Sec. 92.302. ELECTION OF DIRECTORS; EXECUTION AND ACKNOWLEDGMENT OF APPLICATION AND BYLAWS. (a) At the meeting under Section 92.301(a), the members or shareholders shall elect directors of the savings bank.
(b) The directors, or the president and secretary, shall execute two copies of an application for certificate of incorporation as provided by Subchapter B.
(c) Each director, or the president and secretary, shall sign and acknowledge the application for certificate of incorporation as a subscriber and shall sign and acknowledge the bylaws as an incorporator.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.13, eff. September 1, 2005.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 92 - Organizational and Financial Requirements
Subchapter G. Conversion of Other Financial Institution to Savings Bank
Section 92.301. Application to Convert
Section 92.302. Election of Directors; Execution and Acknowledgment of Application and Bylaws
Section 92.303. Review by Commissioner; Approval
Section 92.304. Hearing on Denial; Appeal
Section 92.305. Continuation of Corporate Existence
Section 92.306. Property and Obligations of Converted Institution
Section 92.307. Effect of Conversion on Pending Legal Action