Sec. 92.305. CONTINUATION OF CORPORATE EXISTENCE. After another financial institution is converted to a savings bank:
(1) the corporate existence of the financial institution continues; and
(2) the savings bank is considered to be a continuation of the financial institution that was converted.
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 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