Texas Finance Code

§ 92.259 — PROPERTY AND OBLIGATIONS OF CONVERTED SAVINGS BANK

FI § 92.259Title 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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The new financial institution:

(1)retains any property, right, or obligation of the converted savings bank; and

(2)to the extent the provisions can be made applicable, is subject to Sections 92.306-92.308 as if it were a new savings bank.

Legislative history

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