Texas § 92.405 APPROVAL BY COMMISSIONER OF PLAN.

Texas Statutes

§ 92.405 — APPROVAL BY COMMISSIONER OF PLAN.

Texas § 92.405

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 92.405 (2026).

Text

Sec. 92.405. APPROVAL BY COMMISSIONER OF PLAN.

(a)If the commissioner approves the plan of merger or consolidation, the commissioner shall issue an order approving the merger or consolidation.

(b)If the surviving savings bank is a foreign savings bank, the commissioner shall issue and deliver to the surviving savings bank a certificate of authority to do business as a savings bank in this state for a period that expires January 31 of the next calendar year.

(c)A surviving savings bank that is a domestic savings bank shall operate under:

(1)the articles and bylaws of the merging or consolidating domestic savings bank; and

(2)the law applicable to a domestic savings bank.

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Sec. 92.405. APPROVAL BY COMMISSIONER OF PLAN. (a) If the commissioner approves the plan of merger or consolidation, the commissioner shall issue an order approving the merger or consolidation.
(b) If the surviving savings bank is a foreign savings bank, the commissioner shall issue and deliver to the surviving savings bank a certificate of authority to do business as a savings bank in this state for a period that expires January 31 of the next calendar year.
(c) A surviving savings bank that is a domestic savings bank shall operate under:
(1) the articles and bylaws of the merging or consolidating domestic savings bank; and
(2) the law applicable to a domestic savings bank.