Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Finance Code § 62.009: DEADLINE FOR COMMENCING BUSINESS.

Where this section sits in the code

FINANCE CODE
TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
SUBTITLE B. SAVINGS AND LOAN ASSOCIATIONS
CHAPTER 62. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS
SUBCHAPTER A. INCORPORATION IN GENERAL

(a) An association shall begin business not later than the first anniversary of the date the commissioner approves the association's application.

(b) On the request of the incorporators and for good cause shown, the commissioner may grant a reasonable extension of the deadline prescribed by Subsection (a).

(c) The commissioner may rescind the authority to operate of an association that does not begin business as required by this subtitle.

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

Collected 2026-08-27T01:47:13Z. Source file · JSON

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