GroundRules
Tex. Finance Code § 92.404: DENIAL BY COMMISSIONER OF APPLICATION.
Where this section sits in the code
- FINANCE CODE
- TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
- SUBTITLE C. SAVINGS BANKS
- CHAPTER 92. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS
- SUBCHAPTER I. ADDITIONAL PROVISIONS FOR MERGER OR CONSOLIDATION OF FOREIGN AND DOMESTIC SAVINGS BANKS
If the surviving savings bank is a foreign savings bank, the commissioner shall deny the application if:
(1) the law of the state in which the foreign savings bank has its principal place of business does not permit a savings bank of that state to merge or consolidate with a domestic savings bank if the surviving savings bank is a domestic savings bank; or
(2) the foreign savings bank is controlled by a holding company that has its principal place of business in a state whose law does not permit a savings bank of that state to merge or consolidate with a domestic savings bank if the surviving savings bank is a domestic savings bank.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Collected 2026-08-27T01:47:13Z. Source file · JSON