Texas Statutes
§ 92.501 — RESOLUTION TO LIQUIDATE AND DISSOLVE.
Texas § 92.501
JurisdictionTexas
Code FIFinance Code
This text of Texas § 92.501 (RESOLUTION TO LIQUIDATE AND DISSOLVE.) 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. § 92.501 (2026).
Text
Sec. 92.501. RESOLUTION TO LIQUIDATE AND DISSOLVE.
(a)A savings bank may liquidate and dissolve if:
(1)at an annual meeting or a special meeting called for the purpose, the members or shareholders by majority vote adopt a resolution to liquidate and dissolve; and
(2)a copy of the resolution certified by the president and secretary of the savings bank and an itemized statement of the savings bank's assets and liabilities sworn to by a majority of its board is filed with and approved by the commissioner.
(b)After the commissioner approves the resolution:
(1)the savings bank may not accept additional deposit accounts or additions to deposit accounts or make additional loans; and
(2)the savings bank's income and receipts in excess of actual expenses of liquidation shall be applied to the
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Legislative History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Nearby Sections
15
§ 92.001
APPLICABILITY OF OTHER LAW.§ 92.051
APPLICATION TO INCORPORATE.§ 92.054
MINIMUM INITIAL CAPITAL.§ 92.055
APPROVAL OF MANAGING OFFICER.§ 92.056
CORPORATE NAME.§ 92.059
JUDICIAL REVIEW.§ 92.060
PREFERENCE FOR LOCAL CONTROL.§ 92.101
PURPOSE OF INCORPORATION.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 92.501, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/FI/92.501.