Texas Finance Code

§ 92.251 — CONDITIONS FOR CONVERSION

FI § 92.251Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 92. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. F. CONVERSION OF SAVINGS BANK TO OTHER FINANCIAL INSTITUTION

Statute text

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(a)The finance commission by rule shall establish the conditions under which a savings bank may convert to another financial institution.

(b)The rules must ensure that a conversion does not cause undue harm to the public interest or to another existing financial institution.

Legislative history

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