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Texas Finance Code - FIN § 92.405. 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 savings bank is a foreign savings bank, the commissioner shall issue and deliver to the surviving savings bank a certificate of authority to do business as a savings bank in this state for a period that expires January 31 of the next calendar year.

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

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

(2) the law applicable to a domestic savings bank.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 92.405. Approval by Commissioner of Plan - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-92-405/

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