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

Tex. Finance Code § 62.253: REVIEW BY COMMISSIONER; APPROVAL.

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 F. CONVERSION OF FEDERAL ASSOCIATION OR STATE OR NATIONAL BANK TO STATE ASSOCIATION

(a) On receipt of an application, the commissioner shall order an examination of the entity to be converted.

(b) If the commissioner finds the entity is in sound condition, the commissioner shall:

(1) approve the conversion; and

(2) insert in the certificate of incorporation, at the end of the paragraph preceding the testimonium clause, the statement "This association is incorporated by conversion from __________ (a federal savings and loan association, state bank, or national bank, as applicable)."

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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