(a) If the banking commissioner reasonably believes that a state trust company or other person has violated any of the following, the banking commissioner may take any action authorized under Subsection (a-1):
(1) this subtitle or rules enacted under this subtitle and, as a result of that violation, exposed or could have exposed the state trust company or its clients, creditors, shareholders, or participants to harm;
(2) other applicable law of this state and, as a result of that violation, exposed or could have exposed the state trust company or its clients, creditors, shareholders, or participants to harm; or
(3) a final order issued by the banking commissioner.
(a-1) The banking commissioner may:
(1) initiate administrative penalty proceedings against the state trust company or other person, as applicable, in accordance with Sections 185.010 and 185.011;
(2) refer the matter to the attorney general for enforcement by injunction or other available remedy; or
(3) pursue any other action the banking commissioner considers appropriate under applicable law.
(b) If the attorney general prevails in an action brought under Subsection (a-1)(2), the attorney general is entitled to recover reasonable attorney's fees from a state trust company or person committing the violation.
Official text of the Texas Finance Code as published by the Texas Legislative Council.