Texas § 92.208 COMMON STOCK.

Texas Statutes

§ 92.208 — COMMON STOCK.

Texas § 92.208

Code FIFinance Code

This text of Texas § 92.208 (COMMON STOCK.) 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. § 92.208 (2026).

Text

Sec. 92.208. COMMON STOCK.

(a)A savings bank may not issue common stock before the common stock is fully paid for in cash.

(b)A savings bank may not make a loan against the shares of its outstanding common stock.

(c)A savings bank may not purchase, directly or indirectly, its own issued common stock, except under a stock repurchase plan approved in advance by the commissioner.

(d)A savings bank may not retire or redeem common stock until:

(1)all liabilities of the savings bank are satisfied, including all amounts due to holders of deposit accounts, unless:

(A)prior written permission is obtained from the commissioner; and

(B)the retirement or redemption is authorized by a majority vote of the savings bank's shareholders at an annual meeting or a special meeting called for that purpo

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Sec. 92.208. COMMON STOCK. (a) A savings bank may not issue common stock before the common stock is fully paid for in cash.
(b) A savings bank may not make a loan against the shares of its outstanding common stock.
(c) A savings bank may not purchase, directly or indirectly, its own issued common stock, except under a stock repurchase plan approved in advance by the commissioner.
(d) A savings bank may not retire or redeem common stock until:
(1) all liabilities of the savings bank are satisfied, including all amounts due to holders of deposit accounts, unless:
(A) prior written permission is obtained from the commissioner; and
(B) the retirement or redemption is authorized by a majority vote of the savings bank's shareholders at an annual meeting or a special meeting called for that purpose;
(2) the basis of the retirement or redemption is approved by the commissioner; and
(3) the savings bank files written consent of the Federal Deposit Insurance Corporation with the commissioner.
(e) Subsections (b) and (c) apply to the securities of the savings bank's holding company and affiliates.

Legislative History

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955 ), Sec. 5.09, eff. September 1, 2005.