Enrolled Bill Summary

            House Bill 1768 amends the Finance Code to update and clarify provisions relating to the Finance Commission of Texas and the Texas Department of Banking and to include or update certain sunset across-the-board provisions. The bill authorizes the banking commissioner to appoint more than one deputy banking commissioner as necessary for the efficient operation of the department and makes conforming amendments to the Texas Trust Company Act. The bill authorizes the banking commissioner to examine state banks once every 18 months, rather than annually, in certain circumstances based on a bank's assets and record of performance, and it provides that an examination report is confidential and subject to restrictions on its disclosure by the banking commissioner or an officer or employee of the department. The bill makes minor changes to the requirements for publishing notice of charter applications regarding acquisition of control for state banks and state trust companies, authorizes a state bank to solicit transactions equivalent to loans at loan production offices, and prohibits a person who is the subject of a final removal or prohibition order issued by the banking commissioner from serving as a director, manager, or managing participant of a state bank or state trust company.

            House Bill 1768 requires an order by the banking commissioner to close and liquidate a state trust company to be in writing and a copy of the order to be posted at the company's main entrance. Finally, the bill conforms provisions of the Texas Banking Act to recent federal financial modernization and interstate banking legislation.