Review By Commissioner; Approval

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)." Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.