Texas Finance Code 185.111 – Suit Filed Against or On Behalf of State Trust Company Under Supervision or Conservatorship
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(a) A suit filed against a state trust company while the state trust company is under conservatorship, or against a person in connection with an action taken or decision made by that person as a supervisor or conservator of a state trust company, must be brought in Travis County regardless of whether the state trust company remains under an order of supervision or conservatorship.
(b) A conservator may sue a person on the trust company’s behalf to preserve, protect, or recover state trust company assets, including claims or causes of action. The suit may be in:
(1) Travis County; or
(2) another location where jurisdiction and venue against that person may be obtained under law.
Terms Used In Texas Finance Code 185.111
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- Venue: The geographical location in which a case is tried.