Sec. 92.604. MANAGERS OF LIMITED SAVINGS BANK. (a) Management of a limited savings bank shall be exercised by a board of managers consisting of not fewer than five or more than 21 persons.
(b) A manager must meet the qualifications for a director under Section 92.153.
(c) The governing documents of a limited savings bank may use "director" instead of "manager" and "board" instead of "board of managers."
Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.15, eff. September 1, 2005.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 92 - Organizational and Financial Requirements
Subchapter M. Limited Savings Bank
Section 92.601. Application to Organize
Section 92.602. Liability of Members and Managers
Section 92.604. Managers of Limited Savings Bank
Section 92.605. Withdrawal or Reduction of Member's Contribution
Section 92.606. Company Agreement of Limited Savings Bank
Section 92.608. Allocation of Profits and Losses
Section 92.610. Amendment of Governing Documents
Section 92.611. Application of Other Provisions to Limited Savings Banks; Miscellaneous Provisions