Sec. 62.451. AUTHORITY TO MERGE. One or more corporations organized under a law of this state may merge into an association that owns all of the corporations' capital stock if:
(1) the board of directors of the association and each corporation by a majority vote adopt the plan of merger; and
(2) the secretary of state and the commissioner approve the merger.
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 J. Merger of Subsidiary Corporation
Section 62.451. Authority to Merge
Section 62.452. Articles of Merger
Section 62.453. Approval of Merger