Texas Finance Code - Section 92.301. Application To Convert
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§ 92.301. APPLICATION TO CONVERT. (a) Another financial
institution may convert to a savings bank if the conversion is
approved by a majority vote of the members or shareholders of the
financial institution cast at an annual meeting or a special
meeting called to consider the conversion.
(b) The application to convert must:
(1) be submitted to the commissioner and mailed to the
appropriate banking agency 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 conversion
was approved.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2005, 79th Leg., ch. 1018, § 5.12, eff. Sept. 1, 2005.
Section: 92.253 92.254 92.255 92.256 92.257 92.258 92.259 92.301 92.302 92.303 92.304 92.305 92.306 92.307 92.308
Last modified: August 10, 2007
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