Sec. 204.103.  ISSUANCE OF LICENSE.  (a)  The commissioner shall issue a license to a foreign bank to establish and maintain a Texas state branch or agency if the commissioner finds after reasonable inquiry that:
(1)  all members of the management of the Texas state branch or agency have sufficient banking experience, ability, standing, competence, trustworthiness, and integrity to justify a belief that the agency will operate in compliance with state law;
(2)  the foreign bank has sufficient standing to justify a belief that the Texas state branch or agency will be free from improper or unlawful influence or interference with respect to the office's operation in compliance with state law;  and
(3)  the foreign bank is acting in good faith and the application does not contain a material misrepresentation.
(b)  Each Texas state branch or agency shall post its license in a conspicuous place at its office.  A license issued under this subchapter is not transferable or assignable.
Added by Acts 1999, 76th Leg., ch. 344, Sec. 1.001, eff. Sept. 1, 1999.