Texas Statutes
Subtitle B - Savings and Loan Associations
Chapter 62 - Organizational and Financial Requirements

Section 62.001. Application to Incorporate - Sec. 62.001. APPLICATION TO INCORPORATE. (a) Five or more residents...

Section 62.002. Additional Incorporation Requirements for Capital Stock Association - Sec. 62.002. ADDITIONAL INCORPORATION REQUIREMENTS FOR CAPITAL STOCK ASSOCIATION. (a)...

Section 62.003. Additional Incorporation Requirements for Mutual Association - Sec. 62.003. ADDITIONAL INCORPORATION REQUIREMENTS FOR MUTUAL ASSOCIATION. (a) A...

Section 62.004. Approval of Managing Officer - Sec. 62.004. APPROVAL OF MANAGING OFFICER. (a) An association may...

Section 62.005. Corporate Name - Sec. 62.005. CORPORATE NAME. (a) The name of an association...

Section 62.006. Hearing on Application to Incorporate - Sec. 62.006. HEARING ON APPLICATION TO INCORPORATE. (a) On the...

Section 62.007. Decision on Application to Incorporate; Issuance of Certificate of Incorporation - Sec. 62.007. DECISION ON APPLICATION TO INCORPORATE; ISSUANCE OF CERTIFICATE...

Section 62.008. Preference for Local Control - Sec. 62.008. PREFERENCE FOR LOCAL CONTROL. If an application to...

Section 62.009. Deadline for Commencing Business - Sec. 62.009. DEADLINE FOR COMMENCING BUSINESS. (a) An association shall...

Section 62.010. Amendment of Articles of Incorporation or Bylaws - Sec. 62.010. AMENDMENT OF ARTICLES OF INCORPORATION OR BYLAWS. (a)...

Section 62.011. Change of Office or Name - Sec. 62.011. CHANGE OF OFFICE OR NAME. (a) Only with...

Subchapter B. Incorporation to Reorganize or Merge

Section 62.051. Purpose of Incorporation - Sec. 62.051. PURPOSE OF INCORPORATION. A person may apply to...

Section 62.052. Incorporation Requirements - Sec. 62.052. INCORPORATION REQUIREMENTS. (a) An application to incorporate an...

Section 62.053. Decision on Application; Issuance of Certificate of Incorporation - Sec. 62.053. DECISION ON APPLICATION; ISSUANCE OF CERTIFICATE OF INCORPORATION....

Subchapter C. Administration

Section 62.101. Organizational Meeting - Sec. 62.101. ORGANIZATIONAL MEETING. (a) Not later than the 30th...

Section 62.102. Board of Directors - Sec. 62.102. BOARD OF DIRECTORS. (a) A board of not...

Section 62.104. Officers - Sec. 62.104. OFFICERS. (a) The officers of an association are:...

Section 62.105. Indemnity Bonds of Directors, Officers, and Employees - Sec. 62.105. INDEMNITY BONDS OF DIRECTORS, OFFICERS, AND EMPLOYEES. (a)...

Section 62.106. Meetings of Members and Shareholders - Sec. 62.106. MEETINGS OF MEMBERS AND SHAREHOLDERS. (a) The annual...

Section 62.107. Voting Rights - Sec. 62.107. VOTING RIGHTS. (a) The bylaws of an association...

Subchapter D. Operations and Finances

Section 62.151. Computation of Income; Statement of Condition - Sec. 62.151. COMPUTATION OF INCOME; STATEMENT OF CONDITION. (a) An...

Section 62.152. Minimum Net Worth Requirement - Sec. 62.152. MINIMUM NET WORTH REQUIREMENT. An association shall meet...

Section 62.153. Insurance of Savings Accounts - Sec. 62.153. INSURANCE OF SAVINGS ACCOUNTS. (a) An association may...

Section 62.154. Limitation on Issuance of Securities - Sec. 62.154. LIMITATION ON ISSUANCE OF SECURITIES. An association may...

Section 62.155. Common Stock - Sec. 62.155. COMMON STOCK. (a) An association may not issue...

Section 62.156. Preferred Stock - Sec. 62.156. PREFERRED STOCK. (a) An association may not issue...

Section 62.157. Series and Classes of Preferred Stock - Sec. 62.157. SERIES AND CLASSES OF PREFERRED STOCK. (a) The...

Section 62.158. Dividends on Capital Stock - Sec. 62.158. DIVIDENDS ON CAPITAL STOCK. The board of a...

Section 62.159. Use of Surplus Accounts and Expense Fund Contributions - Sec. 62.159. USE OF SURPLUS ACCOUNTS AND EXPENSE FUND CONTRIBUTIONS....

Section 62.160. Use of Expense Fund Contributions - Sec. 62.160. USE OF EXPENSE FUND CONTRIBUTIONS. (a) The expense...

Subchapter E. Conversion to Federal Association

Section 62.201. Conditions for Conversion - Sec. 62.201. CONDITIONS FOR CONVERSION. (a) The finance commission by...

Section 62.202. Application to Convert - Sec. 62.202. APPLICATION TO CONVERT. (a) An association may convert...

Section 62.203. Review by Commissioner; Approval - Sec. 62.203. REVIEW BY COMMISSIONER; APPROVAL. Not later than the...

Section 62.204. Hearing on Application - Sec. 62.204. HEARING ON APPLICATION. (a) A hearing set under...

Section 62.205. Consummation of Conversion - Sec. 62.205. CONSUMMATION OF CONVERSION. Within three months after the...

Section 62.206. Filing of Charter or Certificate - Sec. 62.206. FILING OF CHARTER OR CERTIFICATE. (a) The converted...

Section 62.207. Effect of Issuance of Charter - Sec. 62.207. EFFECT OF ISSUANCE OF CHARTER. On the issuance...

Section 62.208. Continuation of Corporate Existence - Sec. 62.208. CONTINUATION OF CORPORATE EXISTENCE. After an association is...

Section 62.209. Property and Obligations of Converted Association - Sec. 62.209. PROPERTY AND OBLIGATIONS OF CONVERTED ASSOCIATION. (a) The...

Subchapter F. Conversion of Federal Association or State or National Bank to State Association

Section 62.251. Application to Convert - Sec. 62.251. APPLICATION TO CONVERT. (a) A federal association or...

Section 62.252. Election of Directors; Execution and Acknowledgment of Application and Bylaws - Sec. 62.252. ELECTION OF DIRECTORS; EXECUTION AND ACKNOWLEDGMENT OF APPLICATION...

Section 62.253. Review by Commissioner; Approval - Sec. 62.253. REVIEW BY COMMISSIONER; APPROVAL. (a) On receipt of...

Section 62.254. Applicability of Subtitle to Converted Association - Sec. 62.254. APPLICABILITY OF SUBTITLE TO CONVERTED ASSOCIATION. (a) To...

Subchapter G. Conversion of Association to State or National Bank or State or Federal Savings Bank

Section 62.301. Application to Convert to State Savings Bank - Sec. 62.301. APPLICATION TO CONVERT TO STATE SAVINGS BANK. An...

Section 62.302. Application to Convert to State or National Bank or State or Federal Savings Bank - Sec. 62.302. APPLICATION TO CONVERT TO STATE OR NATIONAL BANK...

Section 62.303. Review by Commissioner; Approval - Sec. 62.303. REVIEW BY COMMISSIONER; APPROVAL. (a) The commissioner shall...

Section 62.304. Filing of Charter or Certificate - Sec. 62.304. FILING OF CHARTER OR CERTIFICATE. (a) The bank...

Section 62.305. Effect of Approval of Application and Issuance of Charter - Sec. 62.305. EFFECT OF APPROVAL OF APPLICATION AND ISSUANCE OF...

Section 62.306. Continuation of Corporate Existence - Sec. 62.306. CONTINUATION OF CORPORATE EXISTENCE. After an association is...

Section 62.307. Property and Obligations of Converted Association - Sec. 62.307. PROPERTY AND OBLIGATIONS OF CONVERTED ASSOCIATION. (a) The...

Subchapter H. Reorganization, Merger, and Consolidation

Section 62.351. Authority to Reorganize, Merge, or Consolidate - Sec. 62.351. AUTHORITY TO REORGANIZE, MERGE, OR CONSOLIDATE. (a) An...

Section 62.352. Continuation of Corporate Existence; Home Office of Surviving Entity - Sec. 62.352. CONTINUATION OF CORPORATE EXISTENCE; HOME OFFICE OF SURVIVING...

Section 62.353. Notice and Hearing; Confidentiality - Sec. 62.353. NOTICE AND HEARING; CONFIDENTIALITY. (a) On presentation of...

Section 62.354. Denial by Commissioner of Plan - Sec. 62.354. DENIAL BY COMMISSIONER OF PLAN. The commissioner shall...

Subchapter I. Additional Provisions for Merger or Consolidation of Domestic and Foreign Associations

Section 62.401. Applicability of Subchapter - Sec. 62.401. APPLICABILITY OF SUBCHAPTER. (a) This subchapter applies only...

Section 62.402. Adoption of Merger or Consolidation Plan - Sec. 62.402. ADOPTION OF MERGER OR CONSOLIDATION PLAN. The board...

Section 62.403. Notice and Hearing; Confidentiality - Sec. 62.403. NOTICE AND HEARING; CONFIDENTIALITY. If the commissioner considers...

Section 62.404. Denial by Commissioner of Application - Sec. 62.404. DENIAL BY COMMISSIONER OF APPLICATION. If the surviving...

Section 62.405. Approval by Commissioner of Plan - Sec. 62.405. APPROVAL BY COMMISSIONER OF PLAN. (a) If the...

Section 62.406. Enforcement of Condition, Restriction, or Requirement on Surviving Foreign Association - Sec. 62.406. ENFORCEMENT OF CONDITION, RESTRICTION, OR REQUIREMENT ON SURVIVING...

Subchapter J. Merger of Subsidiary Corporation

Section 62.451. Authority to Merge - Sec. 62.451. AUTHORITY TO MERGE. One or more corporations organized...

Section 62.452. Articles of Merger - Sec. 62.452. ARTICLES OF MERGER. (a) The articles of merger...

Section 62.453. Approval of Merger - Sec. 62.453. APPROVAL OF MERGER. (a) The secretary of state...

Section 62.454. Effect of Merger - Sec. 62.454. EFFECT OF MERGER. (a) A merger takes effect...

Section 62.455. Inapplicability of Subchapter H - Sec. 62.455. INAPPLICABILITY OF SUBCHAPTER H. Subchapter H does not...

Subchapter K. Voluntary Liquidation

Section 62.501. Resolution to Liquidate and Dissolve; Approval by Commissioner - Sec. 62.501. RESOLUTION TO LIQUIDATE AND DISSOLVE; APPROVAL BY COMMISSIONER....

Section 62.502. Distribution of Assets - Sec. 62.502. DISTRIBUTION OF ASSETS. (a) The board, under the...

Section 62.503. Final Report and Accounting - Sec. 62.503. FINAL REPORT AND ACCOUNTING. (a) On completion of...

Subchapter L. Change of Control of Association

Section 62.551. Inapplicability of Subchapter - Sec. 62.551. INAPPLICABILITY OF SUBCHAPTER. This subchapter does not apply...

Section 62.552. Effect of Subchapter on Other Law - Sec. 62.552. EFFECT OF SUBCHAPTER ON OTHER LAW. This subchapter...

Section 62.553. Application for Change of Control - Sec. 62.553. APPLICATION FOR CHANGE OF CONTROL. (a) Control of...

Section 62.554. Application Filing Fee - Sec. 62.554. APPLICATION FILING FEE. (a) The finance commission by...

Section 62.555. Denial of Application - Sec. 62.555. DENIAL OF APPLICATION. (a) The commissioner by order...

Section 62.556. Appeal to Commissioner of Denial - Sec. 62.556. APPEAL TO COMMISSIONER OF DENIAL. (a) If the...

Section 62.557. Judicial Review - Sec. 62.557. JUDICIAL REVIEW. (a) An applicant may appeal the...

Section 62.558. Unauthorized Change of Control - Sec. 62.558. UNAUTHORIZED CHANGE OF CONTROL. If it appears that...

Section 62.559. Confidentiality - Sec. 62.559. CONFIDENTIALITY. (a) Except as provided by this section,...

Section 62.560. Injunction - Sec. 62.560. INJUNCTION. (a) The attorney general on behalf of...

Section 62.561. Criminal Penalty - Sec. 62.561. CRIMINAL PENALTY. (a) A person commits an offense...

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Texas Statutes Subtitle B - Savings and Loan Associations Chapter 62 - Organizational and Financial Requirements

Texas Statutes
Subtitle B - Savings and Loan Associations
Chapter 62 - Organizational and Financial Requirements