The new financial institution:
(1) retains any property, right, or obligation of the converted savings bank; and
(2) to the extent the provisions can be made applicable, is subject to Sections 92.306-92.308 as if it were a new savings bank.
Tex. Fin. Code § 92.259
PROPERTY AND OBLIGATIONS OF CONVERTED SAVINGS BANK
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.