Texas § 62.253 REVIEW BY COMMISSIONER; APPROVAL.

Texas Statutes

§ 62.253 — REVIEW BY COMMISSIONER; APPROVAL.

Texas § 62.253

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 62.253 (2026).

Text

Sec. 62.253. REVIEW BY COMMISSIONER; APPROVAL.

(a)On receipt of an application, the commissioner shall order an examination of the entity to be converted.

(b)If the commissioner finds the entity is in sound condition, the commissioner shall:

(1)approve the conversion; and

(2)insert in the certificate of incorporation, at the end of the paragraph preceding the testimonium clause, the statement "This association is incorporated by conversion from __________ (a federal savings and loan association, state bank, or national bank, as applicable)."

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Sec. 62.253. REVIEW BY COMMISSIONER; APPROVAL. (a) On receipt of an application, the commissioner shall order an examination of the entity to be converted.
(b) If the commissioner finds the entity is in sound condition, the commissioner shall:
(1) approve the conversion; and
(2) insert in the certificate of incorporation, at the end of the paragraph preceding the testimonium clause, the statement "This association is incorporated by conversion from __________ (a federal savings and loan association, state bank, or national bank, as applicable)."