Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING › Chapter 75 - SAVINGS BANKS › Subchapter B - [Repealed] APPLICATIONS › Division 6 - CHANGE OF CONTROL › Section 75.161 - Acquisition of a Savings Bank

Current through Reg. 49, No. 28; July 12, 2024
The following procedures must be followed when a person
						desires to obtain control of a savings bank (including change of control of a
						savings bank holding company).
(1) No
					 person other than the issuer may make a public tender offer for, solicitation
					 or a request or invitation for tenders of, or enter into and consummate any
					 agreement to exchange securities for, seek to acquire, or acquire in the open
					 market or by means of a privately negotiated agreement or contract, any voting
					 security or any security convertible into a voting security of a savings bank
					 if, after the consummation thereof, such person would directly or indirectly,
					 or by conversion or by exercise of any right to acquire, be in control of such
					 savings bank, unless such person has filed with the Commissioner all of the
					 following information on an application form approved by the Commissioner and
					 which application form is deemed by the Commissioner to be complete and has
					 received a written order from the Commissioner approving such acquisition or
					 change of control:
(A) the background and
					 identity of the applicant, if such applicant and any affiliate is an
					 individual, or all individuals who are directors, executive officers, or owners
					 of 10% or more of the voting securities of the applicant if the applicant is
					 not an individual. Such filing must contain the following information:
(i) name and address;
(ii) present principal business activity,
					 occupation, or employment including position and office held and the name,
					 principal business, and address of any corporation or other organization in
					 which such employment is carried on;
(iii) material occupations, positions,
					 offices, or employments previously held by the individual, giving the starting
					 and ending dates of each and the name, principal business, and address of any
					 business corporation or other organization in which each such occupation,
					 position, office, or employment was carried on, indicating if any such
					 occupation, position, office, or employment required licensing by or
					 registration with any federal, state, or municipal governmental
					 agency;
(iv) whether such
					 individual is presently charged with or has ever been convicted of a violation
					 of law in a criminal proceeding (excluding minor traffic violations) and, if
					 so, giving the date, nature of conviction, name and location of the court, and
					 penalty imposed or other disposition of the case;
(v) whether such individual has been or is a
					 party to any federal, state, or municipal court lawsuit in which such
					 individual is or was alleged to have violated any federal or state statutes or
					 regulations, and, if so, giving the date, style of the suit, case number, court
					 location, and disposition of the suit;
(vi) whether any such individual has been or
					 is a party to any federal, state, or municipal governmental agency
					 administrative actions in which such individual was or is alleged to be in
					 violation of any governmental agency statute or regulation, and if so, giving
					 the date, nature of the action, name and location of the governmental agency,
					 and disposition of the case; and any other relevant information requested by
					 the Commissioner;