Texas Finance Code

§ 62.201 — CONDITIONS FOR CONVERSION

FI § 62.201Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 62. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. E. CONVERSION TO FEDERAL ASSOCIATION

Statute text

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(a)The finance commission by rule shall establish the conditions under which an association may convert to a federal association under Section 5, Home Owners' Loan Act (12 U.S.C. Section 1464), and its subsequent amendments.

(b)The conditions must ensure that the conversion will not cause undue harm to the public interest or another existing association.

Legislative history

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