Sec. 92.253. ACTION BY COMMISSIONER ON APPLICATION. Not later than the 10th day after the date an application to convert is received, the commissioner shall:
(1) consent by written order to the conversion; or
(2) set a hearing on whether the conversion complies with rules adopted under Section 92.251.
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 F. Conversion of Savings Bank to Other Financial Institution
Section 92.251. Conditions for Conversion
Section 92.252. Application for Conversion
Section 92.253. Action by Commissioner on Application
Section 92.254. Hearing on Application
Section 92.255. Consummation of Conversion
Section 92.256. Filing of Charter or Certificate
Section 92.257. Effect of Issuance of Charter
Section 92.258. Continuation of Corporate Existence
Section 92.259. Property and Obligations of Converted Savings Bank