Texas Finance Code

§ 62.555 — DENIAL OF APPLICATION

FI § 62.555Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 62. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. L. CHANGE OF CONTROL OF ASSOCIATION

Statute text

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(a)The commissioner by order shall deny an application unless the applicant establishes that:

(1)the acquisition would not:

(A)substantially lessen competition;

(B)restrain trade in a manner that would result in a monopoly; or

(C)further a combination or conspiracy to monopolize or attempt to monopolize the savings and loan industry in any part of this state;

(2)the financial condition of an acquiring party would not jeopardize the financial stability of the association being acquired;

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Legislative history

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