Texas Finance Code
§ 122.001 — APPLICATION TO INCORPORATE
FI § 122.001Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 122. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. A. INCORPORATION REQUIREMENTS
Statute text
View on source(a)Seven or more individuals may apply to incorporate a credit union under this chapter if:
(1)each is at least 18 years old;
(2)a majority are residents of this state;
(3)each has subscribed for at least 10 shares; and
(4)all share the definable community of interest stated in the articles of incorporation.
(b)The incorporators shall file with the commissioner:
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Legislative history
Acts 2021, 87th Leg., R.S., Ch. 300 (S.B. 707), Sec. 7, eff. September 1, 2021.