Texas Finance Code

§ 92.101 — PURPOSE OF INCORPORATION

FI § 92.101Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 92. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. C. INCORPORATION TO REORGANIZE OR MERGE

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A person may apply to incorporate a savings bank for the purpose of:

(1)purchasing the assets, assuming the liabilities other than liability to shareholders, and continuing the business of a financial institution the commissioner considers to be in an unsafe condition;

(2)acquiring an existing financial institution by merger; or

(3)facilitating a reorganization or merger with or into a savings bank under rules adopted by the finance commission. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by:

Legislative history

Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.04, eff. September 1, 2005.