An entity is a subsidiary trust company of a bank holding company if:

1. (1) the entity is a:

   1. (A) trust company organized under Subchapter A, Chapter 182; or
   2. (B) bank that is organized to conduct a trust business and any incidental business or to exercise trust powers; and
2. (2) more than 50 percent of the voting stock of the entity is directly or indirectly owned by the bank holding company.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.52, eff. Sept. 1, 1999;

Acts 1999, 76th Leg., ch. 344, Sec. 2.030, eff. Sept. 1, 1999.

Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 79, eff. September 1, 2007.