Tex. Fin. Code § 92.101

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

Section 92.101 - Purpose of Incorporation

A person may apply to incorporate a savings bank for the purpose of:

(1) purchasing the assets, assuming the liabilities other than liability to shareholders, and continuing the business of a financial institution the commissioner considers to be in an unsafe condition;

(2) acquiring an existing financial institution by merger; or

(3) facilitating a reorganization or merger with or into a savings bank under rules adopted by the finance commission.

Tex. Fin. Code § 92.101

Amended By Acts 2005, 79th Leg., Ch. 1018, Sec. 5.04, eff. 9/1/2005.

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