Texas Finance Code - Section 32.003. Application For State Bank Charter; Standards For Approval
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§ 32.003. APPLICATION FOR STATE BANK CHARTER; STANDARDS
FOR APPROVAL. (a) An application for a state bank charter must be
made under oath and in the form required by the banking
commissioner, who shall inquire fully into the identity and
character of each proposed director, manager, officer, managing
participant, and principal shareholder or participant. The
application must be accompanied by all charter fees and deposits
required by law.
(b) The banking commissioner shall grant a state bank
charter only if the commissioner determines that the organizers
have established that public convenience and advantage will be
promoted by the establishment of the state bank. In determining
whether public convenience and advantage will be promoted, the
banking commissioner shall consider the convenience of the public
to be served and whether:
(1) the organizational and capital structure and
amount of initial capitalization is adequate for the business plan;
(2) the anticipated volume and nature of business
indicates a reasonable probability of success and profitability
based on the market sought to be served;
(3) the officers, directors, managers, and managing
participants as a group have sufficient banking experience,
ability, standing, competence, trustworthiness, and integrity to
justify a belief that the bank will operate in compliance with law
and that success of the bank is probable;
(4) each principal shareholder or participant has
sufficient experience, ability, standing, competence,
trustworthiness, and integrity to justify a belief that the bank
will be free from improper or unlawful influence or interference
with respect to the bank's operation in compliance with law; and
(5) the organizers are acting in good faith.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2001, 77th Leg., ch. 528, § 5, eff. Sept. 1, 2001.
Section: 31.304 31.305 31.306 31.307 31.308 32.001 32.002 32.003 32.004 32.005 32.006 32.007 32.008 32.009 32.010
Last modified: August 10, 2007
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