed House 131-0 on April 30, 2025 and Senate 31-0 on May 25, 2025
Legislative Description
Relating to prohibited activities of a state trust company under supervision.
Property Interests
Last Action
Effective on 9/1/25
6/20/2025
Committee Referrals
Business & Commerce5/1/2025
Pensions, Investments & Financial Services3/26/2025
Full Bill Text
No bill text available