After an association is converted to a federal association:
(1) the corporate existence of the association continues; and
(2) the federal association is considered to be a continuation of the association that was converted.
CONTINUATION OF CORPORATE EXISTENCE
Known as the Texas Savings and Loan Act
The act spans §§ 61–89 (217 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
After an association is converted to a federal association:
(1) the corporate existence of the association continues; and
(2) the federal association is considered to be a continuation of the association that was converted.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.