{"data":{"id":"us-tx/tex.-finance-code-32.401","jurisdiction":"us-tx","citation":"Tex. Finance Code § 32.401","heading":"AUTHORITY TO PURCHASE ASSETS.","body":"(a) A state bank may purchase assets from another financial institution or other seller, except that the prior written approval of the banking commissioner is required if the purchase price exceeds an amount equal to three times the bank's unimpaired capital and surplus. The finance commission by rule may require a state bank to obtain the prior written approval of the banking commissioner for a transaction not otherwise subject to approval that involves potentially substantial risks to the safety and soundness of the purchasing bank.\n(b) Except as otherwise expressly provided by another statute, the purchase of all or part of the assets of the selling entity does not make the purchasing bank responsible for any liability or obligation of the selling entity that the purchasing bank does not expressly assume.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 735 (H.B. 2754), Sec. 5, eff. September 1, 2007.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE A. BANKS","CHAPTER 32. POWERS, ORGANIZATION, AND FINANCIAL REQUIREMENTS","SUBCHAPTER E. PURCHASE OR SALE OF ASSETS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.32.htm#32.401","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"b40f6979c1b888867062a99778cfcc7fb40c7ccc31569539293c1d4ca50171ca","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-32.304","next":"us-tx/tex.-finance-code-32.402"},"notice":"GroundRules: Original legal text. Not legal advice."}