Sec. 62.201. CONDITIONS FOR CONVERSION. (a) The finance commission by rule shall establish the conditions under which an association may convert to a federal association under Section 5, Home Owners' Loan Act (12 U.S.C. Section 1464), and its subsequent amendments.
(b) The conditions must ensure that the conversion will not cause undue harm to the public interest or another existing association.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle B - Savings and Loan Associations
Chapter 62 - Organizational and Financial Requirements
Subchapter E. Conversion to Federal Association
Section 62.201. Conditions for Conversion
Section 62.202. Application to Convert
Section 62.203. Review by Commissioner; Approval
Section 62.204. Hearing on Application
Section 62.205. Consummation of Conversion
Section 62.206. Filing of Charter or Certificate
Section 62.207. Effect of Issuance of Charter
Section 62.208. Continuation of Corporate Existence
Section 62.209. Property and Obligations of Converted Association