Texas Finance Code - Section 92.101. Purpose Of Incorporation
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Texas Laws > Finance Code > Texas Finance Code - Section 92.101. Purpose Of Incorporation
§ 92.101. PURPOSE OF INCORPORATION. A person may apply
to incorporate a savings bank for the purpose of:
(1) purchasing the assets, assuming the liabilities
other than liability to shareholders, and continuing the business
of a financial institution the commissioner considers to be in an
unsafe condition;
(2) acquiring an existing financial institution by
merger; or
(3) facilitating a reorganization or merger with or
into a savings bank under rules adopted by the finance commission.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2005, 79th Leg., ch. 1018, § 5.04, eff. Sept. 1, 2005.
Section: 92.057 92.058 92.059 92.060 92.061 92.062 92.063 92.101 92.102 92.103 92.151 92.152 92.153 92.154 92.155
Last modified: August 11, 2007
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