Texas Finance Code - Section 92.053. Additional Requirements For Mutual Savings Bank
Legal Research Home >
Texas Lawyer > Finance Code > Texas Finance Code - Section 92.053. Additional Requirements For Mutual Savings Bank
§ 92.053. ADDITIONAL REQUIREMENTS FOR MUTUAL SAVINGS
BANK. (a) A mutual savings bank's articles of incorporation must
include a statement of the amount of deposit liability of the
savings bank and the amount of the expense fund with which the
savings bank will begin business.
(b) Before approving the articles of incorporation of a
mutual savings bank, the commissioner shall require the savings
bank to have subscriptions for an aggregate amount of deposit
accounts and an expense fund in an aggregate amount the finance
commission by rule establishes as necessary for the successful
operation of a mutual savings bank.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2001, 77th Leg., ch. 867, § 37, eff. Sept. 1, 2001.
Section: 91.004 91.005 91.006 91.007 92.001 92.051 92.052 92.053 92.054 92.055 92.056 92.057 92.058 92.059 92.060
Last modified: August 10, 2007
|
