{"data":{"id":"us-tx/tex.-finance-code-92.351","jurisdiction":"us-tx","citation":"Tex. Finance Code § 92.351","heading":"AUTHORITY TO REORGANIZE, MERGE, OR CONSOLIDATE.","body":"(a) A savings bank may reorganize, merge, or consolidate with a corporation, another financial institution, or another entity under a plan adopted by the board.\n(b) The plan must be approved:\n(1) at an annual meeting or a special meeting called to consider the action by a majority of the total vote the members or shareholders are entitled to cast; and\n(2) by the commissioner.\n(c) A shareholder of a capital stock savings bank has the same dissenter's rights as a shareholder of a domestic corporation under the Texas Business Corporation Act.\n(d) A reorganization, merger, or consolidation is subject to Section 16, Article XVI, Texas Constitution. A merger or consolidation of a domestic savings bank with a foreign savings bank is also subject to Subchapter I.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.\nAmended by:\nActs 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.14, eff. September 1, 2005.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE C. SAVINGS BANKS","CHAPTER 92. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS","SUBCHAPTER H. REORGANIZATION, MERGER, AND CONSOLIDATION IN GENERAL"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.92.htm#92.351","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"d530ce1c15865723a99696777cbfeef07829626101e1b131f9dd02e10251db3e","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-92.308","next":"us-tx/tex.-finance-code-92.352"},"notice":"GroundRules: Original legal text. Not legal advice."}