Tex. Finance Code § 204.116
This is the official text of Tex. Finance Code § 204.116, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 204.116. ENFORCEMENT.
Official statutory text
The commissioner may initiate an enforcement action under Chapter 35 or a proceeding to revoke the license of a Texas state branch or agency if the commissioner by examination or other credible evidence finds that the foreign bank:
(1) does not currently meet the criteria established by this chapter for the original issuance of a license;
(2) has refused to permit the commissioner to examine its books, papers, accounts, records, or affairs in accordance with Sections 204.002 and 204.003;
(3) has failed to make a report required under this chapter or made a material false or misleading statement in the report;
(4) has violated this subtitle, another law or rule applicable to a foreign bank or a Texas state branch or agency, or a final and enforceable order of the commissioner or the finance commission;
(5) has misrepresented or concealed a material fact in the original application for license;
(6) has violated a condition of its license or an agreement between the foreign bank and the commissioner or the department; or
(7) conducts business in an unsafe and unsound manner.
(1) does not currently meet the criteria established by this chapter for the original issuance of a license;
(2) has refused to permit the commissioner to examine its books, papers, accounts, records, or affairs in accordance with Sections 204.002 and 204.003;
(3) has failed to make a report required under this chapter or made a material false or misleading statement in the report;
(4) has violated this subtitle, another law or rule applicable to a foreign bank or a Texas state branch or agency, or a final and enforceable order of the commissioner or the finance commission;
(5) has misrepresented or concealed a material fact in the original application for license;
(6) has violated a condition of its license or an agreement between the foreign bank and the commissioner or the department; or
(7) conducts business in an unsafe and unsound manner.
Status: in_force · Read it on the official government site
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