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Financial Services Law Insights and Observations
Texas Department of Banking issues extension for public and family trust company reporting
On April 1, the Texas Department of Banking issued a notice to trust companies announcing a 31-day extension for (1) public trust companies to report on Condition and Income and (2) exempt family trusts to report Annual Report of Condition and Income and Certification of Exempt Status. The announcement also authorized the use of electronic signatures on both filings mentioned.