If the state bank does not open and engage in the business of banking within six months after the date of the granting of its charter, the banking commissioner may forfeit the charter or cancel the conditional approval of application for charter without judicial action.
Tex. Fin. Code § 32.007
DEADLINE TO BEGIN BUSINESS
Known as the Texas Banking Act
The act spans §§ 31–59 (247 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.