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H.B. No. 3806 AN ACT relating to prohibited activities of a state trust company under supervision. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 185.106, Finance Code, is amended to read as follows: Sec. 185.106. DUTIES OF STATE TRUST COMPANY UNDER SUPERVISION. During a period of supervision, a state trust company, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or restricted by the order of supervision, may not: (1) dispose of, sell, transfer, convey, or encumber the state trust company's assets; (2) lend or invest the state trust company's funds; (3) incur a debt, obligation, or liability; (4) pay a [cash] dividend to the state trust company's shareholders or participants; (5) solicit or accept any new client accounts; [or] (6) remove an executive officer or director, change the number of executive officers or directors, or have any other change in the position of executive officer or director; or (7) engage in any other activity determined by the banking commissioner to threaten the safety and soundness of the state trust company. SECTION 2. This Act takes effect September 1, 2025. ______________________________ ______________________________ President of the Senate Speaker of the House I certify that H.B. No. 3806 was passed by the House on April 30, 2025, by the following vote: Yeas 131, Nays 0, 3 present, not voting. ______________________________ Chief Clerk of the House I certify that H.B. No. 3806 was passed by the Senate on May 25, 2025, by the following vote: Yeas 31, Nays 0. ______________________________ Secretary of the Senate APPROVED: _____________________ Date _____________________ Governor
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