Sec. 62.252. ELECTION OF DIRECTORS; EXECUTION AND ACKNOWLEDGMENT OF APPLICATION AND BYLAWS. (a) At the meeting under Section 62.251(a), the members or shareholders shall elect the directors of the association.
(b) The directors shall execute two copies of the application required by Section 62.251.
(c) Each director of the association shall sign and acknowledge the application as a subscriber and the proposed bylaws as an incorporator.
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 F. Conversion of Federal Association or State or National Bank to State Association
Section 62.251. Application to Convert
Section 62.252. Election of Directors; Execution and Acknowledgment of Application and Bylaws
Section 62.253. Review by Commissioner; Approval
Section 62.254. Applicability of Subtitle to Converted Association