{"data":{"id":"us-tx/tex.-finance-code-122.010","jurisdiction":"us-tx","citation":"Tex. Finance Code § 122.010","heading":"DEADLINE FOR COMMENCING BUSINESS.","body":"(a) A credit union shall begin business before six months after the date of the order approving the credit union's application.\n(b) On request and for good cause shown, the commissioner may grant a credit union that has not begun business within the time prescribed by Subsection (a) a reasonable extension to provide an opportunity to overcome the cause of the delay.\n(c) The incorporators may appeal to the commission, in accordance with commission rules, a commissioner's decision refusing a request for an extension.\n(d) The commissioner may cancel the certificate of incorporation in accordance with commission rules if a credit union does not begin business within the prescribed time.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE D. CREDIT UNIONS","CHAPTER 122. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS","SUBCHAPTER A. INCORPORATION REQUIREMENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.122.htm#122.010","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"ce6ec266198ec9215ea5a8f57b1d0c6e2a4051779220059761e40c8cf72fcfc9","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-122.009","next":"us-tx/tex.-finance-code-122.011"},"notice":"GroundRules: Original legal text. Not legal advice."}