Texas Finance Code

§ 92.056 — CORPORATE NAME

FI § 92.056Title 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)The name of a savings bank must include the words "State Savings Bank" or the abbreviation "SSB," preceded by one or more appropriate descriptive words approved by the commissioner.

(b)The commissioner may not approve the incorporation of a savings bank that has the same name as another financial institution authorized to do business in this state under this subtitle, Subtitle A, or Subtitle B or a name so nearly resembling the name of another financial institution as to be calculated to deceive unless the savings bank is formed:

(1)by the reincorporation, reorganization, or consolidation of the other financial institution; or

(2)on the sale of the property or franchise of the other savings bank.

(c)A person that is not a state or federal savings bank may not do business under a name or title that:

(1)contains the words "savings bank";

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Legislative history

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