Texas Finance Code - Section 92.102. Incorporation Requirements
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§ 92.102. INCORPORATION REQUIREMENTS. (a) An
application to incorporate a savings bank under this subchapter
must be submitted to the commissioner.
(b) The application must include information required by
the commissioner or by rule of the finance commission.
(c) The savings bank must have capital in an amount
determined by the commissioner to be sufficient to carry out the
purposes for which incorporation is requested.
(d) Chapter 2001, Government Code, does not apply to the
application if:
(1) the commissioner considers the financial
institution to be reorganized or merged to be in an unsafe
condition; or
(2) the savings bank incorporated under this
subchapter does not survive the merger or is facilitating the
continuation of an existing savings bank corporate reorganization
as defined by rules adopted by the finance commission.
(e) If the commissioner considers the financial institution
to be reorganized or merged to be in an unsafe condition, the
application and all information relating to the application are
confidential and not subject to public disclosure.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2001, 77th Leg., ch. 867, § 41, eff. Sept. 1, 2001; Acts
2005, 79th Leg., ch. 1018, § 5.05, eff. Sept. 1, 2005.
Section: 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 92.156
Last modified: August 10, 2007
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