Sec. 122.008. EFFECT OF ISSUANCE OF CERTIFICATE OF INCORPORATION. (a) A credit union's existence begins when the commissioner issues the certificate of incorporation.
(b) The certificate of incorporation is conclusive evidence that the incorporators have complied with this subtitle and that the credit union is incorporated under this chapter.
(c) Acceptance of a certificate of incorporation by the credit union is conclusive evidence that the credit union is authorized to do business under this subtitle.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 4, eff. September 1, 2013.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 122 - Organizational and Financial Requirements
Subchapter A. Incorporation Requirements
Section 122.001. Application to Incorporate
Section 122.002. Standard Articles of Incorporation and Bylaws
Section 122.003. Corporate Name; Criminal Penalty
Section 122.004. Investigation by Commissioner
Section 122.005. Procedure for Certain Approvals
Section 122.006. Decision on Application to Incorporate; Issuance of Certificate
Section 122.007. Appeal to Commission
Section 122.008. Effect of Issuance of Certificate of Incorporation
Section 122.009. Requirements for Commencing Business
Section 122.010. Deadline for Commencing Business
Section 122.011. Amendment of Articles of Incorporation or Bylaws
Section 122.012. Place of Business
Section 122.013. Foreign Credit Unions