Texas Finance Code

§ 273.101 — CREATION OF AND MEMBERSHIP IN CORPORATION

FI § 273.101Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES · Ch. 273. SAVINGS AND LOAN SUPPLEMENTAL FUND ACT · Art. B. ORGANIZATION OF CORPORATION

Statute text

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(a)The Texas Savings and Loan Supplemental Fund Corporation is a nonprofit legal entity that is supervised by the commissioner.

(b)A domestic association is eligible to be a member of the corporation if the association:

(1)is insured by the Federal Deposit Insurance Corporation; and

(2)meets the membership standards adopted by the board and approved by the commissioner as part of the Texas Savings and Loan Supplemental Fund Corporation's plan of operation.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.