Texas § 62.002 ADDITIONAL INCORPORATION REQUIREMENTS FOR CAPITAL STOCK ASSOCIATION.

Texas Statutes

§ 62.002 — ADDITIONAL INCORPORATION REQUIREMENTS FOR CAPITAL STOCK ASSOCIATION.

Texas § 62.002

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This text of Texas § 62.002 (ADDITIONAL INCORPORATION REQUIREMENTS FOR CAPITAL STOCK ASSOCIATION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 62.002 (2026).

Text

Sec. 62.002. ADDITIONAL INCORPORATION REQUIREMENTS FOR CAPITAL STOCK ASSOCIATION.

(a)A capital stock association's articles of incorporation must include a statement of:

(1)the aggregate number of shares of common stock that the association may issue;

(2)the par value of each share or that the shares are without par value;

(3)whether the association may issue preferred stock;

(4)the amount of stock that has been subscribed and will be paid for before the association begins business;

(5)the name and address of each subscriber and the amount subscribed by each; and

(6)the amount of paid-in surplus with which the association will begin business.

(b)Before approving the application of a capital stock association, the commissioner may require the association to have an aggregate amount

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Sec. 62.002. ADDITIONAL INCORPORATION REQUIREMENTS FOR CAPITAL STOCK ASSOCIATION. (a) A capital stock association's articles of incorporation must include a statement of:
(1) the aggregate number of shares of common stock that the association may issue;
(2) the par value of each share or that the shares are without par value;
(3) whether the association may issue preferred stock;
(4) the amount of stock that has been subscribed and will be paid for before the association begins business;
(5) the name and address of each subscriber and the amount subscribed by each; and
(6) the amount of paid-in surplus with which the association will begin business.
(b) Before approving the application of a capital stock association, the commissioner may require the association to have an aggregate amount of capital in the form of stock and paid-in surplus that the finance commission by rule specifies.
(c) The subscriptions for capital stock and paid-in surplus, less lawful expenditures, shall be returned pro rata to the subscribers if:
(1) the application is not approved; or
(2) the association does not begin business.