Sec. 92.257. EFFECT OF ISSUANCE OF CHARTER. On the issuance of a charter by the appropriate banking agency, the savings bank:
(1) ceases to be a savings bank incorporated under this subtitle; and
(2) is not subject to the supervision and control of the commissioner under 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 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