Tex. Fin. Code § 92.054

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 92.054 - Minimum Initial Capital

(a) The finance commission by rule shall set the minimum initial capital of a savings bank in an amount not less than the greater of:

(1) the amount required to obtain insurance of deposit accounts by the Federal Deposit Insurance Corporation; or

(2) the amount required of a national bank.

(b) The initial capital must be paid in cash before the savings bank may begin business.

Tex. Fin. Code § 92.054

Amended by Acts 2001, 77th Leg., ch. 867, Sec. 38, eff. 9/1/2001.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.