reglab/housing_qa huggingface dataset:
TX Fin Code § 92.157 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter D. Administration|Section 92.157. Meetings of Members or Shareholders

Sec. 92.157.  MEETINGS OF MEMBERS OR SHAREHOLDERS.  (a)  The members or shareholders of a savings bank shall hold an annual meeting at the time fixed in the savings bank's bylaws.(b)  A special meeting may be called as provided by the savings bank's bylaws.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.158 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter D. Administration|Section 92.158. Voting Rights

Sec. 92.158.  VOTING RIGHTS.  (a)  The voting rights of a person entitled to vote at an annual or special meeting of a savings bank are the same as those of a shareholder of a domestic business corporation under the Texas Business Corporation Act.(b)  The bylaws of a savings bank must specify the voting requirements, including quorum requirements, for conducting business at a meeting of the members or shareholders.(c)  The bylaws of a savings bank must provide for the voting rights of the members or shareholders.  The bylaws must provide the manner of computing the number of votes that a member or shareholder is entitled to cast.  The bylaws of a capital stock savings bank may provide that only shareholders may vote.(d)  Voting may be in person or by proxy.  A proxy must be in writing and signed by the member or shareholder or the member's or shareholder's duly authorized attorney-in-fact and be filed with the secretary of the savings bank.  Unless otherwise specified in the proxy, a proxy continues until:(1)  a written revocation is delivered to the secretary;  or(2)  the proxy is superseded by a subsequent proxy.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.201 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.201. Books and Records

Sec. 92.201.  BOOKS AND RECORDS.  A savings bank shall maintain its books and records according to generally accepted accounting principles and to rules adopted by the finance commission.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 43, eff. Sept. 1, 2001.|
TX Fin Code § 92.203 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.203. Regulatory Capital

Sec. 92.203.  REGULATORY CAPITAL.  A savings bank shall maintain regulatory capital in the amount prescribed by rule of the finance commission.  The amount may not be less than the amount of regulatory capital required for a corresponding national bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 45, eff. Sept. 1, 2001.|
TX Fin Code § 92.204 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.204. Qualified Thrift Lender Test

Sec. 92.204.  QUALIFIED THRIFT LENDER TEST.  (a)  A savings bank must:(1)  qualify under and continue to meet  the qualified thrift lender test of Section 10(m), Home Owners' Loan Act (12 U.S.C. Section 1467a(m)); or(2)  maintain more than 50 percent of its portfolio assets in qualified thrift assets on a monthly average basis in at least nine out of 12 months.(b)  For purposes of Subsection (a)(2), "qualified thrift assets" means:(1)  qualified thrift investments as defined by 12 U.S.C. Section 1467a(m)(4)(C); and(2)  other assets determined by the commissioner, under rules adopted by the finance commission, to be substantially equivalent to qualified thrift investments described by Subdivision (1) or which further residential lending or community development.(c)   The commissioner may grant temporary or limited exceptions to the requirements of this section as the commissioner considers necessary.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.34(a), eff. Sept. 1, 1999.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.07, eff. September 1, 2005.|
TX Fin Code § 92.205 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.205. Computation of Income

Sec. 92.205.  COMPUTATION OF INCOME.  (a)  A savings bank shall close its books at the times provided by its bylaws to determine its gross income for the period since the date of the last closing of its books.(b)  A savings bank's net income for a period is computed by subtracting the amount of the savings bank's operating expenses for the period from the savings bank's gross income for the period.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.206 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.206. Insurance of Deposit Accounts

Sec. 92.206.  INSURANCE OF DEPOSIT ACCOUNTS.  A savings bank shall obtain and maintain federal insurance of deposit accounts through an insurance corporation created by an Act of the United States Congress.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.207 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.207. Limitation on Issuance of Securities

Sec. 92.207.  LIMITATION ON ISSUANCE OF SECURITIES.  A savings bank may issue a form of stock, share, account, or investment certificate only as authorized by this subtitle or as permitted for a national bank, federal savings and loan association, federal savings bank, or state bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.08, eff. September 1, 2005.|
TX Fin Code § 92.208 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.208. Common Stock

Sec. 92.208.  COMMON STOCK.  (a)  A savings bank may not issue common stock before the common stock is fully paid for in cash.(b)  A savings bank may not make a loan against the shares of its outstanding common stock.(c)  A savings bank may not purchase, directly or indirectly, its own issued common stock, except under a stock repurchase plan approved in advance by the commissioner.(d)  A savings bank may not retire or redeem common stock until:(1)  all liabilities of the savings bank are satisfied, including all amounts due to holders of deposit accounts, unless:(A)  prior written permission is obtained from the commissioner;  and(B)  the retirement or redemption is authorized by a majority vote of the savings bank's shareholders at an annual meeting or a special meeting called for that purpose;(2)  the basis of the retirement or redemption is approved by the commissioner;  and(3)  the savings bank files written consent of the Federal Deposit Insurance Corporation with the commissioner.(e)  Subsections (b) and (c) apply to the securities of the savings bank's holding company and affiliates.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.09, eff. September 1, 2005.|
TX Fin Code § 92.209 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.209. Preferred Stock

Sec. 92.209.  PREFERRED STOCK.  (a)  A savings bank may not issue preferred stock before the preferred stock is fully paid for in cash.(b)  A savings bank may not make a loan against the shares of its outstanding preferred stock.(c)  A savings bank may retire or redeem preferred stock in the manner provided by:(1)  the articles of incorporation;  or(2)  a resolution of the board of the savings bank establishing the rights and preferences relating to the stock.(d)  The extent to which preferred stock may be included as regulatory capital of a savings bank is subject to the rules adopted by the finance commission.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 46, eff. Sept. 1, 2001.|
TX Fin Code § 92.210 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.210. Series and Classes of Preferred Stock

Sec. 92.210.  SERIES AND CLASSES OF PREFERRED STOCK.  (a)  The articles of incorporation may:(1)  authorize that shares of preferred stock be divided into and issued in series;  and(2)  determine the rights and preferences of each series or part of a series.(b)  Each series must be clearly designated to distinguish its shares from the shares of other series or classes.(c)  The articles of incorporation may authorize the board by resolution to divide classes of preferred stock into series and to determine the rights and preferences of the shares of each series.  A copy of the resolution must be submitted to the commissioner before the shares may be issued.  The commissioner shall file the resolution in the commissioner's office if the resolution conforms to this subtitle.  After the resolution is filed, it is considered an amendment of the savings bank's articles of incorporation.(d)  All shares of the same class of preferred stock must be identical except for the following rights and preferences:(1)  the rate of dividend;(2)  the terms, including price and conditions, under which shares may be redeemed;(3)  the amount payable for shares on involuntary liquidation;(4)  the amount payable for shares on voluntary liquidation;(5)  a sinking fund provision for the redemption or purchase of shares;(6)  the terms, including conditions, of conversion of shares that may be converted;  and(7)  voting rights.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.211 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.211. Dividends on Capital Stock

Sec. 92.211.  DIVIDENDS ON CAPITAL STOCK.  (a)  The board of a capital stock savings bank may declare and pay a dividend out of current or retained income, in cash or additional stock, to the holders of record of the stock outstanding on the date the dividend is declared.(b)  Without the prior approval of the commissioner, a cash dividend may not be declared by the board of a savings bank that the commissioner considers:(1)  to be in an unsafe condition; or(2)  to have less than zero total retained income on the date of the dividend declaration.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.10, eff. September 1, 2005.|
TX Fin Code § 92.212 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.212. Use of Surplus Accounts and Expense Fund Contributions

Sec. 92.212.  USE OF SURPLUS ACCOUNTS AND EXPENSE FUND CONTRIBUTIONS.  (a)  At a savings bank's closing date, the savings bank may use all or part of a surplus account, whether earned or paid in, or expense fund contributions on its books to:(1)  meet expenses of operating the savings bank for the period just closed;(2)  make required transfers to loss reserves;  or(3)  pay or credit earnings on deposit accounts.(b)  Paid-in surplus may be used instead of earnings to pay organizational and operating expenses and earnings on deposit accounts and to meet any loss reserve requirements.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.213 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter E. Operations and Finances|Section 92.213. Use of Expense Fund Contributions

Sec. 92.213.  USE OF EXPENSE FUND CONTRIBUTIONS.  (a)  The expense of organizing a savings bank, its operating expenses, and earnings on accounts declared and paid or credited to its deposit account holders may be paid out of the expense fund until the savings bank's earnings are sufficient to pay those amounts.(b)  The amounts contributed to the expense fund are not a liability of the savings bank except as provided by this subchapter.(c)  The savings bank shall pay to the contributor dividends on the amount contributed to the same extent the savings bank pays dividends on a deposit account.  An amount contributed to the expense fund is considered a deposit account of the savings bank.(d)  Contributions to the expense fund may be repaid to the contributors pro rata from the net earnings of the savings bank after provision for required loss reserve allocations and payment or credit of earnings declared on accounts.(e)  If the savings bank is liquidated before contributions to the expense fund are repaid, contributions to the expense fund that remain unspent after the payment of expenses of liquidation, creditors, and the withdrawal value of deposit accounts shall be repaid to the contributors pro rata.(f)  The savings bank's books must reflect the expense fund.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.251 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter F. Conversion of Savings Bank to Other Financial Institution|Section 92.251. Conditions for Conversion

Sec. 92.251.  CONDITIONS FOR CONVERSION.  (a)  The finance commission by rule shall establish the conditions under which a savings bank may convert to another financial institution.(b)  The rules must ensure that a conversion does not cause undue harm to the public interest or to another existing financial institution.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.252 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter F. Conversion of Savings Bank to Other Financial Institution|Section 92.252. Application for Conversion

Sec. 92.252.  APPLICATION FOR CONVERSION.  (a)  A savings bank may convert to another financial institution if a resolution declaring the conversion is adopted by a majority vote of the members or shareholders of the savings bank 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 30th 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.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.11, eff. September 1, 2005.|
TX Fin Code § 92.253 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter F. Conversion of Savings Bank to Other Financial Institution|Section 92.253. Action by Commissioner on Application

Sec. 92.253.  ACTION BY COMMISSIONER ON APPLICATION.  Not later than the 10th day after the date an application to convert is received, the commissioner shall:(1)  consent by written order to the conversion;  or(2)  set a hearing on whether the conversion complies with rules adopted under Section 92.251.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.254 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter F. Conversion of Savings Bank to Other Financial Institution|Section 92.254. Hearing on Application

Sec. 92.254.  HEARING ON APPLICATION.  (a)  A hearing set under Section 92.253(2) must be held not later than the 25th day after the date the application is filed unless a later date is agreed to by the applicant and the commissioner.(b)  The commissioner or a hearing officer designated by the commissioner shall conduct the hearing.(c)  The hearing shall be conducted as a contested case under Chapter 2001, Government Code, except that:(1)  a proposal for decision may not be made;  and(2)  the commissioner shall render a final decision or order not later than the 15th day after the date the hearing is closed.(d)  Chapter 2001, Government Code, governs a motion for rehearing and the availability of judicial review if the commissioner denies the application to convert.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.255 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter F. Conversion of Savings Bank to Other Financial Institution|Section 92.255. Consummation of Conversion

Sec. 92.255.  CONSUMMATION OF CONVERSION.  Within three months after the date of the commissioner's written order consenting to the conversion, the savings bank shall consummate the conversion in the manner prescribed by the applicable law of this state or the United States.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.256 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter F. Conversion of Savings Bank to Other Financial Institution|Section 92.256. Filing of Charter or Certificate

Sec. 92.256.  FILING OF CHARTER OR CERTIFICATE.  (a)  The new financial institution shall file with the commissioner:(1)  a copy of the charter issued to the new financial institution by the appropriate banking agency;  or(2)  the certificate showing the organization of the new financial institution, certified by the secretary or assistant secretary of the appropriate banking 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 § 92.257 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter F. Conversion of Savings Bank to Other Financial Institution|Section 92.257. Effect of Issuance of Charter

Sec. 92.257.  EFFECT OF ISSUANCE OF CHARTER.  On the issuance of a charter by the appropriate banking agency, the savings bank:(1)  ceases to be a savings bank incorporated under this subtitle;  and(2)  is not subject to the supervision and control of the commissioner under this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.258 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter F. Conversion of Savings Bank to Other Financial Institution|Section 92.258. Continuation of Corporate Existence

Sec. 92.258.  CONTINUATION OF CORPORATE EXISTENCE.  After a savings bank is converted to another financial institution:(1)  the corporate existence of the savings bank continues;  and(2)  the new financial institution is considered to be a continuation of the savings bank that was converted.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.259 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 92 - Organizational and Financial Requirements|Subchapter F. Conversion of Savings Bank to Other Financial Institution|Section 92.259. Property and Obligations of Converted Savings Bank

Sec. 92.259.  PROPERTY AND OBLIGATIONS OF CONVERTED SAVINGS BANK.  The new financial institution:(1)  retains any property, right, or obligation of the converted savings bank;  and(2)  to the extent the provisions can be made applicable, is subject to Sections 92.306-92.308 as if it were a new savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 92.301 (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 92.301. Application to Convert

Sec. 92.301.  APPLICATION TO CONVERT.  (a)  Another financial institution may convert to a savings bank if the conversion is approved by a majority vote of the members or shareholders of the financial institution cast at an annual meeting or a special meeting called to consider the conversion.(b)  The application to convert must:(1)  be submitted to the commissioner and mailed to the appropriate banking agency not later than the 30th 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 conversion was approved.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.12, eff. September 1, 2005.|
TX Fin Code § 92.302 (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 92.302. Election of Directors; Execution and Acknowledgment of Application and Bylaws

Sec. 92.302.  ELECTION OF DIRECTORS;  EXECUTION AND ACKNOWLEDGMENT OF APPLICATION AND BYLAWS.  (a)  At the meeting under Section 92.301(a), the members or shareholders shall elect directors of the savings bank.(b)  The directors, or the president and secretary, shall execute two copies of an application for certificate of incorporation as provided by Subchapter B.(c)  Each director, or the president and secretary, shall sign and acknowledge the application for certificate of incorporation as a subscriber and shall sign and acknowledge the bylaws as an incorporator.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.13, eff. September 1, 2005.|