Texas Finance Code - Section 92.001. Applicability Of Other Law
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§ 92.001. APPLICABILITY OF OTHER LAW. (a) With respect
to a savings bank, other than a savings bank organized as a limited
savings bank, organized before January 1, 2006, the Texas Business
Corporation Act, the Texas Miscellaneous Corporation Laws Act
(Article 1302-1.01 et seq., Vernon's Texas Civil Statutes), and
other law relating to general business corporations apply to a
savings bank to the extent not inconsistent with this subtitle or
the proper business of a savings bank.
(b) With respect to a savings bank organized as a limited
savings bank before January 1, 2006, the Texas Limited Liability
Company Act (Article 1528n, Vernon's Texas Civil Statutes) and any
other law relating to a limited liability company organized in
Texas apply to a limited savings bank to the extent not inconsistent
with this subtitle or the proper business of a limited savings bank.
(c) With respect to a savings bank, other than a savings
bank organized as a limited savings bank, organized on or after
January 1, 2006, the provisions of the Business Organizations Code
applicable to general business corporations apply to a savings bank
to the extent not inconsistent with this subtitle or the proper
business of a savings bank.
(d) With respect to a savings bank organized as a limited
savings bank on or after January 1, 2006, the provisions of the
Business Organizations Code applicable to a limited liability
company organized in this state apply to a limited savings bank to
the extent not inconsistent with this subtitle or the proper
business of a limited savings bank.
(e) With respect to a savings bank or limited savings bank
organized before January 1, 2006, the finance commission may
establish rules permitting a savings bank or limited savings bank
to elect to be governed by the provisions of the Business
Organizations Code to the extent not inconsistent with this
subtitle or the proper business of a savings bank or limited savings
bank.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2005, 79th Leg., ch. 1018, § 5.03, eff. Sept. 1, 2005.
Section: 91.001 91.002 91.003 91.004 91.005 91.006 91.007 92.001 92.051 92.052 92.053 92.054 92.055 92.056 92.057
Last modified: August 10, 2007
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