{"data":{"id":"us-tx/tex.-finance-code-62.404","jurisdiction":"us-tx","citation":"Tex. Finance Code § 62.404","heading":"DENIAL BY COMMISSIONER OF APPLICATION.","body":"If the surviving association is a foreign association, the commissioner shall deny the application if:\n(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\n(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.\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 I. ADDITIONAL PROVISIONS FOR MERGER OR CONSOLIDATION OF DOMESTIC AND FOREIGN ASSOCIATIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.62.htm#62.404","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"dbd7963c18e4aa46990062c4e87323783e59903fff2f900f0e92a8313cadf4cd","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-62.403","next":"us-tx/tex.-finance-code-62.405"},"notice":"GroundRules: Original legal text. Not legal advice."}