Sec. 62.052. INCORPORATION REQUIREMENTS. (a) An application to incorporate an association under this subchapter must be submitted to the commissioner.
(b) The application must include information required by rule of the finance commission.
(c) The association must have capital in an amount set by the commissioner that is sufficient to carry out the purposes for which incorporation is requested.
(d) If the commissioner considers the association to be reorganized or merged to be in an unsafe condition:
(1) Chapter 2001, Government Code, does not apply to the application; and
(2) the application and all information relating to the application are confidential and not subject to public disclosure.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 24, eff. Sept. 1, 2001.
Section: Previous 62.006 62.007 62.008 62.009 62.010 62.011 62.051 62.052 62.053 62.101 62.102 62.104 62.105 62.106 62.107 NextLast modified: September 28, 2016