Texas Finance Code 185.201 – Investigation of Unauthorized Trust Activity
(a) If the banking commissioner has reason to believe that a person has engaged, is engaging, or is likely to engage in an unauthorized trust activity, the banking commissioner may:
(1) investigate as necessary within or outside this state to:
(A) determine whether the unauthorized trust activity has occurred or is likely to occur; or
(B) aid in the enforcement of the laws administered by the banking commissioner;
(2) initiate appropriate disciplinary action as provided by this subchapter; and
(3) report any unauthorized trust activity to a law enforcement agency or another regulatory agency with appropriate jurisdiction.
(b) The banking commissioner may:
(1) on written request furnish to a law enforcement agency evidence the banking commissioner has compiled in connection with the unauthorized activity, including materials, documents, reports, and complaints; and
(2) assist the law enforcement agency or other regulatory agency as requested.
Terms Used In Texas Finance Code 185.201
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) A person acting without malice, fraudulent intent, or bad faith is not subject to liability, including liability for libel, slander, or other relevant tort, because the person files a report or furnishes, orally or in writing, information concerning a suspected, anticipated, or completed unauthorized activity to a law enforcement agency, the banking commissioner or another regulatory agency with appropriate jurisdiction, or an agent or employee of a law enforcement agency, the banking commissioner, or other regulatory agency. The person is entitled to attorney’s fees and court costs if the person prevails in an action for libel, slander, or any other relevant tort based on the report or other information the person furnished as provided by this subchapter.
(d) This section does not:
(1) affect or modify a common law or statutory privilege or immunity;
(2) preempt the authority or relieve the duty of a law enforcement agency or other regulatory agency with appropriate jurisdiction to investigate and prosecute suspected criminal acts;
(3) prohibit a person from voluntarily disclosing information to a law enforcement agency or other regulatory agency; or
(4) limit a power or duty granted to the banking commissioner under this subtitle or other law.