Texas Finance Code

§ 96.201 — PLACEMENT OF SAVINGS BANK UNDER VOLUNTARY SUPERVISORY CONTROL

FI § 96.201Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 96. SUPERVISION AND REGULATION · Art. E. VOLUNTARY SUPERVISORY CONTROL

Statute text

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(a)A savings bank's board may consent to the commissioner's placement of the savings bank under supervisory control.

(b)The commissioner may appoint the supervisor and one or more deputy supervisors.

(c)Supervisory control continues until the conditions for which the supervisory control was imposed are corrected.

Legislative history

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