Texas Statutes
Subchapter I. Additional Provisions for Merger or Consolidation of Foreign and Domestic Savings Banks
Section 92.407. Merger of Foreign Savings and Loan Association

Sec. 92.407. MERGER OF FOREIGN SAVINGS AND LOAN ASSOCIATION. (a) A foreign savings and loan association may merge with a domestic savings bank under this subchapter as if the foreign savings and loan association were a foreign savings bank.
(b) If the surviving institution is the foreign savings and loan association, the commissioner shall issue and deliver to the foreign savings and loan association a certificate of authority under Section 92.405 to do business in this state.
(c) In this section, "foreign savings and loan association" means a savings and loan association:
(1) whose principal office is located outside this state; and
(2) that was organized under the law of another state or the law of the United States.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

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