Texas Finance Code

§ 92.604 — MANAGERS OF LIMITED SAVINGS BANK

FI § 92.604Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 92. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. M. LIMITED SAVINGS BANK

Statute text

View on source

(a)Management of a limited savings bank shall be exercised by a board of managers consisting of not fewer than five or more than 21 persons.

(b)A manager must meet the qualifications for a director under Section 92.153.

(c)The governing documents of a limited savings bank may use "director" instead of "manager" and "board" instead of "board of managers."

Legislative history

Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.15, eff. September 1, 2005.