{"data":{"id":"us-tx/tex.-finance-code-62.002","jurisdiction":"us-tx","citation":"Tex. Finance Code § 62.002","heading":"ADDITIONAL INCORPORATION REQUIREMENTS FOR CAPITAL STOCK ASSOCIATION.","body":"(a) A capital stock association's articles of incorporation must include a statement of:\n(1) the aggregate number of shares of common stock that the association may issue;\n(2) the par value of each share or that the shares are without par value;\n(3) whether the association may issue preferred stock;\n(4) the amount of stock that has been subscribed and will be paid for before the association begins business;\n(5) the name and address of each subscriber and the amount subscribed by each; and\n(6) the amount of paid-in surplus with which the association will begin business.\n(b) Before approving the application of a capital stock association, the commissioner may require the association to have an aggregate amount of capital in the form of stock and paid-in surplus that the finance commission by rule specifies.\n(c) The subscriptions for capital stock and paid-in surplus, less lawful expenditures, shall be returned pro rata to the subscribers if:\n(1) the application is not approved; or\n(2) the association does not begin business.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE B. SAVINGS AND LOAN ASSOCIATIONS","CHAPTER 62. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS","SUBCHAPTER A. INCORPORATION IN GENERAL"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.62.htm#62.002","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"ae7e4c6c21a1528183338c78b19cbeed03b5928fd23bd7b330fc8b923e4616d1","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-62.001","next":"us-tx/tex.-finance-code-62.003"},"notice":"GroundRules: Original legal text. Not legal advice."}