Texas Finance Code - Section 92.056. Corporate Name
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§ 92.056. CORPORATE NAME. (a) The name of a savings
bank must include the words "State Savings Bank" or the
abbreviation "SSB," preceded by one or more appropriate descriptive
words approved by the commissioner.
(b) The commissioner may not approve the incorporation of a
savings bank that has the same name as another financial
institution authorized to do business in this state under this
subtitle, Subtitle A, or Subtitle B or a name so nearly resembling
the name of another financial institution as to be calculated to
deceive unless the savings bank is formed:
(1) by the reincorporation, reorganization, or
consolidation of the other financial institution; or
(2) on the sale of the property or franchise of the
other savings bank.
(c) A person that is not a state or federal savings bank may
not do business under a name or title that:
(1) contains the words "savings bank";
(2) indicates or reasonably implies that the business
being done is the type of business carried on or transacted by a
savings bank; or
(3) is calculated to lead a person to believe that the
business being done is the type of business carried on or transacted
by a savings bank.
(d) On application by the commissioner or a savings bank, a
court may enjoin a violation of this section.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 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 92.062 92.063
Last modified: August 10, 2007
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