Sec. 62.306. CONTINUATION OF CORPORATE EXISTENCE. After an association is converted to a bank or savings bank:
(1) the corporate existence of the association continues; and
(2) the bank or savings bank is considered to be a continuation of the association that was converted.
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 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
Section 62.302. Application to Convert to State or National Bank or State or Federal Savings Bank
Section 62.303. Review by Commissioner; Approval
Section 62.304. Filing of Charter or Certificate
Section 62.305. Effect of Approval of Application and Issuance of Charter
Section 62.306. Continuation of Corporate Existence
Section 62.307. Property and Obligations of Converted Association