reglab/housing_qa huggingface dataset:
TX Fin Code § 62.252 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter F. Conversion of Federal Association or State or National Bank to State Association|Section 62.252. Election of Directors; Execution and Acknowledgment of Application and Bylaws

Sec. 62.252.  ELECTION OF DIRECTORS;  EXECUTION AND ACKNOWLEDGMENT OF APPLICATION AND BYLAWS.  (a)  At the meeting under Section 62.251(a), the members or shareholders shall elect the directors of the association.(b)  The directors shall execute two copies of the application required by Section 62.251.(c)  Each director of the association shall sign and acknowledge the application as a subscriber and the proposed bylaws as an incorporator.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.253 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter F. Conversion of Federal Association or State or National Bank to State Association|Section 62.253. 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.|
TX Fin Code § 62.254 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter F. Conversion of Federal Association or State or National Bank to State Association|Section 62.254. Applicability of Subtitle to Converted Association

Sec. 62.254.  APPLICABILITY OF SUBTITLE TO CONVERTED ASSOCIATION.  (a)  To the extent applicable, this subtitle applies to an association incorporated under this subchapter.(b)  An association incorporated under this subchapter:(1)  is a continuation of the entity that was converted;  and(2)  has the property and rights of that entity.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.301 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter G. Conversion of Association to State or National Bank or State or Federal Savings Bank|Section 62.301. Application to Convert to State Savings Bank

Sec. 62.301.  APPLICATION TO CONVERT TO STATE SAVINGS BANK.  An association may apply to the commissioner to convert to a state savings bank by filing an application with the commissioner.  The application shall be processed under Subtitle C.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.302 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter G. Conversion of Association to State or National Bank or State or Federal Savings Bank|Section 62.302. Application to Convert to State or National Bank or State or Federal Savings Bank

Sec. 62.302.  APPLICATION TO CONVERT TO STATE OR NATIONAL BANK OR STATE OR FEDERAL SAVINGS BANK.  (a)  An association may convert to a state or national bank or state or federal savings bank if a resolution favoring the conversion is adopted by a majority vote of the members or shareholders of the association who are entitled to vote at an annual meeting or a special meeting called to consider the conversion.(b)  The application to convert must:(1)  be filed in the office of the commissioner not later than the 10th day after the date of the meeting;  and(2)  include a copy of the minutes of the meeting, sworn to by the secretary or an assistant secretary.(c)  The copy of the minutes filed under Subsection (b) is presumptive evidence that the meeting was held and the resolution was adopted.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.303 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter G. Conversion of Association to State or National Bank or State or Federal Savings Bank|Section 62.303. Review by Commissioner; Approval

Sec. 62.303.  REVIEW BY COMMISSIONER;  APPROVAL.  (a)  The commissioner shall approve the application if the commissioner determines that the association is in good standing.(b)  For purposes of Subsection (a), an association is in good standing if the association has paid all fees, assessments, and money due and payable to the Department of Savings and Mortgage Lending.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.027, eff. September 1, 2007.|
TX Fin Code § 62.304 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter G. Conversion of Association to State or National Bank or State or Federal Savings Bank|Section 62.304. Filing of Charter or Certificate

Sec. 62.304.  FILING OF CHARTER OR CERTIFICATE.  (a)  The bank or savings bank shall file with the commissioner:(1)  a copy of the charter issued to the bank or savings bank by the appropriate financial institution regulatory agency;  or(2)  a certificate showing the organization of the bank or savings bank as a financial institution, certified by the secretary or assistant secretary of the appropriate financial institution regulatory agency.(b)  Failure to file the charter or certificate with the commissioner does not affect the validity of the conversion.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.305 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter G. Conversion of Association to State or National Bank or State or Federal Savings Bank|Section 62.305. Effect of Approval of Application and Issuance of Charter

Sec. 62.305.  EFFECT OF APPROVAL OF APPLICATION AND ISSUANCE OF CHARTER.  On the commissioner's approval of the application for conversion and the appropriate financial institution regulatory agency's issuance of a charter, the bank or savings bank:(1)  ceases to be an association incorporated under this subtitle;  and(2)  is no longer subject to the supervision and control of the commissioner.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.306 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter G. Conversion of Association to State or National Bank or State or Federal Savings Bank|Section 62.306. Continuation of Corporate Existence

Sec. 62.306.  CONTINUATION OF CORPORATE EXISTENCE.  After an association is converted to a bank or savings bank:(1)  the corporate existence of the association continues;  and(2)  the bank or savings bank is considered to be a continuation of the association that was converted.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.307 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter G. Conversion of Association to State or National Bank or State or Federal Savings Bank|Section 62.307. Property and Obligations of Converted Association

Sec. 62.307.  PROPERTY AND OBLIGATIONS OF CONVERTED ASSOCIATION.  (a)  The property of an association converted to a bank or savings bank immediately by operation of law vests in the bank or savings bank.(b)  The bank or savings bank:(1)  holds the property in its own right to the extent it was held by the association that was converted;  and(2)  succeeds to the obligations and relations of the association that was converted on the date the conversion takes effect.(c)  A pending judicial proceeding to which the association that was 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.(d)  The bank or savings bank may continue a pending action in its own corporate name.  A judgment, order, or decree that might have been rendered for or against the association that was converted may be rendered for or against the bank or savings bank.(e)  In this section, "property" has the meaning assigned by Section 62.259(e).|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.351 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter H. Reorganization, Merger, and Consolidation|Section 62.351. Authority to Reorganize, Merge, or Consolidate

Sec. 62.351.  AUTHORITY TO REORGANIZE, MERGE, OR CONSOLIDATE.  (a)  An association may reorganize, merge, or consolidate with another association, federal association, foreign association, state or national bank, or state or federal savings bank 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 association has the same dissenter's rights as a shareholder of a domestic corporation under the Texas Business Corporation Act.(d)  A merger or consolidation of a domestic association with a foreign association is also subject to Subchapter I.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.352 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter H. Reorganization, Merger, and Consolidation|Section 62.352. Continuation of Corporate Existence; Home Office of Surviving Entity

Sec. 62.352.  CONTINUATION OF CORPORATE EXISTENCE;  HOME OFFICE OF SURVIVING ENTITY.  (a)  An entity that results from a reorganization, merger, or consolidation as provided by Section 62.351 has the same incidents as the reorganized, merged, or consolidated entity in the same manner as an entity that has converted under this chapter has the same incidents as the converting entity.(b)  The home office of the association in the proposed merger that possesses the largest assets is the home office of the surviving entity unless the commissioner approves otherwise.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.353 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter H. Reorganization, Merger, and Consolidation|Section 62.353. Notice and Hearing; Confidentiality

Sec. 62.353.  NOTICE AND HEARING;  CONFIDENTIALITY.  (a)  On presentation of 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 an association 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 preside over 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 § 62.354 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter H. Reorganization, Merger, and Consolidation|Section 62.354. Denial by Commissioner of Plan

Sec. 62.354.  DENIAL BY COMMISSIONER OF PLAN.  The commissioner shall issue an order denying the plan if the commissioner finds that:(1)  the reorganization, merger, or consolidation would substantially lessen competition or restrain trade, and result in a monopoly or further a combination or conspiracy to monopolize or attempt to monopolize the savings and loan 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)  in a merger or consolidation, the financial condition of either entity would jeopardize the financial stability of an association that is a party to the plan;(3)  the plan is not in the best interest of an association that is a party to the plan;(4)  the experience, ability, standing, competence, trustworthiness, or integrity of the management of the entities proposing the plan is such that the reorganization, merger, or consolidation would not be in the best interest of the associations that are parties to the plan;(5)  after reorganization, merger, or consolidation, the surviving entity would not be solvent, have adequate capital structure, or be in compliance with the laws of this state;(6)  the entities proposing the plan have not furnished all of the information pertinent to the application that is reasonably requested by the commissioner;  or(7)  the entities proposing the plan are not acting in good faith.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.401 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Domestic and Foreign Associations|Section 62.401. Applicability of Subchapter

Sec. 62.401.  APPLICABILITY OF SUBCHAPTER.  (a)  This subchapter applies only to the merger or consolidation of a domestic association with a foreign association.(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 § 62.402 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Domestic and Foreign Associations|Section 62.402. Adoption of Merger or Consolidation Plan

Sec. 62.402.  ADOPTION OF MERGER OR CONSOLIDATION PLAN.  The board of directors of the foreign association must adopt the merger or consolidation plan.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.403 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Domestic and Foreign Associations|Section 62.403. Notice and Hearing; Confidentiality

Sec. 62.403.  NOTICE AND HEARING;  CONFIDENTIALITY.  If the commissioner considers the domestic association to be in an unsafe condition:(1)  the notice and hearing provisions of Chapter 2001, Government Code, and of Section 62.353 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 § 62.404 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Domestic and Foreign Associations|Section 62.404. Denial by Commissioner of Application

Sec. 62.404.  DENIAL BY COMMISSIONER OF APPLICATION.  If the surviving association is a foreign association, the commissioner shall deny the application if:(1)  the laws of the state in which the foreign association has its principal place of business do not permit a savings and loan association of that state to merge or consolidate with a domestic association if the surviving association is a domestic association;  or(2)  the foreign association is controlled by a savings and loan holding company that has its principal place of business in a state whose laws do not permit a savings and loan association of that state to merge or consolidate with a domestic association if the surviving association is a domestic association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.405 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Domestic and Foreign Associations|Section 62.405. Approval by Commissioner of Plan

Sec. 62.405.  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 association is a foreign association, the commissioner shall issue and deliver to the surviving association a certificate of authority to do business as an association in this state for the period expiring on January 31 of the next calendar year.(c)  A surviving association that is a domestic association shall operate under:(1)  the articles and bylaws of the merging or consolidating domestic association;  and(2)  the laws applicable to a domestic association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.406 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter I. Additional Provisions for Merger or Consolidation of Domestic and Foreign Associations|Section 62.406. Enforcement of Condition, Restriction, or Requirement on Surviving Foreign Association

Sec. 62.406.  ENFORCEMENT OF CONDITION, RESTRICTION, OR REQUIREMENT ON SURVIVING FOREIGN ASSOCIATION.  If the surviving association is a foreign association, the commissioner may enforce a condition, restriction, or requirement on the surviving association that could have been enforced by the state in which the foreign association has its principal place of business if the merger or consolidation had occurred in that state and the surviving association were a domestic association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 62.451 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter J. Merger of Subsidiary Corporation|Section 62.451. Authority to Merge

Sec. 62.451.  AUTHORITY TO MERGE.  One or more corporations organized under a law of this state may merge into an association that owns all of the corporations' capital stock if:(1)  the board of directors of the association and each corporation by a majority vote adopt the 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 § 62.452 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter J. Merger of Subsidiary Corporation|Section 62.452. Articles of Merger

Sec. 62.452.  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 association and each corporation;  and(2)  include:(A)  the name of the association and each corporation;(B)  a copy of the resolution of the association 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 association;  and(E)  a statement incorporating the provisions of Section 62.454(b).(b)  An original and a copy of the articles of merger shall 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 § 62.453 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter J. Merger of Subsidiary Corporation|Section 62.453. Approval of Merger

Sec. 62.453.  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 association.(c)  On approval of the articles of merger, each approving officer shall:(1)  endorse on the original and copy of the articles of merger the word "filed" and the date of the approval;(2)  file the original articles of merger in the records of the officer's office;  and(3)  issue and deliver to the association 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 § 62.454 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 62 - Organizational and Financial Requirements|Subchapter J. Merger of Subsidiary Corporation|Section 62.454. Effect of Merger

Sec. 62.454.  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 association assumes the rights and obligations of the corporation and owns the property of the association;  and(3)  the association'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.|