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.
Tex. Fin. Code § 92.257
EFFECT OF ISSUANCE OF CHARTER
Known as the Texas Savings Bank Act
The act spans §§ 91–119 (255 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.