Texas Finance Code

§ 92.353 — DENIAL BY COMMISSIONER OF PLAN

FI § 92.353Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 92. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. H. REORGANIZATION, MERGER, AND CONSOLIDATION IN GENERAL

Statute text

View on source

The commissioner shall issue an order denying the plan if:

(1)the reorganization, merger, or consolidation would substantially lessen competition or restrain trade and would result in a monopoly or further a combination or conspiracy to monopolize or attempt to monopolize the financial industry in any part of the state, unless the anticompetitive effects of the reorganization, merger, or consolidation are clearly outweighed in the public interest by the probable effect of the reorganization, merger, or consolidation in meeting the convenience and needs of the community to be served;

(2)the plan is not in the best interest of the financial institutions that are parties to the plan;

(3)the experience, ability, standing, competence, trustworthiness, or integrity of the management of the financial institutions proposing the plan is such that the reorganization, merger, or consolidation would not be in the best interest of the financial institutions that are parties to the plan;

(4)after reorganization, merger, or consolidation, the surviving financial institution would not:

(A)be solvent;

…

Legislative history

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