Texas Finance Code

§ 92.257 — EFFECT OF ISSUANCE OF CHARTER

FI § 92.257Title 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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On the issuance of a charter by the appropriate banking agency, the savings bank:

(1)ceases to be a savings bank incorporated under this subtitle; and

(2)is not subject to the supervision and control of the commissioner under this subtitle.

Legislative history

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