Sec. 92.101. PURPOSE OF INCORPORATION. A person may apply to incorporate a savings bank for the purpose of: (1) purchasing the assets, assuming the liabilities other than liability to shareholders, and continuing the business of a financial institution the commissioner considers to be in an unsafe condition; (2) acquiring an existing financial institution by merger; or (3) facilitating a reorganization or merger with or into a savings bank under rules adopted by the finance commission. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.04, eff. September 1, 2005.
Purpose of Incorporation
Tex. Finance Code § 92.101, under Organizational and Financial Requirements.
Tex. Finance Code § 92.101