After resolutions to dissolve and liquidate a state trust company have been adopted by the board and shareholders or participants, a majority of the directors, managers, or managing participants shall verify and file with the banking commissioner certified copies of:

1. (1) the resolutions of the shareholders or participants that:

   1. (A) are adopted at a meeting for which proper notice was given or by unanimous written consent; and
   2. (B) approve the dissolution and liquidation of the state trust company;
2. (2) the resolutions of the board approving the dissolution and liquidation of the state trust company if the trust company is operated by a board of directors or managers;
3. (3) the notice to the shareholders or participants informing them of the meeting described by Subdivision (1)(A); and
4. (4) a plan of liquidation.

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.

Acts 2007, 80th Leg., R.S., Ch. 735 (H.B. 2754), Sec. 18, eff. September 1, 2007.