§ 12602. Nondepository trust companies
§ 12602. Nondepository trust companies (a) A nondepository trust company has all the powers, duties, and obligations of a financial institution under this title, except as provided in this section. In the exercise of its powers and the conduct of its business, the nondepository trust company shall be subject to all the same fiduciary duties […]
§ 12603. Merchant banks
§ 12603. Merchant banks (a) A merchant bank is a financial institution organized under the provisions of this title whose activities are generally limited to lending and investing. Deposit activity is prohibited. Unless otherwise indicated in this chapter, a merchant bank has all the powers, duties, and obligations of a financial institution under this title. […]
§ 12604. Uninsured banks
§ 12604. Uninsured banks (a) An uninsured bank is a financial institution that only accepts deposits for which insurance of deposits by the FDIC is not required. For purposes of this section, uninsured banks may accept deposits from a depositor which, when added to the deposits already held for the depositor, if any, exceed the […]
§ 12601. Certain special purpose financial institutions authorized
§ 12601. Certain special purpose financial institutions authorized (a) In addition to universal financial institutions authorized under subchapters 1-5 of this chapter and under chapter 203 of this title, special purpose financial institutions may be established in this state, subject to the conditions and limitations imposed under this subchapter. (b) Any person who, directly or […]