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Texas Finance Code - FIN § 62.405. Approval by Commissioner of Plan

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) If the commissioner approves the plan of merger or consolidation, the commissioner shall issue an order approving the merger or consolidation.

(b) If the surviving association is a foreign association, the commissioner shall issue and deliver to the surviving association a certificate of authority to do business as an association in this state for the period expiring on January 31 of the next calendar year.

(c) A surviving association that is a domestic association shall operate under:

(1) the articles and bylaws of the merging or consolidating domestic association;  and

(2) the laws applicable to a domestic association.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 62.405. Approval by Commissioner of Plan - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-62-405/

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