Texas Finance Code

§ 92.607 — DISSOLUTION

FI § 92.607Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 92. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. M. LIMITED SAVINGS BANK

Statute text

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(a)A limited savings bank organized under this subchapter is dissolved on:

(1)the expiration of the period fixed for the duration of the limited savings bank; or

(2)the occurrence of events specified in the certificate of formation or company agreement to cause dissolution.

(b)A dissolution under this section is considered a resolution to close the savings bank under Section 96.251.

Legislative history

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