Texas Finance Code - Section 92.054. Minimum Initial Capital
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§ 92.054. MINIMUM INITIAL CAPITAL. (a) The finance
commission by rule shall set the minimum initial capital of a
savings bank in an amount not less than the greater of:
(1) the amount required to obtain insurance of deposit
accounts by the Federal Deposit Insurance Corporation; or
(2) the amount required of a national bank.
(b) The initial capital must be paid in cash before the
savings bank may begin business.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2001, 77th Leg., ch. 867, § 38, eff. Sept. 1, 2001.
Section: 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 92.061
Last modified: August 10, 2007
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