Texas Finance Code
§ 62.453 — APPROVAL OF MERGER
FI § 62.453Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 62. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. J. MERGER OF SUBSIDIARY CORPORATION
Statute text
View on source(a)The secretary of state shall approve the articles of merger if the secretary of state determines that:
(1)the articles of merger comply with applicable law; and
(2)all fees and franchise taxes due from each corporation have been paid.
(b)The commissioner shall approve the articles of merger if the commissioner determines that:
(1)the articles of merger comply with applicable law; and
(2)the merger is in the best interest of the association.
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Legislative history
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.