reglab/housing_qa huggingface dataset:
TX Fin Code § 92.303 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter G. Conversion of Other Financial Institution to Savings Bank|Section 92.303. Review by Commissioner; Approval

Sec. 92.303.  REVIEW BY COMMISSIONER;  APPROVAL.  (a)  On receipt of the application, the commissioner shall conduct an examination of the financial institution seeking conversion.(b)  After the examination, the commissioner shall approve the conversion without a hearing if the commissioner determines that the converting financial institution is in sound condition and meets all requirements of Subchapter B and relevant rules of the finance commission.(c)  On approval of the conversion, the incorporators shall insert a paragraph preceding the testimonium clause in the certificate of incorporation stating that the savings bank is incorporated by conversion from another financial institution.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 47, eff. Sept. 1, 2001.|
TX Fin Code § 92.304 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter G. Conversion of Other Financial Institution to Savings Bank|Section 92.304. Hearing on Denial; Appeal

Sec. 92.304.  HEARING ON DENIAL;  APPEAL.  (a)  An applicant is entitled to a hearing under Chapter 2001, Government Code, if:(1)  the commissioner denies an application to convert;  and(2)  a written request for a hearing is delivered to the commissioner not later than the 10th day after the date the application is denied.(b)  A hearing officer designated by the commissioner shall hold the hearing.(c)  The commissioner shall enter a final order approving or denying the application not later than the 30th day after the date the hearing is completed.(d)  An applicant may appeal a final order with the commissioner named as defendant.  The commissioner is not required to file an appeal bond in a cause arising under this section.  Filing an appeal under this section does not stay an order of the commissioner.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.305 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter G. Conversion of Other Financial Institution to Savings Bank|Section 92.305. Continuation of Corporate Existence

Sec. 92.305.  CONTINUATION OF CORPORATE EXISTENCE.  After another financial institution is converted to a savings bank:(1)  the corporate existence of the financial institution continues;  and(2)  the savings bank is considered to be a continuation of the financial institution that was converted.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.306 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter G. Conversion of Other Financial Institution to Savings Bank|Section 92.306. Property and Obligations of Converted Institution

Sec. 92.306.  PROPERTY AND OBLIGATIONS OF CONVERTED INSTITUTION.  (a)  The property of another financial institution that converts to a savings bank vests in the savings bank.(b)  The savings bank:(1)  holds the property in its own right to the extent the property was held by the financial institution that was converted;  and(2)  on the date the conversion takes effect, succeeds to the rights, obligations, and relations of the financial institution that was converted.(c)  In this section, the property of a financial institution includes each right, title, or interest of the institution in and to property, including things in action, and each right, privilege, interest, or asset of the institution that exists or that inures to the benefit of the institution.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.307 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter G. Conversion of Other Financial Institution to Savings Bank|Section 92.307. Effect of Conversion on Pending Legal Action

Sec. 92.307.  EFFECT OF CONVERSION ON PENDING LEGAL ACTION.  (a)  A judicial proceeding to which the financial institution that converted is a party is not abated or discontinued by reason of the conversion and may be prosecuted to final judgment, order, or decree as if the conversion had not occurred.(b)  The savings bank may continue a judicial proceeding in its own corporate name.  A judgment, order, or decree that might have been rendered for or against the financial institution that converted may be rendered for or against the savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.308 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter G. Conversion of Other Financial Institution to Savings Bank|Section 92.308. Local Filing of Conversion Order Required

Sec. 92.308.  LOCAL FILING OF CONVERSION ORDER REQUIRED.  The savings bank shall file a copy of the order of conversion in each county in which the financial institution that converted owned real property at the time the conversion took effect.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.351 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter H. Reorganization, Merger, and Consolidation in General|Section 92.351. Authority to Reorganize, Merge, or Consolidate

Sec. 92.351.  AUTHORITY TO REORGANIZE, MERGE, OR CONSOLIDATE.  (a)  A savings bank may reorganize, merge, or consolidate with a corporation, another financial institution, or another entity under a plan adopted by the board.(b)  The plan must be approved:(1)  at an annual meeting or a special meeting called to consider the action by a majority of the total vote the members or shareholders are entitled to cast;  and(2)  by the commissioner.(c)  A shareholder of a capital stock savings bank has the same dissenter's rights as a shareholder of a domestic corporation under the Texas Business Corporation Act.(d)  A reorganization, merger, or consolidation is subject to Section 16, Article XVI, Texas Constitution.  A merger or consolidation of a domestic savings bank with a foreign savings bank is also subject to Subchapter I.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.14, eff. September 1, 2005.|
TX Fin Code § 92.352 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter H. Reorganization, Merger, and Consolidation in General|Section 92.352. Notice and Hearing; Confidentiality

Sec. 92.352.  NOTICE AND HEARING;  CONFIDENTIALITY.  (a)  On receiving a plan of reorganization, merger, or consolidation, the commissioner shall give:(1)  public notice of the reorganization, merger, or consolidation in each county in which a financial institution participating in the plan has an office;  and(2)  any interested person an opportunity to appear, present evidence, and be heard for or against the plan.(b)  A hearing officer designated by the commissioner shall hold the hearing.(c)  If a protest is not received on or before the date of the hearing, the commissioner or hearing officer may waive the hearing.(d)  Except as provided by Subsection (e), the provisions of Chapter 2001, Government Code, applicable to a contested case apply to the hearing.(e)  If the commissioner designates a merger as a supervisory merger under rules adopted by the finance commission:(1)  the notice and hearing provisions of Chapter 2001, Government Code, and of this section do not apply to the application;  and(2)  the application and all information relating to the application are confidential and not subject to public disclosure.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.353 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter H. Reorganization, Merger, and Consolidation in General|Section 92.353. Denial by Commissioner of Plan

Sec. 92.353.  DENIAL BY COMMISSIONER OF PLAN.  The commissioner shall issue an order denying the plan if:(1)  the reorganization, merger, or consolidation would substantially lessen competition or restrain trade and would result in a monopoly or further a combination or conspiracy to monopolize or attempt to monopolize the financial industry in any part of the state, unless the anticompetitive effects of the reorganization, merger, or consolidation are clearly outweighed in the public interest by the probable effect of the reorganization, merger, or consolidation in meeting the convenience and needs of the community to be served;(2)  the plan is not in the best interest of the financial institutions that are parties to the plan;(3)  the experience, ability, standing, competence, trustworthiness, or integrity of the management of the financial institutions proposing the plan is such that the reorganization, merger, or consolidation would not be in the best interest of the financial institutions that are parties to the plan;(4)  after reorganization, merger, or consolidation, the surviving financial institution would not:(A)  be solvent;(B)  have adequate capital structure;  or(C)  be in compliance with the law of this state;(5)  the financial institutions proposing the plan have not furnished all the information pertinent to the application that is reasonably requested by the commissioner;  or(6)  the financial institutions proposing the plan are not acting in good faith.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.354 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter H. Reorganization, Merger, and Consolidation in General|Section 92.354. Alternative or Additional Procedures

Sec. 92.354.  ALTERNATIVE OR ADDITIONAL PROCEDURES.  If the surviving financial institution is an entity other than a savings bank, the commissioner may accept, in addition to or instead of the requirements of this subchapter, the procedures and decision of the appropriate banking agency with jurisdiction over the surviving financial institution.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.355 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter H. Reorganization, Merger, and Consolidation in General|Section 92.355. Continuation of Corporate Existence; Home Office of Surviving Entity

Sec. 92.355.  CONTINUATION OF CORPORATE EXISTENCE;  HOME OFFICE OF SURVIVING ENTITY.  (a)  An entity that results from a reorganization, merger, or consolidation as provided by Section 92.351 has the property rights and obligations of the reorganized, merged, or consolidated entity in the same manner as an entity that results from the conversion of a savings bank under this chapter has the property rights and obligations of the savings bank.(b)  The home office of the surviving financial institution is the home office of the financial institution in the merger that has the largest assets unless the commissioner approves a different home office.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.401 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Foreign and Domestic Savings Banks|Section 92.401. Applicability of Subchapter

Sec. 92.401.  APPLICABILITY OF SUBCHAPTER.  (a)  Except as provided by Section 92.407, this subchapter applies only to the merger or consolidation of a domestic savings bank with a foreign savings bank.(b)  The requirements of and authority and duties provided by this subchapter are in addition to those provided by Subchapter H.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.402 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Foreign and Domestic Savings Banks|Section 92.402. Adoption of Merger or Consolidation Plan

Sec. 92.402.  ADOPTION OF MERGER OR CONSOLIDATION PLAN.  The board of the foreign savings bank must adopt the merger or consolidation plan.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.403 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Foreign and Domestic Savings Banks|Section 92.403. Notice and Hearing; Confidentiality

Sec. 92.403.  NOTICE AND HEARING;  CONFIDENTIALITY.  If the commissioner considers the domestic savings bank to be in an unsafe condition:(1)  the provisions of Chapter 2001, Government Code, applicable to a contested case do not apply to the application;  and(2)  the application and all information related to the application are confidential and not subject to public disclosure.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.404 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Foreign and Domestic Savings Banks|Section 92.404. Denial by Commissioner of Application

Sec. 92.404.  DENIAL BY COMMISSIONER OF APPLICATION.  If the surviving savings bank is a foreign savings bank, the commissioner shall deny the application if:(1)  the law of the state in which the foreign savings bank has its principal place of business does not permit a savings bank of that state to merge or consolidate with a domestic savings bank if the surviving savings bank is a domestic savings bank;  or(2)  the foreign savings bank is controlled by a holding company that has its principal place of business in a state whose law does not permit a savings bank of that state to merge or consolidate with a domestic savings bank if the surviving savings bank is a domestic savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.405 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Foreign and Domestic Savings Banks|Section 92.405. Approval by Commissioner of Plan

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.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.406 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Foreign and Domestic Savings Banks|Section 92.406. Enforcement of Condition, Restriction, or Requirement on Surviving Foreign Savings Bank

Sec. 92.406.  ENFORCEMENT OF CONDITION, RESTRICTION, OR REQUIREMENT ON SURVIVING FOREIGN SAVINGS BANK.  If the surviving savings bank is a foreign savings bank, the commissioner may enforce a condition, restriction, or requirement on the surviving savings bank that could have been enforced by the state in which the foreign savings bank has its principal place of business if the merger or consolidation had occurred in that state and the surviving savings bank were a domestic savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.407 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Foreign and Domestic Savings Banks|Section 92.407. Merger of Foreign Savings and Loan Association

Sec. 92.407.  MERGER OF FOREIGN SAVINGS AND LOAN ASSOCIATION.  (a)  A foreign savings and loan association may merge with a domestic savings bank under this subchapter as if the foreign savings and loan association were a foreign savings bank.(b)  If the surviving institution is the foreign savings and loan association, the commissioner shall issue and deliver to the foreign savings and loan association a certificate of authority under Section 92.405 to do business in this state.(c)  In this section, "foreign savings and loan association" means a savings and loan association:(1)  whose principal office is located outside this state;  and(2)  that was organized under the law of another state or the law of the United States.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.451 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter J. Merger of Subsidiary Corporation|Section 92.451. Authority to Merge

Sec. 92.451.  AUTHORITY TO MERGE.  One or more corporations organized under the law of this state may merge into a savings bank that owns all the corporations' capital stock if:(1)  the board of the savings bank and each corporation by majority vote adopt a plan of merger;  and(2)  the secretary of state and the commissioner approve the merger.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.452 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter J. Merger of Subsidiary Corporation|Section 92.452. Articles of Merger

Sec. 92.452.  ARTICLES OF MERGER.  (a)  The articles of merger must:(1)  be executed by the president or vice president and a secretary or assistant secretary of the savings bank and each corporation;  and(2)  include:(A)  the name of the savings bank and each corporation;(B)  a copy of the resolution of the savings bank and each corporation adopting the plan of merger;(C)  a statement of the number of shares of each class issued or authorized by each corporation;(D)  a statement that all capital stock of each corporation is owned by the savings bank;  and(E)  a statement incorporating the provisions of Section 92.454(b).(b)  The original and a copy of the articles of merger must be submitted to the secretary of state and the commissioner.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.453 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter J. Merger of Subsidiary Corporation|Section 92.453. Approval of Merger

Sec. 92.453.  APPROVAL OF MERGER.  (a)  The secretary of state shall approve the articles of merger if the secretary of state determines that:(1)  the articles of merger comply with applicable law;  and(2)  all fees and franchise taxes due from each corporation have been paid.(b)  The commissioner shall approve the articles of merger if the commissioner determines that:(1)  the articles of merger comply with applicable law;  and(2)  the merger is in the best interest of the savings bank.(c)  On approval of the articles of merger, each approving officer shall:(1)  endorse on the original and a copy of the articles of merger the word "filed" and the date of the approval;(2)  file the original and a copy of the articles of merger in the records of the officer's office;  and(3)  issue and deliver to the savings bank a certificate of merger with an attached copy of the articles of merger.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.454 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter J. Merger of Subsidiary Corporation|Section 92.454. Effect of Merger

Sec. 92.454.  EFFECT OF MERGER.  (a)  A merger takes effect on the date the last required certificate of merger is issued.(b)  After the merger takes effect:(1)  a corporation that was merged ceases to exist;(2)  the savings bank assumes the rights and obligations of the corporation and owns the property of the corporation;  and(3)  the savings bank's articles of incorporation are considered amended to the extent that a change is stated in the plan of merger.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.455 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter J. Merger of Subsidiary Corporation|Section 92.455. Inapplicability of Subchapter H

Sec. 92.455.  INAPPLICABILITY OF SUBCHAPTER H.  Subchapter H does not apply to a merger under this subchapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.501 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter K. Voluntary Liquidation|Section 92.501. Resolution to Liquidate and Dissolve

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 discharge of its liabilities.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|