EFFECT OF APPROVAL OF APPLICATION AND ISSUANCE OF CHARTER
Known as the Texas Savings and Loan Act
The act spans §§ 61–89 (217 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
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.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.