AUTHORITY TO MERGE
Known as the Texas Savings Bank Act
The act spans §§ 91–119 (255 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
One or more corporations organized under the law of this state may merge into a savings bank that owns all the corporations' capital stock if:
(1) the board of the savings bank and each corporation by majority vote adopt a plan of merger; and
(2) the secretary of state and the commissioner approve the merger.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.