Texas Finance Code

§ 32.002 — CERTIFICATE OF FORMATION OF STATE BANK

FI § 32.002Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 32. POWERS, ORGANIZATION, AND FINANCIAL REQUIREMENTS · Art. A. ORGANIZATION AND POWERS IN GENERAL

Statute text

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(a)The certificate of formation of a state bank must be signed and acknowledged by each organizer and must contain:

(1)the name of the bank, subject to Subsection (b);

(2)the period of the bank's duration, which may be perpetual, subject to Subsection (c);

(3)the powers of the bank, which may be stated as:

(A)all powers granted by law to a state bank; or

(B)a list of the specific powers under Section 32.001 that the bank chooses to exercise;

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 8, eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 80, eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 735 (H.B. 2754), Sec. 1, eff. September 1, 2007. Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 1, eff. June 14, 2013. Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 2, eff. June 14, 2013.