Texas Finance Code - Section 92.252. Application For Conversion
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§ 92.252. APPLICATION FOR CONVERSION. (a) A savings bank
may convert to another financial institution if a resolution
declaring the conversion is adopted by a majority vote of the
members or shareholders of the savings bank who are entitled to vote
at an annual meeting or a special meeting called to consider the
conversion.
(b) The application to convert must:
(1) be filed in the office of the commissioner not
later than the 30th day after the date of the meeting; and
(2) include a copy of the minutes of the meeting, sworn
to by the secretary or an assistant secretary.
(c) The copy of the minutes filed under Subsection (b) is
presumptive evidence that the meeting was held and the resolution
was adopted.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2005, 79th Leg., ch. 1018, § 5.11, eff. Sept. 1, 2005.
Section: 92.208 92.209 92.210 92.211 92.212 92.213 92.251 92.252 92.253 92.254 92.255 92.256 92.257 92.258 92.259
Last modified: August 10, 2007
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