Sec. 92.061. DEADLINE FOR COMMENCING BUSINESS. (a) A savings bank shall begin business not later than the first anniversary of the date the commissioner approves the savings bank's application.
(b) On the request of the incorporators and for good cause shown, the commissioner may grant a reasonable extension of the deadline prescribed by Subsection (a).
(c) The commissioner may rescind the authority to operate of a savings bank that does not begin business as required by this subtitle.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 92 - Organizational and Financial Requirements
Subchapter B. Incorporation in General
Section 92.051. Application to Incorporate
Section 92.052. Additional Requirements for Capital Stock Savings Bank
Section 92.053. Additional Requirements for Mutual Savings Bank
Section 92.054. Minimum Initial Capital
Section 92.055. Approval of Managing Officer
Section 92.056. Corporate Name
Section 92.057. Hearing on Application to Incorporate
Section 92.058. Decision on Application to Incorporate; Issuance of Certificate of Incorporation
Section 92.059. Judicial Review
Section 92.060. Preference for Local Control
Section 92.061. Deadline for Commencing Business
Section 92.062. Amendment of Articles of Incorporation or Bylaws
Section 92.063. Change of Office or Name; Establishment of Additional Offices