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Texas Finance Code - FIN § 92.252. Application for Conversion

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

(a) A savings bank may convert to another financial institution if a resolution declaring the conversion is adopted by a majority vote of the members or shareholders of the savings bank who are entitled to vote at an annual meeting or a special meeting called to consider the conversion.

(b) The application to convert must:

(1) be filed in the office of the commissioner not later than the 30th day after the date of the meeting; and

(2) include a copy of the minutes of the meeting, sworn to by the secretary or an assistant secretary.

(c) The copy of the minutes filed under Subsection (b) is presumptive evidence that the meeting was held and the resolution was adopted.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 92.252. Application for Conversion - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-92-252/

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