Texas Finance Code

§ 32.007 — DEADLINE TO BEGIN BUSINESS

FI § 32.007Title 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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If the state bank does not open and engage in the business of banking within six months after the date of the granting of its charter, the banking commissioner may forfeit the charter or cancel the conditional approval of application for charter without judicial action.

Legislative history

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