(a) A state trust company requesting an exemption under § 182.011 shall file an application with the banking commissioner that includes:
(1) a nonrefundable application fee set by the finance commission;
(2) a detailed sworn statement showing the state trust company’s assets and liabilities as of the end of the calendar month preceding the filing of the application;
(3) a sworn statement of the reason for requesting the exemption;
(4) a sworn statement that the state trust company:
(A) has or will have only family clients and transacts or will transact business solely on behalf of family clients and their related interests;
(B) is or will be wholly owned, directly or indirectly, legally or beneficially, by one or more family members;
(C) does not or will not hold itself out to the general public as a corporate fiduciary for hire; and
(D) will not transact business with the general public without the prior written permission of the banking commissioner;
(5) the current street mailing address and telephone number of the physical location in this state at which the state trust company will maintain its books and records, with a sworn statement that the address given is true and correct and is not a United States Postal Service post office box or a private mail box, postal box, or mail drop; and
(6) a list of the specific provisions of this subtitle for which the request for an exemption is made.
(b) The banking commissioner may not approve an exemption unless the application is completed as required by Subsection (a).

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