Texas Statutes
Subchapter L. Change of Control of Savings Bank
Section 92.557. Notice of Intent to Deny; Hearing

Sec. 92.557. NOTICE OF INTENT TO DENY; HEARING. (a) Not later than the 60th day after the date the application is filed, the commissioner shall:
(1) approve the application without a hearing; or
(2) notify the transferee in writing that the commissioner intends to deny the application and state the grounds for denial.
(b) Not later than the 30th day after the date notice of intent to deny is mailed to the transferee, the transferee may file a written request for a hearing on the application.
(c) The commissioner may immediately enter a final and nonappealable order denying the application if a hearing is not timely requested.
(d) If a hearing is to be held, the commissioner shall issue public notice of the application and shall give any interested person an opportunity to appear, present evidence, and be heard for or against the application. A hearing officer designated by the commissioner shall hold the hearing.
(e) After the hearing, the commissioner shall enter a final order approving or denying the application.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

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