Texas Finance Code

§ 92.052 — ADDITIONAL REQUIREMENTS FOR CAPITAL STOCK SAVINGS BANK

FI § 92.052Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 92. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. B. INCORPORATION IN GENERAL

Statute text

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(a)A capital stock savings bank's articles of incorporation must include a statement of:

(1)the aggregate number of shares of common stock that the savings bank may issue;

(2)the par value of each share or that the shares are without par value;

(3)whether the savings bank may issue preferred stock;

(4)the amount of stock that has been subscribed and will be paid for before the savings bank begins business;

(5)the name and address of each subscriber and the amount subscribed by each; and

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Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 36, eff. Sept. 1, 2001.