Texas Finance Code

§ 92.055 — APPROVAL OF MANAGING OFFICER

FI § 92.055Title 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 savings bank may not begin business before:

(1)it presents to the commissioner the name and qualifications of its managing officer; and

(2)the commissioner approves the managing officer.

(b)An applicant is not required at a hearing on the application or in a public record to specify the name and qualifications of the managing officer of the savings bank.

Legislative history

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