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Current as of January 01, 2024 | Updated by Findlaw Staff
If it appears that a change in control may have taken place without approval, the commissioner may call a hearing to determine whether:
(1) a change in control has occurred without approval or an unauthorized person without any apparent ownership interest in the association, acting alone or with others, effectively has indirect controlling or dominating influence over the management or policies of the association; and
(2) if control or indirect controlling or dominating influence has been acquired as provided by Subdivision (1), an appropriate supervisory order should be issued, including an order requiring a divestiture of that control or indirect controlling or dominating influence.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 62.558. Unauthorized Change of Control - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-62-558/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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