Sec. 92.606. COMPANY AGREEMENT OF LIMITED SAVINGS BANK. (a) A limited savings bank shall adopt a company agreement that contains provisions regulating the management and organization of the limited savings bank. The agreement is subject to the approval of the commissioner and must contain provisions the finance commission may require by a rule adopted under this subchapter.
(b) At the option of the limited savings bank, the term "bylaws" may be substituted for the term "company agreement."
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