Texas Finance Code

§ 62.254 — APPLICABILITY OF SUBTITLE TO CONVERTED ASSOCIATION

FI § 62.254Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 62. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. F. CONVERSION OF FEDERAL ASSOCIATION OR STATE OR NATIONAL BANK TO STATE ASSOCIATION

Statute text

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(a)To the extent applicable, this subtitle applies to an association incorporated under this subchapter.

(b)An association incorporated under this subchapter:

(1)is a continuation of the entity that was converted; and

(2)has the property and rights of that entity.

Legislative history

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