GroundRules
Tex. Finance Code § 62.404: DENIAL BY COMMISSIONER OF APPLICATION.
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 I. ADDITIONAL PROVISIONS FOR MERGER OR CONSOLIDATION OF DOMESTIC AND FOREIGN ASSOCIATIONS
If the surviving association is a foreign association, the commissioner shall deny the application if:
(1) the laws of the state in which the foreign association has its principal place of business do not permit a savings and loan association of that state to merge or consolidate with a domestic association if the surviving association is a domestic association; or
(2) the foreign association is controlled by a savings and loan holding company that has its principal place of business in a state whose laws do not permit a savings and loan association of that state to merge or consolidate with a domestic association if the surviving association is a domestic association.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Collected 2026-08-27T01:47:13Z. Source file · JSON